Types of Contracts

Managing availability based on the type of stay is most common in property management. In simple terms, this can be broken down into 3 types:

• Fixed contracts have a definite contract end date, 
• Month to Month contracts come with no definite contract end date, and
• Fixed rollover contracts transition to a month-to-month basis once the initial contract end date has ended.

Managing Availability will help moderate occupancy and increase revenue: The below table shows the impact of availability depending on the contract type.

Factors like Revenue Potential and length of occupancy come into play when deciding what type of contract to manage. However, keeping track of this can be a challenging process.

Our system allows operators to control to type of contract based on 2 factors: 

• Contract end date
• Contract status

Note: The unit will continue to remain unavailable until the unit is in the occupied state. Once the unit is placed Under Notice, it will become available. 

Fixed Contract Creation on our system

Month to Month Contract Creation

Fixed with Rollover Contract Creation