Owner Details Screen Explained

You can access some of the Owner information quickly without going into the Edit screen. Either Double click on the owner or click on the Details/Summary button at the top of the owner list.

Owner Detail Tab: Shows all the contact information for the Owner.

  • Click on the Owner List (Left hand side menu)
  • Click on New (Top Page), Use the Tab button to get around the screen, this way you will not miss anything
  • Top Area of the Owner Screen First
  • Enter in the owners name and contact details - If a company, type that into the Full Name area. (Untick autofill, top right hand side if entering in a company)
  • Sort Code: This should autofill, and is used for the search functions. Normally you would put in the surname but in the case of a Company, you would put in the Company Name
  • Email: (1st Email) this is where you put the primary email address- (2nd Email Address) This would be used if you are wanting to send the statement to another owner or to their accountant- If your going to be using the "2nd email address option" you will need to make sure the "Include Alternate Address" is ticked under the "Statement" section of this screen.
  • Alternative Name and Address: This is used if the Owner has requested a copy of the statement to be sent to someone else

  • NOTE: If you use this you must tick "Include Alternative Address" under the statement area
  • Insurance Details: Enter the Insurance Company etc that the Owner uses
  • Expiry: If the Owner has given notice and you will no longer manage the owner's properties, type that date in here. (See also Owner Reports - Owner Expiry for a list of these)
  • System Bank: This is the company bank account.
  • Statement Area: Select the way they would like to receive their Statement. i.e Email
  • Statement Type: This will show your company default one - Usually you would not change
  • Next No: This is an automatic fill field and will count up each statement that is generated for the Owner. NOTE: The default is statement number 1, and this assumes that a statement will be produced at the end of the current month. You can set it to 0 if no statement will be produced in the current month, so that the first statement next month will be number 1.
  • Copies: Normally set as 1 (You do not need to set it to 2 if you are sending to an alternative address)
  • Statement Message: You can type a note to the Owner here and it will show on their Monthly statement. You must remember to delete it after the month end otherwise it will keep showing month after month. This is a good place to give an owner a reason if the account has been placed on Hold.
  • Subscription Media:Select the way the Owner would like any other information sent out through Mail merge.
  • Primary Agent: This is the main Property Manager for the property. It will default to the person entering in the data, so if this is not you, then click on the drop down box and select the Property Manager.
  • Payment Setup: Select the payment type from the drop down box. Your default will be showing

Note: If you select HOLD, this will put all the Owner money on hold, they will not receive any payment at all. If you do choose to put an owner on hold, put a comment in the Statement message area, this will then show on the Owners Statement as well as the Owner Held Report. The exception is owners with Holiday properties - these owners should ALWAYS be set to Hold. The Holiday procedure pays owners regardless of the Hold status, which prevents these owners from being included in the standard "Generate Owner payments" procedure.

  • Payment Frequency: Select from drop down box
  • Note: If you pay the Owner twice a month, choose Half Monthly as the frequency. The frequency setting allows you to filter groups of owners for generating payments - it does not automatically process payments.
  • Mail Merge Inclusion - This means that this owner will be included if you do a mass mail-out to your Owners
  • Split Payment: If your owner has more than one property paying into one bank account, then by ticking this button, each property will show separately on his Bank Statement
  • GST Exempt: If this Owner is an Overseas Owner (Lives and works overseas) they are exempt by NZ Tax laws from being charged GST on their fees. This will stop Palace from charging it.
  • Do not charge this owner for water: Sometime the Owner is paying their Water Rates invoice by Direct Debit, then they send you the invoice to get the money back from the tenant. This button stops Palace from charging the Owner when entering in the invoice.
  • Prospect: If the owner is not a full management yet, then you can tick Prospect and this will allow you to do a mail-merge out to just the prospects.
  • Custom Button: This allows you to record your own information about the owner. The headings for the Custom fields can be set in File - System Setup using the "Custom Fields - Owner" button.
  • Notes Tab: You can put comments here that will appear on the Hold Report. You can also put in any company information if this Owner is a company or owns a commercial building.
  • Click Save when finished. - If you set the Owner up as a Direct Credit, it will now prompt you to enter in a bank account.

Management Tab: Shows Owner Comments and Company information.

Financial Tab: This shows an actual snapshot of the owners’ financial status within Palace. The highlighted "Amount Owing" shows the actual amount you could pay out the owner today with all expenses taken out.

Note: This does not take into consideration any "Keep backs" set against the property, nor whether the account is set to Hold.

Option Tab: This area shows custom fields plus payment details and frequency for this owner.

 

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