NetSuite - Review Proposed Increases

Review Proposed Increases

Community managers will review increases either yearly (for annual communities) or monthly (for anniversary communities).

Annual communities are communities that increase site rent for all residents at the same time.

Anniversary communities are communities that increase site rent for residents on a rolling basis. Residents receive a rent increase on the “anniversary” of signing their lease, coinciding with their annual lease renewal.

1. In NetSuite, navigate to Lease Operations > Resident Owned Home Rent Increase > List
2. If needed, select the year from the top filter. 
   Ensure that the list is displaying leases on the Pending Approval tab. 
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3. Click on the month to review.
4. Review the resident information on the table , including the proposed increase amount and the New Site Rent.  This is the resident’s new rent amount after the increase becomes effective. Ensure that any discounts, incentives, and/or site types are correct. 
5. Click the checkbox next to the site number, then click the Approve or Reject buttons at the top of the screen as needed. Multiple checkboxes can be selected at a time for bulk approval/rejection. 
   Note:  If the increase is rejected, a comment will be required about why the increase is rejected, and the increase information will be routed back to the Revenue Management Team to review and update.
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Once approved, the lease information will move to the Approved & Pending Mailing tab. Approved increases will automatically be generated nightly.  For notices that need to be sent via mail, they will be generated and then sent for mailing by the Revenue Management Team. The generated notices can be viewed from the list by scrolling to the right and clicking View.