Rental Income Management Workflow
Streamline your rental income collection, payment verification, and account reconciliation with this comprehensive template.
This reusable ProcessKit template contains 12 steps and 65 blocks. Adapt it to your team’s policies, responsibilities, and tools.
Template categories
What’s included
Gather Payment Information
- Select Payment Method Received
Confirm Payer Identity and Details
- Confirm Identity Verified
- Mark Identity Verification as Pending
- Mark Identity Verification as Not Verified
- Mark Identity Verification as Under Review
- Mark Account as Suspended (if applicable)
- Review Identification Document
- Validate Residential Address
- Assess Previous Payment Record
Determine Final Payment Amount
- Apply Early Payment Incentive (if applicable)
- Factor in Promotional Rate (if applicable)
- Include Loyalty Program Reduction (if applicable)
- No Adjustments Applied
- Specify Other Adjustments
Issue Payment Request
- Invoice Sent Confirmation
- Invoice Status: Pending Dispatch
- Invoice Status: Delivery Failed
- Invoice Status: Acknowledged by Payer
- Invoice Re-sent Confirmation
Confirm Fund Receipt
- Payment Confirmed as Received
- Payment Status: Pending Confirmation
- Payment Confirmation Not Supplied
- Payment Status: Under Review
- Payment Status: Disputed
- Record Transaction Reference/ID
- Upload Proof of Payment (if applicable)
Log Financial Transaction
- Transaction Successfully Recorded
- Transaction Status: Pending Recording
- Transaction Recording Failed
- Transaction Status: Refund Processed
- Transaction Status: Disputed
Issue Proof of Payment
Review Holding Account Status
- Account Balance: Sufficient
- Account Balance: Low
- Account Balance: Inconsistent
- Account Balance: High
- Account Balance: Status Unknown
- Account Status: Active
- Account Status: Pending Activation
- Account Status: Closed
Management Review and Approval
- Confirm Payment Information Reviewed
- Confirm Payer Identity Verified
- Confirm Final Amount Calculation Approved
- Confirm Invoice Issuance Approved
- Confirm Fund Receipt Verified
- Confirm Transaction Logged
- Confirm Receipt Issued (if applicable)
- Confirm Holding Account Status Reviewed
Adjust Payer Account Standing
- Mark Account as 'Paid'
- Mark Account as 'Payment Pending'
- Mark Account as 'Overdue'
- Mark Account as 'Suspended'
- Mark Account as 'In Good Standing'
- Notify Account Manager
- Notify Finance Department
- Notify Sales/Leasing Representative
Communicate Payment Outcome to Payer
- Send Notification via Email
- Send Notification via SMS/Text
- Notify via Phone Call
- Notify In-Person
- Send Notification via Postal Mail
Compile Periodic Financial Summary
- Include Revenue Overview
- Include Expenditure Overview
- Calculate Net Financial Gain/Loss
- Perform Comparative Analysis
- Generate Visual Data Representations