Create a new application

Our application process is fully customisable, allowing you to effortlessly tailor each journey to the exact requirements of your customers and landlords. Whether you're dealing with tenancies in the PRS, BTR, PBSA, or co-living sectors, Yorlet Leasing can adapt to a variety of tenancy types, providing your team with a reliable and repeatable process.

Create a rental application

1. Navigate to the Leasing tab and select Applications or use the command bar.
2. Choose an application type from the following categories:
   • Standard: Full applications with payments, rent collection, and contracts.
   • Renewal: Refresh existing tenancies, collect additional payments, and sign contracts.
   • Active tenancy: Collect rental payments for a tenancy where application payments and contracts have already been processed.
   • Let only: Full application with payments and contracts, without setting up rent collection.
3. Select a customer from your database or create a new one. Note that you only need the customer's email address to get started, legal and contact details can be self-served by the customer within the application portal.
4. Choose a building and rental unit.
5. Ensure your compliance documents, such as Energy Performance Certificate, Electric Safety Certificate, and Gas Safety Certificate, are uploaded and up-to-date.
6. Edit the start and end dates, as well as the billing interval for rent collection (e.g., monthly, quarterly, or custom).
7. Review rental pricing and manage invoice line items.
8. Calculate accurate pricing for application payments, including the Holding deposit, Move-in payment, and Deposit.
9. Determine a rent collection method, either Charge automatically or Send invoice.
10. Select a contract template.
11. Click Create.

Once you have completed this process, your customers will be automatically emailed an onboarding link giving them access to the Application Portal. You can always resend this link or generate a fresh one at any point from the application summary page.

Application payments

Depending on your rental application setup, customers may be prompted to make several payments in the application portal to secure the tenancy. You can easily configure these payments using the Calculate payments button during application creation. The default calculation is as follows, but you have the flexibility to customise these values:

• Holding deposit (one week's rent): This payment represents a small commitment towards the tenancy. It is collected after the customer provides their legal information and agrees to your terms and conditions, privacy policy, and pre-application terms. After making this payment, the tenant moves to the referencing stage, and the application requires approval from your team. The holding deposit adds a credit to your customer's balance.
• Move-in payment (three weeks' rent): After setting up the rent payment method, customers are required to pay the move-in payment. This payment can be conveniently processed using the payment details saved from the holding deposit.
• Deposit (five weeks' rent): The security deposit is paid immediately after the move-in payment.

It's important to note that the holding deposit and move-in payment contribute as a credit towards the rental contract. You can leverage this by using the move-in payment to facilitate a large upfront financial commitment. For example, if you collect rent monthly but require a 6-month upfront commitment, setting the move-in payment to 6 months applies a credit to your customer's account. They won't be billed until the sixth month of their tenancy, at which point monthly billing will commence.

Compliance

Yorlet ensures compliance at every step by addressing the following requirements:

• Energy Performance Certificate, Electric Safety Certificate, and Gas Safety Certificate: Before creating an application, Yorlet verifies the addition and validity of all compliance documents. These documents are presented clearly to customers at each stage of the application portal. You can manage the validity of your essential documents by navigating to Reports > Compliance.
• Pre-application terms, Terms and Conditions, and Privacy Policies: Customers must accept your legal terms before making a holding deposit. The pre-application terms (also known as Reservation fee terms) are particularly important. You can add these terms to your account by navigating to Settings > Leasing > Application Portal > Pre-Application Terms.
• Renter's Handbook: For UK based applications, before signing the rental contract, customers are provided with a link to the Renter's Handbook and have the option to download a PDF copy.

Guarantors

For certain applications, you may require a guarantor to mitigate risk. Adding a guarantor is simple: after creating an application, navigate to the application page, and access the overflow menu (•••) related to the applicant. From there, select Add guarantor.

Payment Sessions

If you need to collect an ad hoc payment for a holding deposit, move-in payment, or deposit, you can utilise Payment Sessions. This feature may come in handy if you accidentally forget to calculate an application payment or require further payment from your customer.