There are two ways of adding a new property.
Highlight the Owner and click on the drop down arrow next to Edit, select Add New Property (Recommended) OR
Click on the Property List (Left hand side menu bar) Click on Add Property, The new Property screen will appear and you select the owner from the drop down box.
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 and Image tabs are covered under setting up for Advertising in the advertising help file
Options: Customized fields, area to add features. Commission details of the Property Manager
Health and Safety Tab: For smoke Alarms and Insulation information
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.
- Suburb: Suburb here is very important as it is used for Advertising so please make sure you select from the list
- Post Code: This field will automatically fill in, by clicking on the field name. (Still to come)
- 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
- Property Phone: Again mainly for Boarding houses or Holiday homes
- 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.) You also have the Split Owner selection if this Property has two separate Owners.
- 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 turn the status box to on.
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. For Maintenance Fees: 8 You can now charge either a set fee or percentage against the Property for a particular creditor. E.g you may only charge the Owner a set fee of $2.00 for Rates. See below for instructions.
- The Inspection Fee This feeds into other areas of Palace
- 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.
- 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: This is where you check in and check out your keys, you can also add new keys here when setting up the property. Just click on Add New
- Access Details: Alarm codes or anything else that people need to know about getting into the property.
This area allows you to set up extra features for the property
Custom Fields: This will show you a list of custom fields that have been set up in your database and you just fill in the information.
NOTE: 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 System and click on Custom Fields. Click on Property Tab and add the fields you want.
Extended Features: Click on Add feature 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.
Health and Safety Tab
This area is to be used to record the information needed by law and displayed on the Tenancy Agreement.
To enter in the different types of smoke alarms, please go to Settings and List Defaults – drop down the arrow, select Smoke Alarms and click add to enter in new ones.
- Click on Add to add in the smoke alarms
- Fill in the information for last checked and who by
- Select if insulated and type in the condition.
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.
A google street map for the location of the property