Add-on: Automated rent increases (ECRI)

This Add-on automatically creates scheduled rent increases. For details on manually creating or cancelling any jobs, refer to this help document: Scheduling and cancelling a rent change.

This Add-on automates existing-customer rate increases (ECRIs) — planned price increases applied to current tenants, as opposed to the street rate shown to new customers. It's the automation layer of Storeganise's built-in revenue management: pair it with Dynamic pricing, which adjusts rates for new move-ins based on occupancy, to manage pricing for both new and existing tenants without a separate tool.Set your percentage increase, review window, and tenant notice period once, and Storeganise applies each increase automatically from then on.For details on manually scheduling or cancelling a single rent change (with or without this Add-on installed), see Scheduling and cancelling a rent change.

How to set up the Add-on

Note: The demo below is interactive.

  • Install the Add-on
    • Reach out to Storeganise Support to request for the add-on to be installed.
  • Deploying the Add-on
    • Navigate to the site you want the Add-on installed
    • Click on Add-ons then Automated rent increases
    • Click on the pencil icon to configure the settings
  • Configure the settings
Add-on settings
  • Days between price hikes:Specify the number of days between each rent increase. (i.e 60 days or 90 days)
  • Percentage increase:Set the percentage by which the rent will increase after each interval.This can be overridden per unit rental or per unit type by setting a custom value in the Automatic rent increase % custom field. Setting it to 0   means that unit rental or unit type's rent will not be increased automatically.
Optional custom field
    • Notice period (days):Set how many days in advance the tenant will be notified of the upcoming price hike.
    • Review period (days):How many days the system will wait between when a price hike is scheduled and the notice email is sent. If there's no notice period, then it goes straight to applying the price hike.
    • Round the new price?:Number of decimals to round the price to.
  • Click on update to save the changes
  • Toggle the Enable switch to activate the Add-on
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Add-on: Automated rent increases (ECRI)