Setting and Updating Base Rent

When you add a unit to a property, one of the most critical fields is the Rent Amount. We refer to this internally as the "Base Rent" or "Market Rent."

Properly configuring this number saves you significant data-entry time later on.

What is Base Rent?

The unit's Base Rent represents what the space should rent for in the current market, regardless of who is currently living there.

It acts as a template. When you go to Create a New Lease and select that unit from the dropdown menu, the system automatically populates the lease's rent field with this Base Rent number.

You can always edit the final number on the actual lease (for example, offering a $50 discount to a family member), but having the Base Rent configured prevents you from having to look up pricing spreadsheets every time you draft a contract.

How to Set or Update Base Rent

You configure the initial Base Rent when Adding a Unit to a Property. However, real estate markets fluctuate constantly. If market rents in your area increase:

1. Navigate to the Properties list and select the property.
2. On the Units tab, find the unit you want to update.
3. Click the Action Menu (three dots) and select "Edit".
4. Update the Rent Amount field to reflect the new market reality.
5. Click "Save Changes".

Does Changing Base Rent Affect Active Leases?

No. This is a critical distinction.

If John Doe signed a one-year lease agreeing to pay $1,200/month, that Lease record is locked. If you edit John Doe's unit and change the Base Rent to $1,400/month:

• John Doe is still only legally obligated to pay $1,200/month.
• Your ledger and expected rent collection metrics will still expect exactly $1,200 from John.

Changing the unit's Base Rent only affects the default template value for the next lease you create for that space.

For a complete explanation of this separation, read How Base Rent Differs from Lease Rent.