Add Rentable Item Type

Click to add a new rentable item type.

Code

The code for the rentable item type. Click to view or edit details for a rentable item type.

Description

The description of the rentable item type.

Total Items

The total number available of the rentable item type, for example, 10 if there are ten of the rentable item type, Garages.

In Use

The number of the rentable item types that are being used currently.

Items

A link to the Items grid that lists the available items of that type.

Delete

Click the Delete icon to delete a rentable item type.

Fields

A red dot indicates a required field or selection.

Code

Enter a code for the rentable item type, i.e., for the overall category of rentable items; for example, STOR.

Description

Enter a brief description for the rentable item type code; for example, storage units.

Max Items

Enter the maximum number of this item type that you have to rent. You can click the link in the Items column in the Rentable Item Types grid for details about the items available.

Note

The number of line items you enter in the Items grid must not exceed the number you enter here in the Max Items field.

Potential

Select an option from the drop-down list. The following options are possible:

Yes
Select this option to have the system track all available (unrented) rentable items for the Loss to Lease/Vacancy calculation. If you select this option, we recommend that when you set up the rental item income code in Income Codes setup that you do not select Potential for the Income Code.

When you select Yes, the Transfer With field is enabled.

No
This option is the default. Accept this default to prevent the system from tracking rentable items for the Loss to Lease/Vacancy calculation.

Transfer With

If you selected Yes for Potential, this field is enabled (and required). Click the Lookup button and select a property so that this rentable item type transfers with the property.

Restricted to Property (ies)

Select the property or properties to which you want to limit the current rentable item type.

Fields

Line 1 - 4

Enter the street address associated to the rentable item type, using up to three lines. For example, if the rentable item is Washing Machines and they are stored in a warehouse, enter the address of the warehouse that houses the washing machines.

Zip/City/State

Enter the zip code, city, and state for the location of the rentable item type.

Country

Enter the country in which the rentable item type is located.

Fields

Preferred Method of Contact

From the drop-down list, select the preferred method of contact for the rentable item type. Options include By Phone1, By Phone2, ByPhone3, By Email, By Fax. These options reference the other fields on this tab.

Email

Enter a valid email address for the contact for the rentable item type.

Fax

Enter a valid fax number for the contact for the rentable item type, including area code and country code, if applicable.

Contact 1-3

For each contact for the rentable item type, enter a title (Mr., Mrs., Ms.), name (first, middle initial and last) and phone number including area code and country code, if applicable.

Notes

Type free-form notes into the text box, if desired. You can enter up to 255 characters.

When a user runs the Transfer to GL process and selects that the process is run for Month End, then the Transfer to GL process will include lost rent for the rentable item types that are transferred with the property for which Transfer to G/L is being run.

Use this tab to link the rentable item type to an entity, which is associated with a general ledger account, and to a method of data transfer.

Fields

Note

If you enter a GL Account, Entity is required.
If you enter an Entity, at least one GL Account is required.

Entity

Enter a valid Entity ID for the Entity to affect when processing the transfer to general ledger for this rentable item type.

Type / GL Account

 

Enter a GL Account into Type field(s) to control which Type and GL account the Transfer to GL impacts.

Types:

Loss To Lease Debit
The G/L account established during income code set up used to post the account balance as a debit.

Loss To Lease Credit
The G/L account established during income code set up used to post the account balance as a credit.

Vacancy Debit
The G/L account established during income code set up used to post the account balance as a debit.

Vacancy Credit
The G/L account established during income code set up used to post the account balance as a credit.

Xfer to GL

Select a method to control how entries to this general ledger account transfer to the general ledger. The following methods are possible:

Summary — This option is the default. Accept this default to transfer a summary by Income Code and Transaction Type (such as Recurring Charge, One Time Charge, regular Payment, NSF payment, Lost Rent, etc..

Overall Summary — Transfers a summary by Transaction Type, regardless of Income Code. All billing Transaction Types (Recurring Charges, One Time Charges, Adjustments ) are grouped together.

Detail — Transfers all transaction details. Each transaction creates separate entries.

Delete

Click Delete for the set of selections you want to delete. The delete option appears automatically as you make entries.

Save

Click to save changes.

To Add a Rentable Item

To Edit a Rentable Item

To Delete a Rentable Item

To Print a Rentable Items Setup Summary Report

To Add GL Accounts for Rentable Items

To Edit GL Accounts for Rentable Items

To Delete GL Accounts for Rentable Items

 

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