To create a new PSL rate for an asset

<This topic is in draft form only - it has been constructed solely from the corresponding requirements documentation and supporting use cases>

The procedure to create a new PSL rate for an asset is as follows:

1. Using the global search facility, type in the first few characters of the privately owned asset address 1.
2. Double-click on the row containing the exact record match. Where the expected record is not listed, a more advanced search can be conducted using the spy-glass icon ().
3. Click on Asset Details. The Asset Details window is displayed for the current asset.
4. Click on Rent Details. The Asset Rent Details window is displayed.
5. Click on Rates 2. The Rates tab is activated.
6. Click on New Rate. The Asset Rates window is displayed.
7. Using the Rate type drop-down field, select an appropriate classification parameter value for the lease fee e.g. Emergency Rate - 1 Bedroom Flat, Long Term Rate - 2 Bedroom House, etc.
8. Using the Frequency drop-down field, select an appropriate interval parameter value for the payment cycle e.g. Daily, Weekly, Fortnightly, Calendar Monthly, etc.
9. Using the Calendar drop-down field, select an appropriate parameter value to define the operating period for the PSL rate, filtered by the chosen frequency.
10. Choose an Effective from date for this PSL rate i.e. the date on which it came into effect for the asset 3.
11. Choose an Effective to date if the PSL rate is to be reviewed on a specific date or to capture a change of circumstances; a blank field means the assigned rate will be continually valid.
12. Click on Save 4. On returning focus to the Asset Rent Details window, the new record is displayed in the PSL Rates summary table 5.

Note

1 The search facility will return all possible matches for any corresponding address field once the Number of characters before an automatic search commences system preference is reached.

2 This option is only available for assets that have been configured with a PSL ownership category.

3 The Effective from date defaults to the current system date and cannot be left blank.

4 The Base Value (non-adjusted rate amount) and the Actual Value (the amount to be paid at the selected frequency) will be calculated automatically once rate elements are added to the record.

5 To amend the details of an existing PSL rate assigned to the asset, double-click on the desired row in the Rates summary table and repeat steps 10 through 12; only a limited number of fields can be updated once a record has been created.

See related topics...

PSL rate setting management overview

To add a new PSL rate element to an asset

To clone a PSL rate for an asset

To create a new PSL rate payment rule

To create an ownership episode for an asset

Using the search facility