Why do some of my Owner statements show a Palace Code and others don't?

The Palace code shows on ALL Owner Statements in the subject line but it is character driven, so if you have the property address merge field selected in the Email Templates, then Palace will put the address of the property (Only for those with one Property) in the subject line but the code is still there, it is just become hidden, however if the Owner has more than one property then it cannot put the property in the subject line so the character count is less and hence the code will show. 

This is only for those that choose to have their emails come back into Palace.  The work around is that in the Email Template Statement area, they put something permanent in the subject line that takes more than about 40 characters and the code will hide again.