In Rex PM, prepayments are designed to make property management more efficient by letting you reserve and manage tenant funds for specific purposes — such as upcoming rent, maintenance, or other agency-defined uses.
They help you ensure that funds are available when needed and automatically used for their intended purpose, reducing manual work and financial errors.
Think of it like setting aside money in your personal account to cover future bills or expenses — you’re not spending it yet, but you’re reserving it for something you know is coming up.
What Are Prepayments?
Prepayments allow you to allocate tenant funds for specific purposes within Rex PM.
For example, if a tenant pays rent in advance or provides money for a maintenance float, you can hold that amount in a prepayment bucket until it’s needed.
Once set up, prepayments can automatically pay invoices or charges from those reserved funds — ensuring the right money goes to the right place, every time.
Prepayments are particularly useful for:
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Managing advance rent payments
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Holding maintenance or service funds on behalf of owners or tenants
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Reserving deposit-related or contingency funds for specific purposes
Benefits of Using Prepayments
💡 Automated Payments
Save time by letting Rex PM automatically pay invoices from the reserved funds once they’re due.
🔐 Purposeful Fund Management
Ensure funds are used only for their intended purposes — no accidental overspending or misallocation.
⚙️ Improved Efficiency
Simplify your financial processes and reduce manual handling by letting Rex PM handle the workflow.
📊 Better Financial Clarity
Maintain transparency and traceability in your ledgers — every prepayment has a clear purpose and audit trail.
How Prepayments Work
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A tenant or owner provides funds in advance — for example, rent paid ahead of schedule or a pre-funded maintenance amount.
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You allocate those funds into a prepayment bucket — categorised by purpose (e.g. Rent, Maintenance, Water, etc.).
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Rex PM reserves those funds until they’re used.
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Invoices or charges are paid automatically from the prepayment balance when they’re due.
This ensures the reserved money is always applied correctly, without the need for manual transfers or approvals.
Setting Up Prepayment Buckets
To get started, you’ll first need to create a prepayment bucket. This defines the purpose of the reserved funds (for example, “Rent Prepayment” or “Maintenance Reserve”).
For instructions, see our guide: