AUTOMATED RENT COLLECTION AND PAYMENT PROCESS

Created by ChecklistGuro (https://checklistguro.com)

[ ] Fetch Active Leases: Retrieve all entries from the 'Lease' data model where the status is 'Active'.
[ ] Fetch Monthly Rent Rates: Retrieve the 'Monthly_Rent' field from all active lease entries.
[ ] Calculate Total Expected Revenue: Sum the 'Monthly_Rent' values from all retrieved active leases to calculate total monthly inflow.
[ ] Create Monthly Invoice: Generate a new entry in the 'Invoices' data model for each lease, linking it to the corresponding Lease ID.
[ ] Calculate Late Fee: Apply a formula to the rent amount (e.g., Rent * 0.05) to determine the penalty if the due date has passed.
[ ] Send Rent Due Notification: Send an automated email to the Tenant's email address notifying them that the invoice has been generated.
[ ] Assign Payment Verification Task: Create a task for the 'Accountant' user to verify incoming bank transfers against the Invoice entries.
[ ] Update Invoice Status to 'Pending': Set the status of the newly created Invoice entries to 'Unpaid/Pending'.
[ ] Identify Overdue Payments: Retrieve all Invoice entries where 'Status' is 'Unpaid' and 'Due_Date' is less than the current date.
[ ] Send Overdue SMS Alert: Send a text message to the Tenant's phone number regarding the overdue balance.
[ ] Apply Late Fee to Invoice: Update the 'Total_Amount' field in the Invoice entry to include the calculated late fee.
[ ] Mark Invoice as Paid: Update the 'Status' of an Invoice entry to 'Paid' once the payment verification task is completed.
[ ] Create Late Payment Follow-up Task: Create a task for the 'Property Manager' to contact tenants with payments overdue by more than 7 days.
[ ] Generate Monthly Collection Report: Create a summary report showing Total Collected vs. Total Expected revenue for the month.

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