Introduction
The features described in this chapter pertain to a company managing another company's/person's properties. These features enable you to process payments, deposits, statements of accounts, transfers and reconciliations.
There are two methods for the way management fees are administrated.
- The management company collects the rent from the tenants and sends the property owner a purchase invoice for the management fee.
- The management company collects the rent from the tenants and generates a client transfer into the owner's share of a central client account. At any later stage, a bank transfer can be made to the owner's actual bank account.
Property expenses have the same options. The user determines which method to use.
Management Fees and Methods
Set the managements fee method. Click here for instructions.
LogiPro enables each property to apply a different management fee rate and offers an override option as well as an option to use a single global rate to apply to all properties managed.
Client Transfers
Invoices and Reports
- Every time a sales invoice is posted from the owner's company, a management fee can be auto-generated. Click here for instructions.
- When a purchase invoice is created, a transfer can be simultaneously generated from the owner to the manager with a flat rate or percentage based management fee. Click here for instructions.
- Users have the ability to view and filter the Invoices windows according to those charged to the owner. Click here for instructions.
- All transfers, incoming and outgoing payments, can be scrutinised in the Client/Bank Account Activity window. Click here for instructions.
- Bank reconciliations can be set to ignore the client transfers that are generated with each payment between the owners and the managers. Click here for instructions.
- The Statement of Account can be configured to report on each property's financial yield. Click here for instructions.
0 Comments
Add your comment