This tab contains much of the same information found in the Owner Profile.
Statements
Choose the statement style you wish to use for the property. This style statement is only used when the owner on Tab 1 has a "property" type statement selected.
Check Writing
The check writing section contains the parameters for checkwriting.
Distribution Check Override
If the distribution check is going to a bank or person other than the owner(s) identified on the first tab, enter that information in the Distribution Check Override Address. The Distribution Memo will only print on the check if there is information in the Override Address.
Monthly Management Fee Reconciliation
When fees are collected based upon tenant payments for a property and the management agreement contains a minimum and/or a maximum for the property, any adjustments will be based on these parameters.
The total amount of income subject to management fees for the period will be calculated and the percentage applied. If below the minimum, the minimum amount will be used. If above the maximum, the maximum will be used. That amount is then compared to the total of the management fee transactions and the necessary journal transfer adjustment will be posted.
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