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Create Payment Schedule for each month of a rental lease

Topic Labels: Automations Data Formulas
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jzeller
5 - Automation Enthusiast
5 - Automation Enthusiast

I want to create rent payment schedule to send to someone after they sign leases for an apartment using the data that I have in airtable. 

  • The rent payable is typically the same price every month but sometime if they start not on the 1st of the month the 2nd month is pro-rated. Also a few times are free month rent is given so that month no rent is due. Always paid at lease signing is 1st month rent and one month security deposit. The 1st Month they will always pay the entire amount even if the lease doesn't start on the 1st. The 2nd month is always pro-rated if there is pro-rated rent. 
  • I was things about having each month as a column (Sept 2024, Oct 2024, nov 2024 etc) then we can use ai and formula to look up the start date, end date, rent amount to put the data below in a table to send out in an email in automation or I can set up via Zapier. In Zapier I can probably also set up this type of automation but want to get an idea what the best way to do this. 

See below examples scenarios. 

Lease Start Date 9/3/2024

Lease End Date 8/31/2025

Rent $5,000

 

 

 

 

 

Data I want to automate putting in this order with the data from above

 

 Sept 2024 $5,000 - paid at lease signing 

October 2024  $4,666.67 pro-rated rent 

Nov 2024     $5,000

Dec 2024     $5,000

Jan 2025      $5,000

Feb 2025      $5,000

March 2025  $5,000

April 2025    $5,000

May 2025      $5,000

June 2025    $5,000

July 2025       $5,000

August 2025 $5,000

 

1 Reply 1

Hmm, does this look right?  I'm assuming that daily rent is calculated with the assumption of 30 days a month

Screenshot 2025-02-05 at 2.36.58 PM.png
Screenshot 2025-02-05 at 2.37.01 PM.png

The only tricky bit would be creating one record per month between the lease start and end date, which I think you'd need to use a script + automation for

And I've set it up for you here so that you can see how I did it!