Notes
The notes area can be used to record notes relating to the property instance. If the owning landlord is allocated an Origin account then these notes will not be displayed to him/her.
Tenant Balance
This incorporates the Rent Balance but also includes any Tenant Fees and/or Expenses applied vs any Tenant Fees or Expenses that have been paid.
Current Landlord Balance
This is the state of the landlord account for this property instance. It is calculated from income received, expenditure incurred, fees applied and payments to and from the landlord of the property.
Opening Landlord Balance
This is the landlord balance on the opening balance date. When specifying the opening landlord balance a minus sign should be used to indicate that the landlord account for this property is in arrears.
Opening Balance Date
This is the date from which Origin will be used by the letting agency in its management of the property. Any transactions recorded within Origin prior to this date will be ignored.
ITM Date
This is the start date of the agreement made with the owning landlord and your letting agency to manage the property on his/her behalf.
ITM Expiry
This is the date on which the agreement made with the owning landlord and your letting agency to manage the property on his/her behalf expires.
Finder's Fee
This finder's fee is an additional management fee that can be used if the letting agency was instrumental in sourcing the property for the landlord. It is a one-off, fixed monetary value that will be applied as a management fee to the landlord account for this property.
Alert Indicator
The default value of this flag is 'Y' and means this property will be considered for the various alert reports within Solo and Origin. The letting agency may alter the value of this flag if at some stage they cease management of the property.
Commercial Property
You should check this box if the premises are for commercial / business purposes AND VAT is to be applied to rents due.
Auto Issue Invoice?
Tick this box if you wish a rent invoice to be automatically emailed to the tenant prior to the rent due date. You can define the number of days in advance of the rent due date the rent invoice is issued via the Configuration tab of the Control Panel.
Target Rent
This is rental value that your business aims to achieve when sourcing a tenant for this property.
Min Acceptable Rent
This is the minimum rental value that your business will agree with a tenant when letting this property.
Rates Payable
The rates payable for this property.
Specify Next Rates Date?
Tick this box if you wish to specify the rates due date for this property.
Next Rates Due Date
The next date on which rates are due for this property.
Maintenance Threshold
The value of this field should be agreed between you and the owning landlord. Its value relates to maintenance activities performed by your letting agency on this property. If the estimated value of the maintenance activity exceeds the Maintenance Threshold then agreement is required from the landlord before the maintenance activity can commence. The default value for this field will be taken from the Maintenance Threshold defined for the associated landlord.
Maintenance Float
Balance to be retained by agency to meet with unforeseen expenses.
Maintenance Allowance
The maximum value of expenses and Trouble Tickets that the agency has agreed with the landlord to absorb over the Maintenance Allowance Period and not charge to the landlord.
Maintenance Allowance Period
The rolling period associated with the Maintenance Allowance.
Care Alert
The purpose of a Care Alert is that when an Origin user views a Property, Tenant, Landlord or Supplier instance they can be made immediately aware of important information.
Management Fee
This value may be either a percentage or fixed monetary value depending on how your Origin instance is configured. It is a definition of the fees that will be charged by the letting agency for management of the property instance.
The management fee is set on a per property basis.
Guaranteed Rent Scheme
In the 'Effective Date' column specify the date on the property will come under the guaranteed rent scheme. Also enter the Guaranteed Rent value and click on the 'Add' button to the right.
Comments
0 comments
Please sign in to leave a comment.