To start tracking income, you first need to add a lease/tenancy to your property. The lease outlines important details such as the tenancy duration, rent frequency, and rent amount. Additionally, you can set up several advanced features when creating your lease, including automated rent reminder emails.

⚠️ Note: Online payments is only available for our users in the US.

Adding a Lease to your Property

Step 1. Navigate to the properties screen via the left-hand menu

Step 2: Select your property from the list

Step 3. Select the add lease button.

Step 4. Enter the Lease details.

You must complete the following fields to complete a lease.

Start Date – The lease start date.
Rent Amount – The monthly rent the tenant will pay.
Payment Frequency – How often rent is due (e.g., Monthly).
Payment day - Which day of month will the rent be due (Monthly lease only).

Collect payments online

To enable online rent collection, toggle the Collect payments online option to YES on the lease setup page. Once enabled, you’ll have several options in Step 2 of the lease set up form:

Collect deposit online?
Allow partial payments?
ACH and/or Card payments?
Who pays the payment processing fee?

⚠️ Important: For the security of our community, all users must complete a security verification process before online rent collection can be activated. Please see our more detailed guide on How to Setup Online Rent Collection.

Follow the lease form to complete the set up. Landlord Studio offers a number of useful tools along with this.

Pro-rata payment
Late fees
Renters insurance

Pro-Rata Payments

Pro-rata payments allow landlords to adjust the rent payment amount for tenants. This can be particularly useful in situations like short-term leases or move-in/move-out periods that do not cover a full rental cycle.

This feature provides flexibility, allowing tenants to make smaller upfront payments and accommodating varying financial situations.

Charge late fees

Late fees can be incorporated into the lease agreement. Late fees will be applied to the tenant if you do not initiate your rent payment before the rent due date. If rent payment is not initiated by the tenant before the due date, these late fees will be applicable.

💡 Tip: Add a Late Fee to Encourage on time Payments
Late fees help set clear expectations and encourage tenants to pay rent on time. They act as a deterrent for missed payments and help compensate for the inconvenience of chasing overdue rent.

Renter's Insurance

Renter's insurance offers peace of mind for landlords. Most landlords require it. Landlord Studio partnered with Sure to provide comprehensive coffer to renters. Check What Every Landlord needs to know about Landlord Insurance.

When a landlord requires renter's insurance, the tenant can upload the insurance document or purchase in the tenant portal. When this is uploaded by the tenant, the landlord can view the document in the Lease Documents section of the landlord portal.

Step 5. Scroll down to see the additional features including:

Set Reminders - Lease expiry/ rent reminder/ rent overdue
Additional Information

The following automatic reminders are included for our PRO / PRO PLUS users.

Rent Reminder
- Sent to tenants before or n days before rent due date.
- You can configure how many days after the due date it should be sent.
Overdue Rent Reminder
- Sent after rent becomes overdue to prompt payment.
- Fully configurable based on how many days late the rent is.