123Landlord Calendar Now Multi-Owner capable

We've just added an update to the 123Landlord Calendar that will allow you to browse different calendars for each owner you've added.

Previously, you had to switch owners using the "Current Owner" selector, which meant you had to globally change your current owner (and the sub-set of data you're looking at) just to see calendar events specific to that owner.

Now, using the owner drop down box you can just change the calendar:

 

Just make a selection and click the Refresh calendar button.  Note that when you click "New Calendar Item", you are creating a calendar item for the owner you have this drop-down currently set at.  You will only be able to select from Owners you have been granted access to (by an Admin user etc).

 


New Dashboard Option: "Show Data for All Owners"

A new option has been added to the 123Landlord Dashboard to allow administrator users to view data across properties & tenants from ALL owners.

Previously, the dashboard (like all other screens and pages) showed data only for the "current" owner.  We realized from user feedback that it might be nice to show admin users a larger cross-section of data.

Now, when you view the dashboard, everything will function as it normally did - showing data for the current owner.  However, if you check the box labeled "Display dashboard data for all owners":

 

the dash will refresh showing all owner data.

There are some things to keep in mind with this

new option:

1. This is only available to admin users.

2. This option is really only applicable if you have data separated by multiple owners.

3. Because many of the links on the dashboard refer to specific properties or tenants, these links still require you to be set to the proper owner in order to view them.  For example, in "Late Rent" section of the Dashboard, there are links to view payment history for each specific tenant:

 

Now that this shows tenants from ALL owners, clicking a link here might require you to change owners before you can view that page. Fortunately, the system will detect that the tenant/property belongs to a different owner than the one you are currently set to, and will change it on the fly to allow this:

The current owner will be changed to whatever owner the property or tenant belongs to.  Keep this in mind when you access links from the Dashboard while in "All Owners" mode - and that you can always change the Current Owner manually at any time from the "Current Owner" button in the top-right corner of most screens.

 

 

 


Link Users to More Than One Owner

We've just added the ability to link your 123Landlord users to multiple owners.  Previously, you have users that could see *ALL* data filed under all owners, or you could have users that were restricted to data for one single owner.  Restricting users to one owner's set of data was useful for when you wanted to let owner have login access to see their (and only their) data.

We listened to customer feedback and considered that many ownership structures involve multiple owner categories, and often you have users and employees that need to be able to see data across one or two owners, etc. - not just one.  So, we enhanced this a bit.

Now, when you look at the Admin page (on the Users tab), you can see that you can link a user to more than one owner.  Open a user record to see this:

Clicking this drop down list will allow you to select any number of owners.  You can either set it to "All Owners" or one or more.  There is no such thing as a user that cannot access any owners.

Click Save when you're done.

You'll now see that when this user is logged in, he has access to all the owners assigned to him, and can now change the Current Owner to either of these:

Also, when this user runs a report, he/she can use the "Run for all owners" box, which will run the report for all of the owners assigned to him/her.

 

Hopefully, this feature will come in handy for you and offer you more flexibility when setting up your users and owners.  Any questions please drop us a line!

 

 


Send and Display Messages to Users On Your Account

A new item has been added to the top menu bar in 123Landlord - Messages:

This will allow you to create messages and notes for other users (and yourself) to see.  Click the [+] button to create a new one:

Specify the recipients by selecting a user from the list (or all users) and clicking the --> arrow.  Enter an optional subject and some (required) message text.  Click the Send button to create the message.  A message will be created an sent to each user you have specified.

When you create a new message, it will also appear as a notification on the dashboard for all users you have selected as recipients:

 

This notification will be displayed on their dashboard until they dismiss it.  All messages are available on the Messages screen:

 

You can create new messages from here as well, and delete and view existing messages.


Events Calendar Added to 123Landlord

Today we added a Calendar of Events to 123Landlord - this will allow you to keep track of important events and dates such as inspections, move ins, move outs, etc. - basically anything you want to keep tabs on.

To use it, click the green "Calendar" button at the top-right corner of most pages in 123Landlord - the calendar screen is then loaded:

 

You can add events, specifying a title and description/comment.  Events can be "all-day" with no time component, or specific to a start and end time range.  You can color-code the event item as you wish.

The Calendar will also display certain system dates - these are: lease expiry dates (lease end date), work order due dates, and tenant birthdays (the DOB field on the tenant detail screen).  The system will also display contact history follow-up reminder dates, only if the 'show follow-up date reminder on dashboard & calendar' box is checked for that contact history entry (again, on the tenant detail page).

You can switch between three different calendar views - either 'month', 'week', or 'day'.  The system will remember your selection for the next time you visit the calendar screen.

Note: like most data in 123Landlord, all calendar events are specific to the current owner - set on the "current owner" button.  You can switch between owners, add calendar events, switch back, etc.  Note that the calendar is currently visible to all users in your account, however users that have been limited to viewing data for a particular owner only will only see calendar events for that specific owner (they will not be able to switch owners).

 


Send Letters Directly From Tenants screen

We've added functionality to the Tenants tabs to allow you to send personalized letters and automatically filled PDFs directly, rather than on the Documents --> Letters and PDFs areas of system.

From the Tenants page (click the Tenants button to get there), you'll see the "Send Letter or PDF form" button:

Select one or more tenants (using the check boxes for each row) and click this button.  The "Letter & PDF Options" screen appears:

You can select between Letters & Forms you have created, or auto-fillable PDFs you have uploaded.  NOTE: You must have created/loaded these documents first for them to be available here.  Click Documents & Files --> Letters & Form Templates or Auto-Fillable PDFs first to do so.

If you're emailing the letter or PDF, you can choose whether you want to have one file for each tenant (typical) or have all tenants on the same file.  Enter a subject and an applicable email body.

To Email the letter/form/pdf, select whether the email should go to the tenants themselves, or to other recipients, and click Email.

To print the document (all tenants will be on the same PDF in this case), click Print.


Work Order Comments Now Available

Today we released an update to the Work Order screens.  We revised the user interface slightly to remove some of the clutter - the biggest change was just to move the accounting fields to their own tab, and we also added a new tab, the Work Order Comments tab.

Many of you asked for a separate, dedicated comments area for work orders - before now you could add to the work order description field and keep track of changes to the work order there, but it was cluttered and lacking.

Now, a separate tab is available on the Work Order edit screen (NOTE - this is available for saved work orders only, not NEW work orders.  After you create the Work Order record and save it, the Comments tab will become available when you re-open the record to edit it.)

Click the Add New button enter a comment and save it.

Work Order Comments appear in a sorted table:

 


Downloadable User Manual for 123Landlord

We're releasing the 123Landlord User Manual for general use now - it contains everything you need to know to use the system effectively and fully.  Topics range from basic step-by-step instructions on how to get started, to more advanced concepts about different lease setups and charge scenarios.

The manual contains screenshots throughout - it is quite long (currently 183 pages!) but the best way to approach the manual is to seek information as you need it - look through the table of contents and jump right to what you need, etc.

If anything is unclear, please don't hesitate to drop us a line!

PS - you can also purchase a printed, bound (saddle-stitched) copy of the manual for $39.99 (includes shipping & handling) here:

https://www.plimus.com/jsp/buynow.jsp?contractId=3190912


New Late Fee Settings for "Per-Day" Late Fee Charges

In 123Landlord, you’re able to have late fees accrue each day, based on the number of days late, a grace period, etc.

Up until now, if you created a lease that had per day late fees enabled, you would see something like this on the payments due screen (keeping in mind that “today” is May 28):

So we have a Rent payment due on May 1, and a $245 late fee has been assessed, based on the # of days late (27).

If you paid the rent payment in full, and checked the "This payment satisfies the late fee" box when doing so, the system assumes this means that the late fee has been either paid, or written off / forgiven, and it will also disappear from the payments due list.

If we wanted to pay the rent, but keep the late fee owing (let's say you only received enough money to pay the rent, and you still want to receive and post a separate payment for the late fee), we would of course NOT check the "payment satisfies the late fee" box and the rent would be paid, and the late fee would still be showing due:

 

The late fee payment is showing as 27 days late, and is still $245.  The Rent payment is gone, it has been paid.

What would occur, however, going forward is this: as the days advance, the late fee would continue to accrue, based on the days it is late.  Even though the associated rent payment was paid in full, the late fee would continue increasing as time went forward.

Sometimes you might want this, sometimes you might not.  If this is not the desired behavior you want with your late fee, this new setting is for you.

So now on the Lease Edit screen, on the Late Fee tab, we have this setting:

 

The "Stop Calculating Per Day Charges When Rent Has Been Paid in Full for the Period" box allows you to limit how far late fees can accrue when rent has been collected in full.

When this box is checked, the system will look to see if the rent for that period has been paid in full.  If it has, and the late fee is set to a per day type, the system will look to find the last/most recent rent payment for that period.  Based on the RECEIVED DATE of that payment, the system will cap the late fee amount at that point.  Whatever the late fee was at that point in time (when the rent was paid in full), that's where it will remain, no matter how long into the future we go.

Turn this setting OFF, and late fees will continue to accrue indefinitely based on your other per day rules, until you either collect the fee in full, or check the "this payment satisfies the late fee" box to ignore them.

As always, let us know if you have any questions about how best to use this setting.


First-class support for Complete Statement of Charges - Bulk Emailing & Printing

When our users would ask us "where can I find a complete statement of charges for a tenant?", we would direct them to one of two places - the Complete Statements + Payments report in the Reports area, or the Charges & Balance tab of the Tenant Detail screen.  The latter wasn't properly print-friendly, and the former took a bit of clicking to get the filtering down to the right tenant etc.

Now, we've added a new Statement document that is fully integrated into 123Landlord, just like Invoices and Receipts, which means you can generate it for one or any number of tenants, and it will show all charges, due and fully paid, across all payment types and fees.  These include Rent, Late Fees, and any of the "Other" charges you have set up on the Lease (recurring, start-of-lease, end-of-lease, or manual date payments).  The Statement can be emailed as a one-off directly to tenants or other recipients, can be printed, and (just like invoices & receipts) it can now be bulk emailed, to any or all tenants, or any number of recipients in a batch.

The Statement is generated on the Tenants page (click the Tenants main toolbar button).

Select one or any number of leasing tenants and click "Generate Statement":

 


The 'Statement Options' popup appears:

 

You can specify a Statement Date, whether to include secondary tenants, whether to include closed leases, and whether to display payment history details.

Follow the instructions in the post about Bulk Printing & Email Support for Invoices & Receipts for more info about how this now works for Statements.

 


Improved Secondary Tenant Support on Tenants & Properties Pages

By user request, we added some minor improvements to the secondary tenants panel that is visible when you expand a tenant or property on the tenants (or properties) pages.  When you have secondary tenants assigned, you'll see this panel:

 

We've added the email address (if available) for the tenant in the tooltip, and a link to send email to that tenant in the system.  We've also added the phone number and cell number (if added) and the last date of contact (from the contact history entries for that tenant).

 

 


Bulk Tenant Importer Now Available

Now, you can import multiple tenant records at once using the new 'Bulk Tenant Import' functionality.  This will allow you to save time by loading multiple tenants at one time, as opposed to manually creating them one-by-one.

Note that the tenant records that are created in the system using this tool are without a lease attached to them - you'll still have to do that (link them to a property by creating a lease for them in the system) but this saves one extra step.

To use the bulk importer, click the 'Add New Tenant' button on the Dashboard:

or, the 'New Tenant' button on the Tenants page:

There is a link to the Bulk Tenant Importer here - Bulk Import Multiple Tenants - click it:

The Bulk Import Multiple Tenants screen loads:

To use this feature, enter a single line of data for each tenant you want to import.  The line must be formatted properly or it will be ignored.  Each field must be separated by commas, and be in the order specified: FirstName, LastName, Address1, Address2, City, State/Prov, Zip, Telephone, and Email.   You can omit fields but ensure a comma is still in its place.

When you have added your tenant information and are ready to import, click 'Add Tenants'.

If you are already on the Tenants page, the No Lease / Former tab will refresh and your tenants records will be loaded.  If you are on the Dashboard page when you start the import, you will be redirected to the Tenants page to view the results.

 


Small Improvements for Admin Users

Today we added the ability for Admin users to set the initial password when they are creating new user accounts.  We realized that it is often helpful to be able to know the password of a user you are creating yourself, at least until they log in and change it, just to be able to log in as them, test what they can see and do in the system, and just to assist them if they need help.

We also added the ability to reset/change an existing user's password if need be.

You can access these two new features on the Admin page, on the Users tab.  Click 'Add New' to see the Initial Password field, and click Edit on an existing user to see the 'Reset Password' link.

Obviously, you'll need to be an Admin user in the first place to be able to access these features.

 


Big Improvements to Invoice and Receipt Creation

We just added some great enhancements to how invoices & receipts are generated in 123Landlord.

Bulk Sending to Tenants or Other Recipients

Previously, when you generated an invoice (or receipt), you had the option of emailing it, but you could only send one email at a time.  This meant that if you wanted to send all your invoices to the appropriate tenants, you had to generate them one-at-a-time and email them out separately.  This was time consuming, so we fixed it.

Now, you can select any number of charges (or payments) across any number of tenants and generate separate invoices (or receipts) that can be emailed separately to each tenant on the invoice, or to any other recipients.

You can also specify a default subject header and body for invoices (and a separate one for receipts), and combine this with the email signature in your settings.

Finally, you can even modify the subject and body of *each* message, as well as add or remove recipients BEFORE you send out your invoices and receipts.  So now you have complete control over how these documents go out.

Here's a step-by-step outlining how to do this for invoices (the process is essentially the same for receipts, except it starts on the 'Payment History' tab):

1. Click Payments --> Payments Due.  The Payments due screen loads.


2. Select a number of receivables across two or more tenants by checking the boxes on the left side of the page.  Click the Generate Invoice button.

 


3. The Invoice Options popup screen appears.  Here you can configure the invoice.

 


The 'Separate Invoice' options have not changed - these define how each tenant's invoice is grouped.  You have all the charges for a tenant on the same invoice form, or have a separate invoice (page break) for each payment type, or even for each individual amount due.

The 'Email Attachment Options' allow you to specify whether the invoices are broken up BY TENANT into separate files, or to have all invoices on one file.  In most cases, if you've selected charges across multiple tenants in step 2, you'll want them in separate files ("One file per tenant").  If you've only selected charges from ONE tenant in step 2, this option is irrelevant.


You can type a default 'Email Subject' and 'Email Body' for the email that you'll send.  This will be saved for future invoices and emails.

4. You now have the option of specifying whether or not you're sending the invoices to your tenants (the primary tenants on the invoices) or to other recipients.  If you select "To Other Recipients", you'll have to add recipients later.  For this example, select "To Tenants" and click 'Email Invoice'.


5. If you've only selected charges for ONE tenant OR you have the email attachment options set to "One file for all tenants", the usual email popup form will appear, allowing you to send ONE file attachment to one or more recipients.

HOWEVER, if you've selected charges for more than one tenant and you have the email attachment options set to "One file for tenant", you'll be taken to the new bulk email screen, "Send Invoices & Receipts":



6. The "Send Invoices & Receipts" page shows an entry for EACH tenant, with their email addresses pre-filled in the To: column (if the tenant has an email address on file in the system).

7. You can click the 'Details' arrow and open each individual email message.  The subject and body have been pre-filled, if you've supplied a default for either in step 3. You can freely edit these on a PER message basis.  You can also add or remove recipients for each message. Click Save when done.



8. You can click the Invoice.pdf link to preview the invoice that will be sent for each tenant.  Each invoice should show only the charges applicable to each individual tenant.

9. You can check the Cc me or Bcc me boxes and specify which email address you want a copy of the email(s) to be sent to.  This allows you to receive copies of the outgoing emails as well.



10. You can click 'Send' on a per row basis to send the emails individually, or you can click 'Send All Emails' to send them all. Simple!

 

 

Also: Fixes for Missing Tenant Email Addresses

We also fixed an issue on the original email invoice/receipt popup where the tenants' email addresses weren't being automatically added to the screen when you wanted to email the document to them.

Previously, you clicked Generate Invoice, configured it on the Invoice Options screen, and then clicked Email - the email popup opened and you had to manually go and search for your tenants to get their addresses added to the To: or Cc: fields.

This email popup will still appear if you're working with one tenant (or want all invoices in one file) but now when you're configuring the invoice (or receipt), you have the option of specifying whether you want the email to be sent to the tenants on the document, or other (non-tenant) recipients.

If you specify tenants (which is the default option) - the email is now pre-loaded with the email addresses of the primary tenants on the invoice or receipt.  If there is more than one tenant on the document, the email addresses are loaded into the Bcc field.  If this is just one tenant, it appears in the To: field.  If tenants don't have email addresses on file in the system, "no email address" will appear for that tenant and they will not receive the message unless you go back to their tenant details screen and add an email address.


Infrequent Payments, or Payments Half Due This Month but Fully Due Next Month

Q. How does one program infrequent payments due - for example, the tenant pays only 50% for the first half month, then reverts to a monthly pattern, or pay monthly and exit halfway through the next month?
 
A.  Payments that are due infrequently should be added to the lease as "Other Charges" - typically these would be due either when the lease starts or ends (once), or once on a specific date.  You can add these on the Other Charges tab of the lease edit screen.
 
For your examples about half the first month and then monthly etc - typically there are two ways to do this:
 
- If you're referring to rent, you can set up the lease regularly, say with monthly payments of $1000.  The system will show the payment schedule, with each month owing $1000.  You can click the first payment due date, and edit the amount due here to $500 - the rest of the payments remain at $1000.  You can do this with any due date.
 
- If you're referring to other non-rent charges (the same ones on the Other Charges tab mentioned above) you can't directly edit the amounts due.  What you can do is add them at $1000 due each time the rent is due (every month) and then when you actually collect the first payment, you can collect $500 and still flag the due date as "fully paid" - the system will accept this amount and everything will balance.
 
Hope this helps!

 


Improvements to Payments & Accounting

Today we made some internal improvements to the way accounting entries are created when you record a payment.  Most of these changes are internal and not overtly visible, but we thought we'd pass the info along to our users in case they notice the change or there is a specific issue that is a result of this change.

Previously when you record a payment, the system would remember the last account code (from your account code list in the Admin page) for the payment.  It would also remember the last account code used for any late fee payments.

That was helpful, because you didn't have to manually create an accounting entry, but there was a problem with that simplified approach.  Often, you might have wanted to file some payment types in a different account code than other payment types.  For example, you might have wanted to store Rent payments in "Rent Income" and "Parking Fee" payments in another account code, let's say "Misc Payments".  This was a bit cumbersome with the old way of doing things - you really had to make sure that the proper account code was set before you recorded the payment.

Now, we have built in a mechanism where the system will remember the last account code used for each payment type.  So no matter what payment type you record, when you switch to another one, it will remember the right account codes to use.  It's much more flexible now because you just have to define the payment type --> account code relationship once (on the manual Collect Rent screen) and it will be remembered for that type, but not affect any other types - you can now freely break up your income accounting entries into more specialized buckets for reporting purposes and the like.

Special note: since the system is now using a different way to "remember" these types, you might have to double-check and reset your payment to account associations once.  You can do this by clicking the green Pay button for a due payment and clicking "More Payment Options" - then, on the collect screen, scroll down and look at the accounts selected for the payment.  You can fix them here, and save the payment - this setting will be remembered for that payment type.

We have spot checked a few accounts and everything appears correct, but it might be worth a look to make sure you accounting entries are going to the right accounts when you collect a payment.  Drop us a line if anything looks off.

Regards,

The 123Landlord Development Team


Updates To Form & Letter Fields Plus New Template: "Notice of Outstanding Charges or Late Payment"

Today we added some long-awaited form & letter fields to the document editor.  These are all for documents using the most common lease data fields:

  • Rent & Late Fees(Table)
  • Rent & Late Fees + Payments(Table)
  • Recurring Charges(Table)
  • Recurring Charges + Payments(Table)
  • Fixed Charges(Table)
  • Fixed Charges + Payments(Table)
  • Manual Charges(Table)
  • Manual Charges + Payments(Table)

 

When you include these field tags in a letter or form, they emit a detailed table of charges of the particular type (rent & lates, recurring charges, fixed charges, and manual charges) - amounts due, amounts paid, and balances.  The tags that have the "+ payments" suffix will also include a payment history, rolled up to the particular due date or charge type.  A total row is also displayed.

These tables are the same as the charges and balances displayed on any particular tenant's detail page (click Tenants and then click the Details button, and go to the 'Charges & Balance' tab.

  • Payment History(Table)

This field will generate a payment history table showing all payments on the lease, with a total row as well.  This is the same payment history that you'd get by looking at the Payments --> Payment History screen in the system and filtering to a particular tenant or property, or by running the Payment History report (on the Reports screen) for a particular tenant.

  • Current Balance

The Current Balance field will simply display the final current balance (or credit) for the tenant/lease.  This is the same calculation and amount that is displayed on the Tenants page (Balance column) and at the top of the Charges & Balance tab on the Tenant Details page.

Having the ability to generate this information in a form or letter allows you to be flexible in how you print this information and is one more way to communicate with ten

ants, owners, and partners.  You can combine these tables in any form or letter template to produce any number of letters.

An example of these new fields is now available in a new form & letter template - Notice of Outstanding Charges or Late Payment.  This is a letter that you can customize and send to tenants when they have missed rent or have outstanding charges.  You can copy this template to the 'My Letters & Forms" list and edit it how you'd like.

 


Regarding "Last Month's Rent"

Often we get a lot of questions about collecting last month's rent or catching up back rent.  Sometimes we get users that ask us to add 'Last Months Rent' as an "Other" payment type in the system.  For most cases the system should already be capable of posting a payment for last month's rent - if you've created your lease with a start date back far enough, the system will start expecting payments from the 'first payment due on' date in the lease setup.

Then, you can collect back rent as usual.  If you're collecting money today for due dates that are back in the past (i.e. money in arrears), you should apply money received for past months to those specific due dates in the system, to catch up those months.  The software will keep track of what's due vs what's owed for each due date, so you should able to collect last months (any month's) rent in the normal fashion without using an 'other' type for this.

Let us know if you have questions about how to collect any types of payments - the system will handle most scenarios just fine - searching the blog for specific topics should pull up some other articles about collecting specific types - HOA payments, late fees, security deposits, section 8 payments, etc.


Common Questions: Recurring Expenses, PDFs (Assessor's Report)

Q. How do I edit reoccuring expenses/income. For example, in one property, the monthly HOA fee is $242.31 per month. It stays this price until it increases. Do I merely go in and change it to the new price?

A.The recurring expenses area is auto-generated and the child entries that are created generated can only be edited after they have been generated.  Make sure you edit the child entry (the one that was auto-created), instead of the master, which is the template for all future recurring ones.  Ideally, you'd just set up the recurrence to be far enough ahead until the next price change (i.e one year for HOA fees typically, I would guess).  That way you don't have too much editing to do.  But yes, you can modify some of the child entries if the actual fee has changed.  After the recurrence has ended, you can set up another recurring entry for the new year etc with the new price.

Q. I have downloaded the assessor's report for my property. It is a PDF format. Where do I store it?

A. PDFs should be uploaded to the Documents& Files --> Auto-Fillable PDFs area.  If the PDF has embedded editable fields in it (some do, some don't - the creator of the actual document will have done this, or not) - but if it does have editable fields, you can link these to data fields in 123Landlord and auto-fill some of the data when you generate it for one or more tenants/leases.  Or, you can also store these types of files in Documents & Files --> Common Files - these files are shared by all users on your account, if you have added any extra people.


Credit & Criminal Background Reporting Now Available in 123Landlord

What we'd like to share with you today is that we're pleased to be able to offer instant credit checks and criminal background reporting on your 123Landlord tenants and applicants.

There are two ways to get access and start running reports.
- Business Users can get deep integration with 123Landlord through our partnership with the ONLINE Rental Exchange.
- Individual Users can run the same reports larger property management firms run (without a formal approval process) through our partnership with TransUnion SmartMove.

 


TO GET STARTED:

- Sign into 123Landlord

- Click the Services button at the top of most screens.

- Select the Credit Reports & Criminal Background Checks tab

- Choose either the ONLINE Rental Exchange option or the TransUnion SmartMove option and sign up for an account.

- That's it - you're ready to start screening tenants!

HELP DOCUMENTATION:

For our business ONLINE Rental Exchange users, we've put together some step-by-step help documentation that you assist you in running your reports.

123Landlord_ONLINE_Help.pdf (1.33 mb)

As always, if you have any questions please drop us a line and let us know!

OFFICIAL PRESS RELEASE:

123Landlord_ONLINE_PressRelease.pdf (222.54 kb)


New! Automatically Calculate Management Fees for Owners

The vast majority of our users are either landlords that own, operate, and manage properties for themselves, or are property management firms that manage property and tenants on behalf of their clients (who typically own the property).  For property management companies, their fees are often derived from a percentage of payments received.  Prior to now, there wasn't an easy to have 123Landlord keep track of this.  You could have set up an expense entry for each month that was the result of you manually totalling your collected payments for that month, and you could have even set this is up as a recurring accounting entry (although it's rare you would know the total payment value collected beforehand).  This was a bit clumsy.

With this update, we've made this super simple.  We've built in support for property management companies that charge either a percentage or a flat rate per month.  We've also added the ability to base your fees on either collected payments, or on both collected & uncollected payments.  You can base your fees on either 'rent & non-rent charges' (so everything you've set up in the system), just rent & late fees, or just rent only.

Adding Management Fees

The first thing to do is to make sure you've got one or more owner records added, and you've added your properties, tenants, and leases under the correct owner.  You won't be able to use the 'None' owner for management fees.  If you've done this, you've been collecting your payments and generating payments due for each owner separately, and you can switch between owners to do data entry and run reports. More info about Owners here:

http://blog.123landlord.com/post/2011/12/30/Frequent-123Landlord-questions-moving-data-between-owners.aspx
http://blog.123landlord.com/post/2011/11/17/Move-a-Property-From-One-Owner-to-Another.aspx
http://blog.123landlord.com/post/2012/03/15/Run-Reports-for-All-Owners.aspx

If this is all set up and working how you'd like, you're ready to add Management Fees:

1. Click the Admin button to display the Admin page - you'll of course need to be an Admin user.

2. Select the 'Mgmt Fees' tab and click 'Add New'.

3. The New Management Fee screen appears:

Enter a descriptive title for the fee configuration, and select the Owner for which it will apply. You can select between a percentage based fee, or a fixed amount - in either case, enter the rate or amount.  For percentage based fee regimes, select whether this is calculated from collected or both uncollected & collected payments.  Also specify the type of payments used in the calculation (rent & non-rent, rent & late fee, or rent only).

Specify the date range for which the fee structure will apply.  Normally this would be for the entire year, or specific fee periods (quarterly, etc.) If you change your fees throughout the year, or only charge a fee for a certain portion of the year, specify it here.  You can add more than one Management Fee record for each owner, so you can create however many different ones that apply.  When you run the Management Fee report later, you'll specify a date range, and fee configurations you set up here that fall within that date range will be used in the report, so you have ultimate flexibility here.

4. Click Save.  You can add more if you have more than one owner to set up fees for (you should add at least one fee setup record for each owner you collect fees from, even if the rates are the same for all of your owners).

Once you're done setting up your fees, you can run the Management Fee report.

Running the Management Fee Report

1. Click the 'Reports' button.

2. Scroll down the bottom of the page, to the "Owners" reports, which contains the one report, "Management Fees":

3. You can have the report run 'as of' a specific date, for example - everything as of now.  Or, you can select a custom date range.  If you choose the as of date, the report will generate all fees based on the start and end dates of the management fee configuration set ups, up until the cut of (or 'as of' date) you specify.  If you select a custom date range, the report will pull management fees from your configurations that fall within that custom date range.

4. You can choose to show or hide the collected and/or uncollected amount columns.  This is handy if you've previously defined your management fees to be based solely on collected fees, for example, and therefore the uncollected column is irrelevant.  Special note: if your management fee is set up to be calculated from both collected AND uncollected amounts, but you chose to hide the uncollected column for example, the report might (correctly) show a fee total, but it might not be clear what the fee is based on (since the amount it is based on is hidden), and especially if the collected column is showing a $0.  In this case, the report will show a [1] footnote to indicate that the fee is based on an amount that is hidden by your report settings.

5. You can also choose to hide months with zero fees, and these will be suppressed in the report.

6. Click the 'Management Fees' report link, and the report is generated.

 

The report (like most of the other reports) is by default generated for the current owner selected in the 'Current Owner' button (top-right corner of most screens).  You can run this report for all owners by checking the 'Run for all owners' box and clicking Run Report again.  You can group the report by owner to show a owner name heading, with each owner's monthly summaries grouped together and totalled.  You can sort the report by various columns and fields as well.

Don't See Any Results in Your Report?

Make sure that your 'current owner' is not set to 'None'.  Also make sure that the date ranges of your report fall within the date ranges of one or more of your management fee setup records.  And finally, ensure that you actually have collected payment data (for fees that are derived from 'collected' payments) or you have created some leases that have become due (i.e. you have balances showing on the Payments --> Payments Due screen for those date ranges).




Emailed Invoice & Receipts Now Added To Contact History

Now, when you send either an invoice or receipt via email through 123Landlord, the system will create a contact history item for the tenant, provided that:

- You must already have added the tenant's email address in the system (on the tenant's detail page, click 'Edit' in the Contact Information area).
- On the email popup screen, instead of typing the tenant's email address, start typing the tenant's name - the system will auto-fill the tenant name, then just select it and click the TO: button.
This ensures the system knows the recipient is a tenant, and not just anyone - creating a contact history for a tenant would not be applicable if you were just sending the invoice to a non-tenant, for example.
- If you have the contact history already open (i.e. in another tab) you might have to refresh that page manually to see the new entries.

Also new: the contact history item will now also have a link to the original attachment, which you can pull up for viewing later.


Auto-Create Expense Entries with Work Orders

Previously in 123Landlord, when you created a Work order in the system that had a cost associated with it (as most do), you could enter the labor and/or material costs for the work order.  However, in order to record this in your bottom line you had to also go into Accounting Entries and create a separate Expense entry for the amounts as well.  This was a bit time consuming and based on user feedback we agreed it was time to add some features to address this.

Now, when you create a new Work Order, you'll see there are fields at the bottom of the popup screen to specify that any amounts you add for Labor cost or Materials cost can be applied to expense accounting entries, which will be created automatically:

By checking either check box, you either create a new expense entry (for new work orders) or you will edit the existing associated expense entry for the work order (if you're editing/re-saving an existing work order), so the expense entry will always stay in sync with the work order.

The accounting entry will have to have an entry date on it - so it needs to know which date you want to copy from the work order - you can have the expense entry get its date from either the Opened On date, Date Due, Work Started date, or Completed date from the work order.  Make sure that for whatever date field you select here, there is an actual date entered on the work order - for example, if you want the expense entry date to be the same as the work order's Completed date, make sure you actually fill in a Completed Date for that work order.  The system will popup a message to warn you about this if you forget:

You should also specify the account code to file the expense entry under.  You can choose from the existing expense accounting codes.

Important things to remember:

- If you delete the work order, the associated expense entry will NOT be deleted.  This should be done manually.  Also, if you un-check the box for either labor cost or materials cost on an existing work order and save it, this will not remove any previously added accounting entry - you should do your deletes manually on the accounting entry side.

- If you edit an existing work order that has a linked expense entry, and you change the amounts for labor cost or materials cost, the associated amounts in the expense entry will also change.  If you change what account codes or what dates it is based on in the work order, the expense entry will also change account codes and/or entry dates.

- If you create a work order with the labor cost check box checked, you'll need to make sure that an actual non-zero amount is entered in the labor cost field (same goes for material costs).  The system will warn you here as well:

- If you specify an account code for the accounting entry and for some reason you subsquently delete those account codes on the admin screen, the account code will be reset to 'none' for those entries.  This was always the case for accounting entries when the master account code was deleted, so nothing has changed here.


How Do I Generate A Month-By-Month Rent Roll Report?

The rent roll reports are available on the Reports page.  (Click the Reports button to get there)

There are a few different types of reports - each contains some combination of rent outstanding, rent collected, either only for incomplete and due periods, or for periods that are fully collected as well.

You can filter the report by any 'as of' date, or a specific date range (i.e one month at a time).  You can also filter for specific tenants, properties, or buildings.

To roll the report up by month, select 'Lease Period' in the grouping drop down list (on the report screen) and click the 'Group Records' button to refresh.


How Do I Enter Existing Lease Balances?

We often get asked by new 123Landlord users who are setting up their leases "how can I enter an existing lease amount owing or balance into the system?"  Here's the best way to do this:

  • Create your properties and tenants in the system first.
  • Then create leases for the property/tenants, with the Lease start date being any date (even the real date in the past from your lease paperwork (eg Sept 30, 2002) but the 'first payment due on date' to be February 1st, 2013 (which is when you started entering data into the system.)  The first payment due date is used by the system to determine when to start expecting rental payments due.  This means that if you want to enter in past history, select a date further back as the first payment due date - but be aware you'll have to back-collect payments for these due dates to bring your tenant in line so the system will no longer consider these periods "late".
  • For existing balances owing, manually adjust the first due date shown the 'Payment Schedule' section of the lease edit screen to include any additional amounts owing.
    For example, if on Feb 1st the tenant would normally owe $1000, but there is a balance outstanding of $350, click the first due date (you might have save the lease first and/or click Refresh to see your due dates) in the 'Payment Schedule' section and in the 'Amount Due' field enter $1350.  Make sure you click Save Lease at the top when you're done.


This will cause the due date you've adjusted to include your existing balance - you can collect this amount over any due dates going forward, but they should be applied (when collected in the system) to that first (eg Feb 1) due date to have the system account for it properly.