Adding a new Property

See also: Adding a New Commercial Property

Preparation for  Client/Trust Accounting - if the owner of the property is an Owner Group with more than one owner being paid a share, the Owner Group should be set up before adding the property. See Setting up an Owner Group.

There are several different ways to add a property:

Option 1)
1. Using the Quick links menu select '+'.
2. Select 'New Property' under Properties & Tenancies.



Option 2)
1. Go to Properties in the main menu.
2. Select '+ New Property'.
3. Properties can also be imported in bulk using the 'Import Properties' button.

1. Use the Google map search to locate the property.  This completes the address information. 
2. If you use google to find the property, the Address & Property Name will be populated. Alternatively, type in Address & Property Name information manually. 
3. The Property Manager selected will receive all dashboard notifications relating to this property by default.
4. The Usage Type selected will alter the steps of the wizard.  Commercial and Mixed-use properties will use areas.  Residential and Mixed usage properties will have an option to add additional data relating to bedrooms, bathrooms, insulation, smoke alarms, and pool fencing to be entered later in the wizard.
5. The Type of Property, for instance, Commercial, Hospitality, Retail. You can add new property types as required.
6. The Anniversary Date records the annual Management Agreement renewal for this property. If irrelevant, you can leave this field blank.
7. Select 'Next' to move to the next step in the Create New Property process.

Owner Ledger Details 

To add Owner Ledger details, enter the Owner Name which will populate a new contact and Ledger Title.

1. Select a Payment Method and enter banking details.
2. The Payment Particulars, Code (NZ only) & Reference will show on the Owner Bank Statement when payment has been received. 
3. Under Disbursements, there are 4 Owner Statement Types to choose from, select the most appropriate for your landlord.
4. The Account for Owner Disbursement should already exist in your chart of accounts, it will be the same code used for all owners.
5. The Expenditure Limit is displayed when creating maintenance tasks, and if an expense is entered for greater than this amount the user is prompted to authorise the expense.
6. Select Send Owner Statements delivery method.
7. Select which Disbursement Profiles this owner will be included in.
8. Select 'Next' to move to the next step in the Create New Property process.

Property Areas

Areas are used to define the spaces within a property. You can add as many areas as are needed.  

All commercial properties need to have at least 1 area set up. The areas are used on the Tenancy Schedule report, as well as to determine the occupied % shown on the property summary screen. For residential properties this step is skipped, areas can still be used, but need to be added after.

1.  Give each Area a Title, then select an Area Type from the drop-down list.
2.  Size is compulsory for most area types, if you are not sure or if the size is not relevant, set the size   as 1. The Unit of Measurement options are m2, ft2, hectares, acres.
3.  The Annual Market Rent will provide information for reports which compare your actual rent against the market rent.
4.  If an area type is set to a type that is Non-Measurable it will not have space to enter a size or market rent. Common areas could be non-measurable.

NOTE: Carpark Areas - set how many numbered carpark areas are required, to a maximum of 99, and they will be generated upon save.  Carparks do not have a size and the Annual Market rent entered should be per space. Click +Add Another Area to add more areas to the property.  When all required areas have been added, select Next.

Property Details 

Add Property Details, if the usage type specified in the first step was Mixed or Residential the residential details section will be shown.

Resources
Add Resource and key information to the property. More than one of each record type is allowed, use the option to add more after each entry.  All entries on this page are optional. 

• Insurance policies are recorded against the contact listed as the Broker, and generate a dashboard reminder when due for renewal.
• Add the Certificate of Title details.
• Add Valuation details.
• Generate multiple keys, once created the keys can be checked out.
• Upload as many documents as required, these will be available in the property file and the Documents Library.

Alternatively, these key details can be added after the Property has been created. In which case, please select 'Skip This Step'.

Images 

Upload as many images as required.  Images can also be appended to completed maintenance and inspection records. Usually, the images loaded in this area would be marketing images.

Drag photo's onto the screen, and drop to upload.

The Primary Image is the thumbnail used throughout Re-Leased.

Completed Successfully

The final steps to adding your property are displayed.

Select View property fee rules to check that the fees in place match what you've agreed with the landlord. View property to make adjustments or record more details about your property.