Features of Apagen’s Odoo Real Estate Management System

This part gives an summary of the features of the Odoo Real Estate Management system

Tenant (Lessee) Information

You can maintain information about the companies and other people with whom you do enterprise. This data is saved within the Address Book system, and every entry is known as an handle. You should arrange addresses earlier than you may arrange the data related to enterprise models, services, tenants, and leases. It is the first step within the process that makes up the Real Estate Management system.

Lease and Facility Information

You can maintain data and set up requirements for leases, buildings, flooring, and units. This user-defined data contains limitless lines for free-form text. The system can automatically provide requirements to a lease, building, floor, or unit if you add it to the system. The lease setup controls whether you may create A/R invoices or A/P vouchers. Some of the billing processes, similar to manual billing, recurring billing, and sales overage, can produce either type of transaction. Numerous reports can be found which are based on the DREAM Writer facility, which provides you in depth selections related to format and data choice.

Critical Dates

Critical (tickle) dates relate to lease and facility data that require some sort of motion or resolution comparable to lease renewal, insurance expiration, and elevator inspection. The system allows you to handle these dates online and with printed reports.

Manual Billing

You use the manual billing process to bill tenants for one-time costs similar to tenant build-outs, provides, postage, promotions, and repairs. It is a single cycle wherein you use processing choices to specify such features as tax processing. The process also features a text feature that allows you to attach free-form text to a manual billing record.

Recurring Billing

The recurring billing process allows you to automatically bill tenants for receivables, payables, or accrual billings (general ledger only).

• The system can create limitless kinds of billings similar to regular office rent, parking space rent, house rent, estimated expense participation, and escalations.
• These user-defined billings can be arrange for monthly, bi-monthly, quarterly, semi-annual, annual, and odd-period cycles.
• The system may also create prorated billings and catch-up billings, and controls are built in to stop duplicate billings.
• Multiple unit billings will be created for a single lease.
• The billings can debit and credit the same or different account numbers within the general ledger.

Cash Receipts and Adjustments

The Odoo Real Estate Management system has its own cash software process. The screens are comparable, but not similar to those for the Odoo real estate Accounts Receivable system. The primary differences for Real Estate Management are using lease numbers and bill codes. Some of the strategies that you use to use payments are also different.

Collections

The Odoo Real Estate Management system has its own collections system. The assortment process is guided by activity rules established for every building (enterprise unit). You can enter data for a given lease/constructing/unit combination that has outstanding credit and collection issues. You can replace, display, summarize, replicate, or output this data on a report.

Sales Overage and Analysis

For retail tenants, leases are sometimes arrange that contain a low fixed rent or no fixed rent at all. A percentage of the tenants’ sales is billed to their customers in return. Sales overage is the method you employ to robotically generate such billings. These rents will be calculated primarily based on a number of breakpoints and percentages, and the outcomes will be adjusted for minimal and maximums rents and recoveries. The system not only uses the sales history from retail tenants to calculate rent, but it can also analyze the data and current it online and in studies.

Expense Participation

Common area maintenance (CAM) consists of operating bills associated to a property comparable to the price of utilities, taxes, insurance, maintenance, and promoting. Such expenses will be robotically handed on to the tenants. Expense participation is the method that you simply use to invoice tenants a proportion of the bills. It will be topic to limits, base exclusions, gross-ups, account exclusions, ceilings, administration charges, occupancy changes, adjustment amounts and components, and estimated billings.

Estimated amounts for expense participation can also be calculated automatically by the system. The estimates will be based on finances quantities, actual expense quantities, or a proportion enhance of precise expense quantities.

Rent Escalation

Many industrial leases (retail, workplace, and industrial) are arrange in order that the hire quantities enhance regularly based on an index such because the Consumer Price Index (CPI), Porters’ Wage, or a user-defined index. Escalation is the method you use to automatically generate these will increase. The calculations for the rent increase also can include catch-up billing.

Security Deposits

A security deposit represents an unapplied money receivable on a tenant’s ledger. The system is designed to trace safety deposits and robotically refund them when necessary. For each deposits which are required and people that have been received, the data will be seen on-line in addition to printed on studies. Interest could be simple or compound.

A/P vouchers are created by adjusting the tenant’s ledger of unapplied credit. If the tenant still owes money on his or her account, it can deduct the amount from the deposit refund

Revenue (Management) Fees

The system makes use of price type tables to calculate quantities for revenue fees similar to management fees or commissions. These amounts will be based on a variety of G/L accounts and leases. The quantities can then be used to create A/R, A/P, and G/L transactions. For example, a fee management company could use receivables to invoice owners or may use payables to pay a leasing agent. Since this process is user-defined, you may customise it to fulfill a particular enterprise need.

Fees and Interest

The system can generate costs in opposition to late payments. You can arrange many levels of late charges and curiosity for nearly any scenario. The charges will be normal for all leases, tenants, billing sorts, and buildings, or you may make them particular to any mixture of these gadgets. You can use the identical course of to accrue curiosity on safety deposits. Interest will be easy or compound.

Projected Rent

Estimated revenues for occupied and vacant units will be projected into the longer term based on recurring billing setups and market rent data. When you generate projected rent, the system prints a basic report. With the Odoo real estate management system, you’ll be able to create extra reports. Odoo real estate management enables you to design your personal reports based on the projected data from the overall ledger.

Updates and Purges

The system can change or appropriate unpaid invoices and log (detail) lines for leases. It can remove previous or out of date data for leases, properties, and buildings. Both updates and purges will be particular or for a bunch of leases, buildings, or properties inside the identical enterprise unit. The system may carry out world (giant scale) updates on rent price. New rent amounts are created whereas old ones are suspended for user-defined dates.

Tenant Work Orders

The work order process within the Odoo real estate management system lets property managers add, work with, and report on work orders for tenants. This process allows you to handle easy projects similar to maintenance, repairs, tenant enhancements, and emergencies. The prices can then be charged to the associated lease, building (enterprise unit), or each.

Tenant work orders are much like different work orders, besides they require some tenant-specific data from the Real Estate Management system such because the lease, construction, unit, and tenant. In the Work Orders system, you may access the Tenant/Lease Search and Unit Search screens to find and return the data to the associated fields on the Tenant Work Order Entry display. This data defines the setup, limits searches, and controls value inquiries and status summaries for the work orders.