To create a new PSL rate payment rule

<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 payment rule 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, revealing a list of all consolidated lease fees applicable to the asset in the PSL Rates summary table.
6. Highlight the row containing the specific asset rate against which a chronological payment profile will be defined.
7. Click on New Rule. The Rate Payment Rule window is displayed.
8. Enter a Description for the new rate payment rule into the field provided i.e. reflecting the duration over which the rule will apply.
9. Where the rule will only apply during an asset void episode, activate the Pay during void tick box provided i.e. those periods during which the property is not tenanted.
10. Enter the Percentage threshold to be applied to the rate element fee over a defined period. The Up and Down arrows are available to increment or decrement the value, as required.
11. Using the Duration drop-down field, choose the appropriate ordinal slot (1st, 2nd, 3rd, 4th, etc.) in the context of the overall payment profile; use the adjacent 'multiplier' (integer) and 'unit' (Days, Weeks, Months) fields to define the operating period. Alternatively, where the payment rule will apply until the end of the current PSL agreement, choose the Ongoing ordinal - denoting that the payment phase will come into effect once all previous rules have elapsed 3.
12. The Effective from and Effective to dates for the associated rate element are displayed for reference purposes only i.e. the active status of the PSL rate payment rule is inextricably linked to the element fee.
13. Click on Save. The new chronological payment profile entry is displayed in the Rate Payment Rules summary table.

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 system will automatically propose the next chronological ordinal to coincide with all existing payment rule entries.

See related topics...

PSL rate setting management overview

To delete a PSL rate payment rule

To add a new PSL rate element to an asset

To create an ownership episode for an asset

Using the search facility