Property Tab

This tab appears when you click Add Property or select a property from the Properties grid. Use this tab to add or edit data for a property. You can set up a property under its correct name, establish ownership, define its size, and enter a proration type.

Note

An asterisk (*) indicates a required field.

Property *

Enter an identification code for this property. This identifier distinguishes the property as a separate accounting entity. Each property has its own income codes, units, residents, leasing agents, and fees.

Property Type

Select the type of property you are adding from the drop-down list. The following types are possible:

1 - Standard Residential
Accept this default to have the system add setup options and screens that are specifically related to managing residential properties.

2 - Manufactured Housing
Select this type to have the system add setup options and screens that are specifically related to the Manufactured Housing property type.

3 - Student Housing
Select this type to have the system add setup options and screens that are specifically related to the Student Housing property type.

4 - Corporate Housing
Select this type to have the system add setup options and screens that are specifically related to the Corporate Housing property type.

5 - Subsidized Housing
Select this type to have the system add setup options and screens that are specifically related to the Subsidized Housing property type.

6 - Standard Commercial
Select this type to have the system add setup options and screens that are specifically related to managing commercial properties.

Policy Code *

Select property policies that apply to the new property. The policy code you select impacts your overall data and affects required activities or fields for the property, as well as your processing rules for daily and monthly activities. Refer to Property Policies Overview for more information.

Company Name *

Enter the name of the company that owns or manages this property. This name appears in report headings.

Property Name *

Enter the name of the property. Two lines are available. This name appears in report headings.

Make Check To *

Enter the remittance name to which all checks should be payable. Two lines are available.

Current Acct Period *

Enter the sequence number and year for the current general ledger accounting period; for example, 01/2006 for January 2006.

Prior to going live with the system, be sure to set this period to one month before the first live month for system operation. After going live, this field becomes a display-only field for this property. The field is updated during the accounting month end process automatically.

Default Sq. Ft

This field displays only if your property type is set to 6-Standard Commercial.

Select the category type for labeling square footage amounts from the drop-down list.

Options

Recovery Active Date *

This field displays only if your property type is set to 6-Standard Commercial.

Enter the date the property is considered active for recovery billings using the format mm/dd/yyyy. This date is used if the first recovery year for a property is less than 365 days.

# of Apts

Enter the total number of units in the property. The default is zero.

Prior to going live with the system, be sure to check the total in this field. This total is validated against the actual number of units set up in the system. After going live, the second grayed-out and unlabeled field to the right of this field is completed by the system. The number appearing in this field is the total number of units for the property calculated by the system, and is based on the total number of active non-waiting list units in the Unit table.

Useable Sq Ft

Box 1—Enter the property's Useable square footage. Useable square footage is calculated by suite and refers to the space the suite physically occupies.

Box 2—Display-only field that shows the property's total Useable square footage amount calculated by the system during the Go Live process; based on the total suite square footage entered in Units Setup during suite setup.

Prior to going live with the system, be sure to check the total in this field. This total is validated against the actual total useable square footage set up in the system. After going live, the second grayed-out and unlabeled field to the right of this field is completed by the system. The number appearing in this field is the total useable square footage for the property calculated by the system, and is based on the total unit square footage entered in the Units detail.

Leaseable Sq Ft

This field displays only if your property type is set to 6-Standard Commercial.

Box 1—Enter the property's Leasable square footage. Leasable square footage is defined as the amount of square footage defined in the lease that was signed between the tenant and management property.

Box 2—Display-only field that shows the property's total Leasable square footage amount calculated by the system during the Go Live process; based on the total Leaseable square footage entered in Units Setup during suite setup.

Rentable Sq Ft

This field displays only if your property type is set to 6-Standard Commercial.

Box 1—Enter the property's Rentable square footage. Rentable square footage is calculated by suite and refers to the suite's useable square footage plus a prorated share of common area, such as hallways.

Box 2—Display-only field that shows the property's total Rentable square footage amount calculated by the system during the Go Live process; based on the total Rentable square footage entered in Units Setup during suite setup.

User Defined Sq Ft

This field displays only if your property type is set to 6-Standard Commercial.

A user-defined field used to enter and track an alternate type of square footage for your property. This additional square footage type may be defined in the lease and does not fall within the Rentable, Usable, or Leasable definition. The user has the option to name this type of square footage in Property Policy Names.

Box 1—Enter an alternate square footage amount to track for your property.

Box 2—Display-only field that shows the property's user-defined square footage calculated by the system during the Go Live process; based on the total User-Defined square footage entered in Units Setup during suite setup.

Default CPI Table

This field displays only if your property type is set to 6-Standard Commercial.

Select the CPI table to use as the default when entering CPI amounts in the tenant file.

Last BOD Date

The display-only last begin-of-day date for processing.

Last EOD Date

The display-only last end-of-day date for processing.

Live Date

The display-only go-live date for the property. The system updates the date automatically when go live processing is run.

Prorate Type

Select a calculation method from the drop-down list; the method is used when calculating prorated amounts. Regardless of the type you select, the days occupied for any month never exceed 30. The following types are possible:

Actual Days in month
Accept this default when you want the monthly amount divided by the actual number of days in the month, and then multiplied by the number of actual days occupied.

Standard (HUD formula)
Select this option when you want the monthly amount divided by 30 days, and then multiplied by the number of actual days occupied.

Annualized
Select this option when you want the monthly amount multiplied by 12, divided by 365, and then multiplied by the number of actual days occupied.

30 Day Prorate
Select this option when you want the monthly amount divided by 30 days, and then multiplied by the number of days occupied, based on 30 days.

ePast Database ID

Enter the database identification for the database to which the data for old residents are copied when they are deleted from the main database. This field is only active for users who are licensed and authorized to use ePast.

Last Acct Month End

The display-only date of the last accounting month end process.

Refund Contact User

Select from the drop-down box the User ID of the refund contact who is to receive an email when a refund file is sent to eFinancials from eSite.

AP Contact User

Select from the drop-down box the User ID of the eFinancials AP contact who is to receive an email when a refund file is sent to eFinancials from eSite.

Vendor ID Prefix

The default is 000. Accept the default or enter three alphanumeric characters. The system automatically assigns a Vendor ID to a resident when using Process Refunds. The Vendor ID is based on entries you make in the following fields: Resident Vendor ID Prefix (entered here) and Next Vendor ID.

Calendar

Select a Calendar for the property from the drop-down box.

NOTE that a Calendar must be set up prior to setting up a property.

Next Vendor ID

The default is 1. Enter a maximum of 7 numeric characters. The system automatically assigns a Vendor ID to a resident when using Process Refunds. The Vendor ID is based on entries you make in the following fields: Next Vendor ID (entered here) and Resident Vendor ID Prefix.