Management Fees
See Also Help PDF document #220 and Management Fees-Overview
How to PDF document #212 on writing the check to the company for management fees.
This function is used to take management fees on those units whose fee structure calls for a management fee not on tenant payments. It is used when you receive a fee that is not based on tenant payments, i.e. when a unit is vacant or even if the tenant doesn’t pay his rent.
The fees taken here result in a management expense (or a leasing fee expense) posted to the owner/property ledger and a management fee income (or a leasing fee income) posted to the management group ledger. The ledger balance is not considered when the expense is posted. If you do not want to draw the ledger balance below zero when posting these management (leasing) fees, either skip those line items that will draw ledgers below zero or use the Recurring Checks function to take the management fees and use the Prorated Rent function for leasing fees. Using the Recurring Checks as Payables function will allow you to consolidate the fees payments on one check.
To compile a list of management fees that need to be charged to the ledgers, click the Management Fee Not on Tenant Payment radio button, set the Scheduled Through date and click the compile button.
Units with management fees/leasing fees already posted for the month will on the list of candidates that displays but will be skipped. To see only those that are skipped click on the Skipped Fees tab. Any first month leasing fees will also be listed. The fee amounts can be changed or skipped. The function looks at the lease start date to determine when to start taking management fees.
Clicking anywhere on the line item will allow you to edit the management fee and leasing fee amount. It will bring up several lines of information which can be helpful in deciding a course of action.
Several folders at the bottom of the screen allow you to view subsets of the candidates.
All Fees
All the available candidates.
Selected Fees
All those candidates not marked Skip.
No Fees
Those candidates with no rent amount in the Tenant Profile and a fee structure that computes management fees on a percentage of the actual rent.
New Tenant Rent
Those candidates for whom it is a first time rent charge. If the fee structure calls for a leasing fee rather than a management fee in the first month, these will have a leasing fee and no management fee.
Selected New Tenant Rent
Those candidates for whom it is a first time rent charge and are not marked Skip.
Skipped Fees
Those candidates marked Skip.
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