There are two ways of adding a new property.
Right click the Owner name in the owner list and select "Add Property" (Recommended) OR
Click on the Property List (Left hand side menu bar) Click on "New" (Top of screen) then select existing Owner from the list.
Palace is property based, so most of the important information is held against the property, there are 6 screens that make up the Property record.
Property: All the main information and commission relevant to this property
Publish: Holds all the information needed to upload various advertising websites i,e Trade Me
Images: Stores all your advertising photos against the property
Options: Customized fields, area to add features. Commission details of the Property Manager
Notes: An area to hold information specific to this property
History: This area shows the status history of this property.
- Enter in the address details. The unit number goes first, then the street number.
- Address 1 is normally the street, Address 2: The suburb
- Post Code: This field will automatically fill in, by clicking on the field name.
- Property Name: Name of building or house (not normally filled in)
- Grid: Used for sorting your inspections into geographical areas e.g North West. This is mainly used for inspections to make sorting the inspections easier
- Status: Click on Active, box will put up. Click on the drop arrow and select the relevant choice. This information is used in the New and Lost Property reports under the Stats Report area.
- Notes: The first time you enter a property, you will need to enter in some of the choices that you want. Click on the ... and then click on Add. For "active" enter words that describe where you got the management from i.e Internet Marketing. For "Inactive" Use words that describe how you lost the property i.e Sold
- Sort Code: This will default to the street address but you can change it to whatever suits you. (Note: the property list displays the Address 1 but sorts by the sort code)
- Bank Accounts: The top drop down box must be used to pick up the bank account entered against the Owner. If the Owner's bank account was entered first, this will automatically fill in (If there is more than one bank account, make sure you have selected the correct one for this property.
- Suburb/Area/District: Select your suburb from the drop down list, especially important if uploading to advertising sites.
- Disbursements Limited: This is the amount that has been agreed with the Owner that you can spend on maintenance without having to run it past the Owner i.e $250.00. Enter the amount here and select the tick box.
Note: If the disbursement check-box is ticked and the limit is set to 0.00, this would indicate the property manager cannot spend any money without checking with the owner first. If the check box is not ticked this would indicate that there is no maximum disbursement and the property manager has discretion about spending money for property maintenance.
- Commission and Fees: The default commission (Set up in Tools - Standard Defaults) will automatically fill in these areas, you can override them. All fees are exclusive of GST
- The Inspection Fee is only for your information - the inspection charge diary entry holds the amount actually charged.
- Keep Back: This allows you to keep some money back from this property to pay any outstanding invoices, you can also use accumulating to save money. Click on here for more information on how to set up this up.
- Dates: Start Date is normally the date that you picked up the management.
- Date Available: If you are entering a new vacant property, select this option and put in a date. This tells the system that the Property is vacant, it will allow it to be uploaded to the web plus show on the available properties report. (if you have the upload facility.) This field is connected to the end date on the tenant screen. When you enter in an end date for a tenant and click save, a pop up box will appear asking if you want to make the property available, when you click yes, the date field will pop up allowing you to select a date.
- Market Value/Yield: If you enter in the approx market value of the property, the system will work out the investment gross yield (which is the percentage that you can expect as a financial return on the property)
- Building Type: This field will be empty at first, to enter your own selection, click on the ..., then click Add, enter your description eg House, then click save, then click Add and enter the next one etc. Drop down the arrow and make a selection
- Building Group: This area gives you the opportunity to add your own groups e.g Chimney. So that any property that has a chimney can be link to this group and you have the ability to then run a report. Click on ... to add groups
- Management Type: Click on the drop down arrow and select from Casual, Management, Commercial or Holiday. (Residential comes under Management) NOTE that tenant arrears are only calculated for tenants in properties with "manage" in the property management type description.
- Group: Some of the Statistic and Financial Reports will allow you to sort the report into groups to allow more in-depth reporting. i.e This is ideal if you are a multi office company, you can enter each of your branches in a group. Then you can run reports on the progress of each office.
- Key Number and Details: Palace has an auto key numbering system, it will start at 0001 and go from there. Or you add your own key codes. There is a report for keys. Add your alarm details into the Key Details area.
- Suburb/Area/District: This is found at the bottom of the screen. Drop down the arrow and select your suburb. This is very important if you use the advertising features and also is used by the Average Rental Reports.
This tab holds the information that uploads to any advertising website, but it also feeds the Property Available Reports and Property Flyers.
Even if you will not be using the Advertising features straight away, we suggest you add this information as you go as it will save you so much time if you do decide to start uploading your advertising.
- Agent: Choose the agent that you want to show on the advertising information.
- Class Code and all the tick boxes are used for the Advertising websites to make sure they put the ad in the right category, so select carefully.
- Rent Details: This is the weekly rent and is used with the advertising, changing it here does not affect the tenant rent rate in any way
- Extended Details: Fill in as much information as you can
- Advertising: If auto fill (Top right hand corner) is ticked, when you enter the advertising blurb into the top fields it will fill the other two fields. If you want the wording to be different in each field, untick Auto Fill. Each box is used to feed to a different section of Palace.
- Suburb link: Click on the ... and select the relevant suburb for this property under each section. Trade Me and REAXML.
Store your photos that you want to use for Advertising here. Even if you do not upload photos to the web, it is good practice to load at least one photo so that new staff know what the property looks like.
These images are used for the Web upload, Flyers and Available Property Reports.
These images link to the image merge fields for you to design your own flyers and window cards
- Click on Import
- Browse to the area that you keep your photos.
- Select your photo or multiple photos and click OK (Palace will auto size the photos for you)
- You will be asked to name the photos. They will go into Alphabetical order.
Note: If you want a particular photo to be the main one, put an A or a number 1 in front of it, so that web sites know it is the main photo.
This area allows you to set up extra features for the property
Custom Fields: You can set up any new fields you want, you can set them as text or select from a list. To set up custom fields - Go to File - System Setup and click on Property Custom Fields.
Extended Features: Click on Add and this will bring up a list of set features, you highlight the one that you want enter in the description e.g Heating - you would put in the type i.e Gas. For more information on this see the Advertising Help File. There is a very good report for Features so can be used for Chimneys etc
Agent Commissions: If you have Ledger/Audit authority level, the name of the agent who manages this property will show here, you can add more agents to this property if you wish. You will also see if the agent has a commission percentage loaded against them.
This information defaults from the Owner Screen but each property does not have to be the same.
Any notes that are relevant to the managing of this property should be entered here i.e notes about appliances etc. This is not the diary area.
This area shows the history the property has had within your company. i.e it was first made active in 2004, then the owner moved back in 2006 and the property was made inactive, then you had it back to manage in 2008 and so on. Very handy for tracking the history of Casual Properties.
Click Save when you have entered all the information into the Property Screen.
- Property List
- Setting Up Alerts
- Keep Backs and Accumulated Keep Backs:
- Property Reports
- Archive and making a property inactive
- Options Available On A Right Click Of A Property
- Property Details Tab - (Double Click)
- Smartview Filter Setting
- Setting A Fixed Charge ( Fixed Management Fee for example)