Properties

Properties > Properties

Properties are the physical buildings we are renting out.  They could be a residential house or a shop or an office complex or a condominium building or a car park etc.

Buildings

A property can be a building or a standard property.  If you have a building with multiple units in it, you can create the building first using the Add Building button.  This option allows you to specify the number of units in the building and their unit numbers, and all the associated standard properties will be automatically created for you.  You can also manually create the various units as standard properties and associate them with the building via the Building combo box.

For a stand alone house, you dont need to create the building itself.  Even with multiple unit properties, creating the building is also optional.

Standard Properties

The short code field is used to enter a short reference which will be easy for you to remember later such as the properties address.  Short codes are often used in popup combo boxes when referring to the properties.

The address is for your information as is the bedrooms and bathrooms and garaging.

The owner is the person or group who owns the building, and is set up separately via the owner screen.

The default bank account is a selection of a bank account set up separately.  By setting a default bank account, the bank account is set automatically during cashbook transaction entry.

The building combo box option.  See Buildings above.

The option to make a property Transaction tax exempt can be used where some properties have tax such as GST applied, and others dont.  So tax would be turned on as the default option, and the properties which dont want tax applied with have the exempt option turned on.

The vacancy status and availability date are calculated automatically based on the end dates of the tenants in the property. However you can manually override these values if you want to leave the property vacant for a while or want to start advertising the property as available soon while it is still occupied.

Notes Tab – Notes are a way of adding additional information to the owner such as emails or reminders.  See also Notes.

Attachments Tab – Attachments are files which are associated with the owner such as photos, scanned documents, PDF files etc.  Any file type can be added.  See also Attachments.

Assets Tab – The assets tab is used to record detail required for depreciation calculations.  Here you enter in the purchase details of the property, the method of depreciation required, and potentially the same details as well.  You also get to enter the additional assets included in the property and depreciated separately (sometimes known as fittings or chattels).  See also Assets.

Tenants Tab – The properties tab is a shortcut way of accessing the property details of the properties owned by this owner.  To specify an owner owns a particular property, you choose the owner on the property details screen.  See also Property Details.

Custom Fields Tab – Custom fields are used to add additional information not provided by the original fields on the owner screen.  For example you might want to add a GST number or a social security number.  Once added, custom fields are available for all owners.  See also Custom Fields.