Report - Portfolio Summary (Month End)

Portfolio Summary (Month End) Explained

The following is an explanation of the 'Portfolio Summary' report available in the 'Insights' area of Palace. The following is an example of the report for discussion.

 

* - Snap Shot Definition: When a 'Close-Off' is performed at 'Month End' a snap shot is taken of the data at that point in time.

NOTE: This is the time and date that this close off is happening, NOT the month end date. So if you are closing the month at 12:30 on the 1st January, the snap shot will include all information entered in the morning of the 1st January. 

If any data is changed after that, this figure will not change as the report is run against the 'Snap Shot' rather than the live data.

Total Gross Management Fees Collected

*- Snap Shot: This is sum of all 'Management Fee' collected in a specific month. This relates to management fees on the 'Receipt - Rent' and 'Refund - Rent' transactions (as well as receipt / refund 'Ledger' directly into and out of this account).

NOTE: The 'Management Fee' on 'Other Amount' are NOT included in this figure at the moment. This is currently under review.

Total Gross Maintenance Fees Collected

*- Snap Shot: This is sum of all 'Maintenance Fees' collected in a specific month. This relates to maintenance fees on the 'Invoice - Creditor ' and 'Payment - Expense' transactions (as well as receipt / refund 'Ledger' directly into and out of this account).

Total Gross Letting Fees Collected

*- Snap Shot: This is sum of all 'Letting Fees' collected in a specific month. This relates any letting fee transactions for an owner that use the Palace setting, if you use Charge Admin Fee and put into your own ledger then it will show in total other fees collected and not this area

Total Gross Inspection Fees Collected

*- Snap Shot: This is sum of all 'Inspection Fees' collected in a specific month. This relates to the Inspection fees on the 'Charge - Inspection Fee' transaction (as well as receipt / refund 'Ledger' directly into and out of this account).

Total Other Fees Collected

*- Snap Shot: This is sum of all 'Other Fees' collected in a specific month. This relates to the fees on 'Charge - Admin Fee' or 'Receipt - Tenant Other' to any 'Fee Accounts' (as well as receipt / refund 'Ledger' directly into and out of this account). This includes the fees that come from the tick "Charge Commission" on the tenancy Invoice button. 

NOTE: None of the stats above will match any Ledger reports as these stats DO NOT include any receipts or payments directly into the ledgers.

Average Management Fee ($ Value / Property)

*- Snap Shot: This is the $ value of the 'Total Gross Management Fees Collected' divided by...

'Number of Management Properties' +
'Number of Commercial Properties' +
'Number of Casual Properties' +
'Number of Holiday Properties'

Average Management Fee (% Value / Property)

*- Snap Shot: This is the % value of the 'Total Gross Management Fees Collected' divided by...

'Total Gross Rent Received (Managed)' +
'Total Gross Rent Received (Commercial)' +
'Total Gross Rent Received (Holiday)' +
'Total Gross Rent Received (Casual)'

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This area below is not supposed to match your number on the lists on the front screen of Palace as it only looks at the criteria below, which is normally active only.

Number of Owners

*- Snap Shot: This is the value of the 'Total Number' of current owners (with an 'End Date' after the 'Close-Off Date' or with no 'End Date' entered). The 'Owner' must also have at least 1 property that is NOT archived. So owners with no properties will not be counted here. If there is a difference between your Owner List and your snap shot, that will be the difference.

Number of Managed Properties

*- Snap Shot: This is the value of the 'Total Number' of 'Managed Properties'. The properties must be 'Active' at the time of close-off and connected to a 'Management' group. No inactive properties will be counted

Number of Commercial Properties

*- Snap Shot: This is the value of the the 'Total Number' of 'Commercial Properties'. The properties must be 'Active' at the time of close-off and connected to a 'Commercial' group. No inactive properties will be counted

Number of Holiday Properties

*- Snap Shot: This is the value of the 'Total Number' of 'Holiday Properties'. The properties must be 'Active' at the time of close-off and connected to a 'Holiday' group. No inactive properties will be counted

Number of Casual Properties

*- Snap Shot: This is the value of the 'Total Number' of 'Casual Properties'. The properties must be 'Active' at the time of close-off and connected to a 'Casual' group No inactive properties will be counted

Average Number of Properties / Owner

*- Snap Shot: This is the value of the 'Average Number' of 'Properties' per 'Owner'. This is made up by...

'Number of Managed Properties' +
'Number of Commercial Properties' +
'Number of Holiday Properties' +
'Number of Casual Properties'

Divided By...

'Number of Owner'

Average Rent (Weekly)

*- Snap Shot: This is the value of the the 'Average Weekly' of 'Tenancies'. This is made up by...

Weekly rent of all 'Tenancies' (Non-archived tenancies in 'Active', 'Managed' properties)

Divided By...

Total Number of current 'Tenancies' (Non-archived tenancies in 'Active', 'Managed' properties)

Properties Won and Lost. Currently these are not a snap shot, which means if you change a status of a property and back date it, it will change this report. This is being changed to make it a snapshot. So in future it will snapshot at the close of time and date and will not change. Any changes that are made to history will only show in the Properties Won and Lost report.

Properties Won

This is taken directly from the 'Properties Won / Lost' log for all properties with a date range covering the specific month. This information can change if the history of the property is edited.

Properties Lost

This is taken directly from the 'Properties Won / Lost' log for all properties with a date range covering the specific month. This information can change if the history of the property is edited

Number of Inactive Properties

*- Snap Shot: This is the total number of current property (i.e. not archived) that are inactive at the time of close-off

Number of Inspections Completed

*- Snap Shot: This is the total number of inspections completed using the Palace inspection App. This includes inspections imported from the App into Palace with an import date within the range of the selected month to close-off. So anything done in the morning of the day of close off will be counted

Number of Inspections Charged

*- Snap Shot: This is the total number of inspections charged (i.e. a count of the transactions of type 'Charge - Inspection Fee' for the current month). So anything done in the morning of the day of close off will be counted

Number Open Work Orders

*- Snap Shot: This is the total number of 'Open' work orders in the current month i.e. current properties with 'Work Orders' excluding those with an Action of.. So anything done in the morning of the day of close off will be counted

Work Completed
Work Invoiced
Invoice Sent to Owner
Quote Declined
Work Cancelled

Number of Properties Let

*- Snap Shot: This is the total number of 'Properties' let within the current month. The criteria for this is the following...

Tenancy must have a 'Start Date' before the current 'Month End' date.
Tenancy must have an 'End Date' after the last 'Month End' date or No 'End Date' at all
Tenancy must have a 'Receipt or Refund' letting fee transaction within the current month
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Number of Vacant Managed Properties

*- Snap Shot: This is the number of current managed (Active) properties that have a 'Date Available' before the 'Month End' Date.

Number of Vacant Commercial Properties

*- Snap Shot: This is the number of current commercial ( Active) properties that have a 'Date Available' before the 'Month End' Date.

Number of Vacant Holiday Properties

*- Snap Shot: This is the number of current holiday ( Active) properties that have a 'Date Available' before the 'Month End' Date.

Number of Vacant Casual Properties

*- Snap Shot: This is the number of current casual (Active) properties that have a 'Date Available' before the 'Month End' Date.

Vacancy Rate (%)

*- Snap Shot: Calculation

('Number of Vacant Managed Properties' 

Divided By...

'Number of Managed Properties') X 100

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Number of Managed Tenants

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Vacate Date' greater than the 'Month End' Date or No 'Vacate Date'.

Number of Commercial Tenants

*- Snap Shot: This is the number of current tenancies (Non-Archived) in commercial properties that have a 'Vacate Date' greater than the 'Month End' Date or No 'Vacate Date'.

Number of Holiday Tenants

*- Snap Shot: This is the number of current tenancies (Non-Archived) in holiday properties that have a 'Vacate Date' greater than the 'Month End' Date or No 'Vacate Date'.

Number of Casual Tenants

*- Snap Shot: This is the number of current tenancies (Non-Archived) in casual properties that have a 'Vacate' greater than the 'Month End' Date or No 'Vacate Date'..

-The important thing to remember as below, is these figures are taken on the day that you close the month, so if you are closing on the first working day of the month, that is when the figures are taken from using the Paid to Date as of that day.   (This will be changing in the New Palace)--

Overdue Managed Tenants (Up to 6 days)

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Paid To' date Less than the time and date of the closing of month end but within 6 days of that date.

Overdue Managed Tenants (7 to 13 days)

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Paid To' date Less than the time and date of the closing of month end  but within 7 to 13 days of that date.

Overdue Managed Tenants (14 to 20 days)

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Paid To' date Less than the time and date of the closing of month end  but within 14 to 20 days of that date.

Overdue Managed Tenants (21 to 27 days)

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Paid To' date Less than the time and date of the closing of month end but within 21 to 27 days of that date.

Overdue Managed Tenants (28 days and over)

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Paid To' date Less than the time and date of the closing of month end and 28 days and over that date.

Total % of Portfolio in Arrears

*- Snap Shot: Calculation...

(Overdue Managed Tenants (7 to 13 days) +
Overdue Managed Tenants (14 to 20 days) +
Overdue Managed Tenants (21 to 27 days) +
Overdue Managed Tenants (28 days and over)

Divided By

'Number of Managed Tenancies') X 100

Overdue Managed Tenants (Vacated)

*- Snap Shot: This is the number of current tenancies (Non-Archived) in managed properties that have a 'Vacate Date' less than the time and date of the closing of month end, a 'Paid To' date less than the 'Month End Close-Off' and a 'Paid To' Date less than the tenancy 'Vacate Date'

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Total Gross Rent Received (Managed)

*- Snap Shot: This is the total rent received in managed properties for the selected 'Month' up to the 'Month End Close Off'

Total Gross Rent Received (Commercial)

*- Snap Shot: This is the total rent received in commercial properties for the selected 'Month' up to the 'Month End Close Off'.

Total Gross Rent Received (Holiday)

*- Snap Shot: This is the total rent received in holiday properties for the selected 'Month' up to the 'Month End Close Off'

Total Gross Rent Received (Casual)

*- Snap Shot: This is the total rent received in casual properties for the selected 'Month' up to the 'Month End Close Off'