Rent Manager Xi Setup Guide

Rent Manager Xi Setup Guide

Version 3.0.7 Copyright 2007 by London Computer Systems, Inc. All rights reserved. This publication, as well as the software described in it, is furnished under license and may only be used or copied in accordance with the terms of such license. Except as permitted by such license, no part of the contents of this publication may be reproduced or transmitted in any form or by any means without the written permission of the author. The information contained in this publication is furnished for informational use only, is subject to change without notice, and should not be construed as a commitment by London Computer Systems, Inc. London Computer Systems, Inc. assumes no responsibility or liability for any errors or inaccuracies that may appear in this publication. Data used in examples herein is fictitious unless otherwise noted. Any similarity with actual working data is coincidental. Microsoft Windows, Windows XP, and Windows 98 are registered trademarks of Microsoft Corporation. Written and designed at London Computer Systems, Inc. 1007 Cottonwood Dr. Loveland, OH 45140

Table of Contents Table of Contents...i Introduction...1 Product Description...1 About this Guide...1 Intended Audience...1 Related Documentation...2 Documentation Conventions...2 Before You Begin...3 Clearing Sample Database Data...3 Required Information...3 General Concepts...5 Owners and Management Companies...5 Properties and Units...5 Unit Types...8 Recurring Auto Charges...9 General Setup Process...11 Setting up Bank Accounts...12 Add Bank Accounts...12 Add Charge Types...13 Adding Properties...14 Add Property Auto Charges...16 Adding Unit Types...17 Add Unit Type Auto Charges...17 Adding Rental Units...19 Add Unit Auto Charges...20 Add Market Rent...21 Define Unit Availability Exception Status Types...22 Add Status to Rental Unit...23 Adding Customers...24 Enter Miscellaneous Info...26 Add Customer Auto and One-Time Charges...27 Add Other Occupants...29 Verifying the Setup...30 Operational Activities...31 Recording Transactions (Accounts Receivable)...32 Post Auto and One-Time Charges...32 Generate Customer Statements...33 i

Rent Manager Xi Setup Guide Record Payments...34 Run a Rent Roll Summary Report...35 Set Up Late Fees...37 Post Late Fees...37 Run an Aged Receivables Report...38 Make Deposits...39 View the Bank Register...40 Paying Bills (Accounts Payable)...42 Add Bills...42 One Time Bills...42 Auto Bills...43 Search for a Bill...44 Add Vendors...44 Post Auto Bills...45 Pay Bills...45 Write Checks...46 Ordering Checks...46 More Advanced Features...47 Adding Floors and Amenities...47 Pick a Unit...50 Adding Auto CAM Charges...50 Enter GL Beginning Balances...52 Set Up an epay Account...52 Customize the Toolbar...57 Create a Toolbar Button...58 Change a Toolbar Button...59 Add a Dropdown Menu to a Toolbar Button...60 Copy a Toolbar...61 Glossary...63 ii

1 Introduction Product Description Rent Manager is a Residential and Commercial Property Management Software solution designed specifically to help today's Real Estate professionals work more efficiently and effectively. Designed for properties of any size, Rent Manager helps you increase your productivity by organizing your rental information and reducing the number of delinquent accounts. Rent Manager also includes a completely integrated accounting system that offers a General Ledger (GL), Accounts Payable, Accounts Receivable, Budgeting, Contact Management and Financial reports that integrate seamlessly with a powerful property management system. Rent Manager allows you to track multiple companies and integrates the accounting around your property. About this Guide The purpose of this guide is to help you quickly set up Rent Manager correctly the first time and avoid having to back track and redo work unnecessarily. To achieve that goal, it s important that you follow the setup procedure in the suggested order. Although you can modify information as needed, entering data in the right place, and in the suggested order, will improve efficiency and productivity in the long run. It is assumed that Rent Manager has already been installed; therefore, this guide skips the installation instructions and starts by describing the kind of information you will need to supply as you set up your system. After you gather the required information and review a few concepts used in Rent Manager that might be unfamiliar, you ll work through the basic, quick-setup process. The quick-setup process has you enter the minimum information you ll need to get the system up and running. After you complete the basic setup, you can optionally work with several, more advanced features if they re applicable to your business. Intended Audience This Setup guide is written for the person(s) in charge of initially setting up Rent Manager. These setup instructions assume that you have basic computer skills and understand industry-standard concepts such as clicking and dragging the mouse, expanding and reducing windows, selecting options, and choosing menu commands. The person who sets up and configures Rent Manager has Administrator user privileges by default. As other people need access to Rent Manager, the Administrator can create user accounts, enable or disable access to specific features for each user, and apply other control methods using system preferences and user permissions. See Selecting Rent Manager Preferred Options and User Information-Privileges in the online help for more information. 1

Rent Manager Xi Setup Guide Related Documentation In addition to the quick-setup overview provided in this guide, the following product documentation is also included to help you understand how to use all of the product s features. Beginner s Guide provides step-by-step instructions for using all of Rent Manager s features. Online Help provides F1 context-sensitive help for commands, forms, and selectable options (press the F1 key to display on-screen instructions that will help you understand how to accomplish a task or select the right options for your situation). Documentation Conventions The following typographic conventions are used in this document: Items Conventions Example Menu names Commands that you select from menus or buttons that you click Acronyms Cross references Key names, key combinations, and key sequences Placeholders in user input Bold font; title caps Bold font All uppercase Title caps, in quotation marks, blue font Small caps Italic File menu Select Contents from the Help menu. Click OK to accept changes. GL (General Ledger) CAM (Common Area Maintenance) Refer to Clearing Sample Database Data CTRL, TAB CTRL+ALT+DEL SHIFT, F7 ALT,F,O Type password Form names Title caps Property Information form Notes Cautions Tip Important Call attention to information that supplements the main text and that may apply only in special cases Advise user that failure to follow recommendations can cause unexpected results Help users apply a technique to their specific needs or suggest alternative methods that may not be obvious Provide information that is essential to the completion of a task Indicates a note Indicates use caution Indicates a tip Indicates important info 2

2 Before You Begin Clearing Sample Database Data Rent Manager is shipped with sample data for you to browse through. The examples are provided to give you ideas for how to model your own system. Take time to explore the sample data and jot down some notes; you ll have to clear the sample data from the database before you enter your own business data. The samples show how Rent Manager s forms look when they are populated with data. It is recommended that you plan your implementation and resolve some of the decisions you ll need to make as you walk through the quick-setup process. Refer to Required Information for a list of what you will need to know. To clear the sample database data, select Administration from the File menu, and then select Clear Databases. All user-data is deleted, such as user names, account names, information about properties, customers, units, vendors, etc. After the sample data has been removed, you can start entering information about your business. Rent Manager provides a default Administrator account for selecting system preferences and assigning user roles and privileges. Required Information The information listed in the following table is needed when setting up Rent Manager. Having this information handy will eliminate the need to interrupt the setup process to hunt down data. Plus, knowing in advance the kind of information you need to collect and maintain helps you understand the interrelated nature of Rent Manager features. In addition to the pre-defined fields that exist in Rent Manager, you can create your own fields if you want to track other information. Press F1 to display Rent Manager s online help, and then search for user-defined fields for more information about creating fields. 3

Rent Manager Xi Setup Guide Need to Know... Bank info (GL account number, bank name, account number, subaccount of, user access) Charge types for items that will be billed to customers (abbreviated description, description, default amount, if prorated daily, associated chart account, if CAM charge) Property info (name, abbreviated short name, address, phone numbers, email, manager name, property tax ID, rent charge type, default bank, epay account information, terms of late fees, CAM charges, account close date) Unit types (various kinds of units in each property (1 bedroom, garage, fireplace), how many of each type in each property, the auto charge for each type, and CAM charge) Rental unit info (address, unit number, unit type, floor level, sq. footage, max occupancy, status is available, vacant, inactive, amenities, auto charges, market rent) Customer info (name, address, property, unit, rent due day, security deposit, tax type, lease start and end dates, move in and out dates, default late fee override info., social security number, employer, email, birthday, age, phone numbers, car type and license number, auto charges, CAM charges, credit card information, billing address, ACH routing information) Vendors (name, address, tax ID, phone numbers, email, properties associated, 1099 balance for each property, account number, billing terms, default bank account) When to record business transactions (when purchased, when received, when billed, when paid) Start date of general ledger and which GL accounts to use for: Accounts Receivable, Undeposited Funds, Accounts Payable, Cash Prepays, Net Income, Retained Earnings, Unlinked Charge Types Beginning GL balances for chart accounts Accounting close date Other refundable deposits besides Security deposit, such as pets, cleaning, last month rent, etc. Taxes should be set aside into a liability account or an expense account 4

3 General Concepts Before you start setting up your company records, take a few minutes and read the descriptions in this section. Some of Rent Manager s concepts and terminology might be a little different than what you re used to, so please become familiar with how these terms are used in Rent Manager. Owners and Management Companies If you own rental properties, you can elect to manage the day-to-day operations of your business yourself and use Rent Manager as a tool to increase efficiency, accuracy, and productivity. Conversely, a property management company can use Rent Manager to manage others properties for a fee. If you own all of the properties that you manage, you can ignore the Owners feature that is used by fee-based property management companies to monitor contract dates, management fees, bank balance reserve amount, etc. Property-generated income (security deposits, rent charges, late fees, etc.) belongs to the owners. Owners who use the services of a property management company incur management fee expenses. Management fees are automatically calculated based on selected options and system preferences enabled in Rent Manager. Properties and Units In Rent Manager, the word property has a unique meaning; one way of thinking about a property is like a company. Rent Manager uses a property as a mechanism for grouping rental units based on how you want to track income and expenses and generate reports. A property is an entity that conducts financial business transactions with customers providing goods or services, collecting income, and paying bills. In Rent Manager, property is not restricted to a piece of real estate, although it can include one. Management companies are always considered properties because they earn income and have expenses. Property Customers 5

Rent Manager Xi Setup Guide Manufactured Home Community A Manufactured Home Community (MHC) is a property because lots (units) are rented to produce income, and the community incurs expenses for maintenance and upkeep. Property Units An apartment complex is a property that contains rental units that earn rental income and have associated expenses. Property Units Sometimes an owner is considered a property; for example, an owner with multiple single-family homes may be considered a property reports generated for the property will show all the homes for the owner. Property Units When entering information for a single-family home, people often think of a single-family home as a property in the same way they consider an apartment complex a property. For single-family homes, the home is defined as the rental unit (although you can set up the home as both the property and the unit). In the case of a single-family dwelling, some management companies prefer to add the name and address of the owner or business in the Property information. Then, after entering the property information, they add the information for the single-family home as a Rental Unit. 6

3 General Concepts The term rental unit in Rent Manager is fairly straight-forward. A rental unit is an entity that is rented to a customer. In a manufactured home community, each lot is a rental unit. In an apartment complex, each individual apartment is a rental unit. In a storage facility, each storage area is a rental unit. In an office complex, each office is a rental unit. For single-family homes, each home is a rental unit. For general guidelines about how to set up your business, refer to Structuring Your Property Management Business in the online help. Rent Manager provides flexibility so that you can set up your property groupings in ways that support your specific business structure and provide the kind of output you need. Therefore, there is no one, correct way to set up properties; it really depends on a variety of factors. As you prepare to add properties, consider the following tips that will help you to decide which way works best for you. Defining an individual entity (company, building, site, etc.) as a property has the advantage of being able to generate more detailed data about that specific entity, but it can require more time and effort to maintain the books and pay bills than if you group multiple entities together as one property. Compare an individual entity s financial status against another entity and evaluate its profitability. If you sell the property, you can provide a complete set of financial data for that entity. Grouping multiple entities as a property helps to streamline the bookkeeping tasks by requiring fewer transactions, and you can write checks for the property instead of for every entity in the group. However, reports generated for a property group show the group s overall status, not details about each entity. Rent Manager s reporting features provide the flexibility to run reports in various ways, such as for: an individual property multiple, individually-selected properties a report group a set of properties assigned to a group a profit & loss statement for any rental unit When running reports for multiple properties at the same time, Rent Manager combines the data for each property in a single report. By creating report groups, you can compare one group to another and analyze the results! 7

Rent Manager Xi Setup Guide Refer to the following table for several example scenarios for setting up properties: Example Property Scenarios For Buildings & Units Rent Manager Properties Large Apartment Complex 20, 10-unit buildings One property with 200 units Miscellaneous Buildings 5, 10-unit buildings Five properties with 10 units each Duplexes 5, 2-unit buildings One property with 10 units -or- Five properties with 2 units each Single-family Homes 5 residential, single-unit buildings One property with 5 units -or- Five properties with 1 unit each Manufactured Homes 2, 50-lot communities Two properties with 50 units/lots each Property Management. Company 0 One property with 0 (zero) units Unit Types The term unit type refers to the different types of rentals you manage. Taking the time to identify each unique type will increase efficiency and let you provide more details in reports. For example, you might want to track information related to: single-wide lots in a manufactured home community, one and two bedroom apartments, single-family homes, duplexes, etc. For each type, you can specify an automatic, recurring charge, and every customer with this type of unit will automatically inherit the charge. Set unit type auto charges if most units are charged the same amount. For more information, refer to Recurring Auto Charges. Rent Manager uses unit types in the following ways: Set default rent amounts (auto charges) for all rentals of the same type, and bill all customers with that type of unit. Simultaneously change rent charges for all customers of the same type of unit. Search for available units of a particular type. Track demographic information. 8

3 General Concepts Recurring Auto Charges Recurring auto charges are dollar amounts that Rent Manager automatically applies to customers on a regular, recurring basis (every month is the default) when you post recurring charges. The terms recurring charges and auto charges are used interchangeably; this guide uses auto charges. Auto charge is a powerful, time-saving feature. You can apply auto charges collectively by setting them at a high level, such as for the entire property or a type of unit. Customers inherit auto charges that are set at a higher level, such as for the property or unit type. You can also apply auto charges individually by setting them at a lower level, such as for a specific rental unit or an individual customer. The inheritance hierarchy is illustrated in the following diagram. Auto charges set for the property are shared equally by all customers of the property. Property Auto Charges Unit Type Auto Charges Auto charges set for a unit type are billed to all customers who rent this type of unit. Rental Unit Auto Charges Inherits existing property and/or unit type auto charges. Add charges here to bill any customer who rents the unit. Customer Auto Charges Inherits existing property and/or rental unit auto charges. Add charges here to bill only the specified customer. Property-based auto charges add fees to all customers of the property. Therefore, if you establish an auto charge at the property level (e.g. trash disposal), the charge is applied to all customers of the property. Unit-type auto charges add fees to all customers with that type of unit. Rental unit auto charges add fees to all customers of the specified unit. Customer-based auto charges add fees, such as pet fees, to only the specified customer. You can specify the timeframe in which to apply auto charges. Carefully consider where to set auto charges. Add auto charges for a property only if you want to charge every (or most) customer(s) the same amount on a recurring basis. You can, however, manually exclude an inherited auto charge for any customer. 9

4 General Setup Process After clearing the sample database as described in Clearing Sample Database Data, you re ready to begin the general setup process which involves the following tasks: 1 1 Setting up bank accounts 1 2 Adding properties 1 3 Adding unit types 1 4 Adding rental units 1 5 Adding customers 1 6 Verifying the setup After entering the setup information required in these tasks, you can move on to the basic operational tasks in Chapter 5. 11

Rent Manager Xi Setup Guide 1 1 Setting up Bank Accounts The first step in entering the basic information needed to quickly set up Rent Manager with your business information is to add your bank account information. You ll also add charge types as necessary. Add Bank Accounts Adding bank account information lets you manage your bank accounts, reconcile transactions, write checks, pay bills, and make deposits. As you enter account information (bank name and account number), it s linked to the General Ledger (GL). To add bank accounts: 1. Select Setup from the File menu, and then select Add Bank Accounts. Rent Manager assigns a GL account number, but you can change it if you d like. 2. For Name, enter your bank s name. 3. For Account Number, enter the account number. 4. To add multiple bank accounts, enable (check) the Continuous Add option to leave the form open after you add an account. 5. Click Add to add the account. 12

4 General Setup Process Add Charge Types You need to have a charge type for each service and product for which you ll bill customers; for example, Rent Charge, Late Fee, Storage, etc. Each charge type requires a description and an associated GL account. You can optionally provide a charge type default amount if most customers will be charged the same amount; the charge type amount can be changed for individual customers. If you have a list of all of the types of charges that are used in your business transactions, you can add all charge types at the same time. You can also add charge types as a need arises. To add charge types: 1. Select Setup from the File menu, and then select Add Charge Types. 2. For Charge Type, enter a report reference abbreviation, such as LC (Late Charge). 3. For Description, enter the name of the charge, such as Late Charge. 4. For Default Amount, enter an amount if the majority of customers pay the same amount (this can be modified for individual customers). 5. For This is a CAM charge type, enable the option if the charge is associated with Common Area Maintenance charges. 6. For Prorate By Day? enable the option if the charge can be prorated daily. When you post auto charges, if a customer is moving out, the charge amount is prorated from the first of the month to the move out date (requires the system preference set to prorate posted charges). You can prorate a one-time charge as described in Add Customer Auto and One-Time Charges. 7. For Chart Account, select the GL account to link to the charge type. (e.g.: Security deposit is a Liability account, Security deposit forfeits is an Income account, and Security deposit refunds are un-deposited funds.) 8. To add multiple charge types, enable (check) the Continuous Add option to leave the form open after you add a charge type. 9. Click Add to add the charge type. 13

Rent Manager Xi Setup Guide 2 1 Adding Properties Refer to Properties and Units for a description of the relationship between properties and units as applied to Rent Manager. Before you add properties, remember that each property is a separate business entity that has a collection of rental units, its own set of customers and associated income and expenses. If you own and/or manage: Single-family homes, enter your business name as the property, and then enter each home as a rental unit. Multi-family residential rentals, such as apartments or multiplexes, enter the building complex or community as the property, and then enter each dwelling as the rental unit. If you track maintenance issues, delinquency lists, or financial statements per building, then enter each building as a property. Manufactured Home Communities, enter the community name as the property, and then enter each lot as the rental unit. To add properties: 1. Select Setup from the File menu, and then select Add Properties. 2. Enter the Property Name and Short Name (abbreviated for report columns). 3. Optionally change the Rent Charge Type as appropriate (e.g.: condo fee). 4. Provide additional information as desired. 14

4 General Setup Process 5. Enable the Continuous Add option to enter multiple properties at the same time without having to reopen the form. 6. Click Next. 7. Enter an address and the name of the person to whom payments should be sent. If payments should be sent to the property address, click Use Property to auto-fill in the payment address form. 8. Click Next. 9. Optionally, enter default values for any previously-defined fields, and then click Next. (Search the online help for user-defined fields for more information.) 15

Rent Manager Xi Setup Guide 10. Select the types of units that are valid for this property, and then click Finish. 11. Repeat this procedure for each property you want to add. Add Property Auto Charges Adding auto charges for a property is optional; however, you can set up a charge that will be automatically billed to all customers of the property on a recurring basis by specifying the terms in the Property Information form. Refer to Recurring Auto Charges for an explanation about how auto charges are processed in Rent Manager. Auto charges are typically set at the rental unit level (as described in Add Unit Auto Charges ) instead of for the entire property. To add auto charges: 1. Select Properties from the Rental Info menu. Then select the Property on the left side of the Property Information form. 2. Select the Auto Charges tab, and then click Add. 3. Select the Charge Type, and enter the default Amount to charge. 4. Select the period of time to apply the charge (From/To). Enable the From check box, and select the date to start applying the auto charge. For a temporary charge, enable the To check box, and select the date to stop applying the auto charge. Leaving the To check box blank (disabled) will apply the charge until you stop it by specifying a To end date or until the customer s Move Out date (Customer form-general tab). 5. To apply the charge other than once a month, enter a number in the Frequency box (Frequency is the number of cycles between postings; the default is 1). For example, to charge every other month, enter 2 in the Frequency box. 6. To use a calculation for the auto charge, see the tip below. 7. Click Save to add the auto charge to the property. You can create an auto charge that is based on a calculation. To charge 7% tax on Rent, use : autos("rc")*.07 To charge 7% tax on all charges, use: autos()*.07 Calculation... Means... autos("rc")*.07 Rent Charge times.07 16

4 General Setup Process 3 1 Adding Unit Types Refer to Unit Types for a description of unit types and their application in Rent Manager. To add unit types: 1. Select Setup from the File menu, and then select Add Unit Types. 2. For Unit Type, enter a short name (abbreviated for report columns). 3. For Description, describe the type of unit. 4. For Rent Amount, enter the amount for this type of unit. Customers with this type of unit will be billed this amount by default; however, you can later exclude the unit type auto charge for any customer by disabling (unchecking) the option on the Customer auto charges form. 5. Click on the Properties that offer this type of unit. 6. Enable Continuous Add to enter multiple unit types at the same time without having to reopen the form. 7. Click Add to add the unit type. 8. Repeat this process for each type of unit you want to define. Add Unit Type Auto Charges Adding auto charges for a unit type is optional. A unit type auto charge is the default amount that is automatically charged for this type of unit. You can later exclude the auto charge for any customer. Auto charges are typically set at the rental unit level (as described in Add Unit Auto Charges ) or customer level instead of for all units of a particular type. To add an auto charge to a type of unit: 1. Select Unit Types from the Rental Info menu, and then click on the Auto Charges tab. 2. At the left side of the form, select the type of unit for which to add an auto charge. If any auto charges are currently set for this type of unit, they will be listed in the top portion of the form. To exclude a charge, disable (uncheck) the charge. 17

Rent Manager Xi Setup Guide 3. Click Add. 4. Select the Charge Type, and enter the default Amount to charge. 5. Select the period of time to apply the charge (From/To). Enable the From check box, and select the date to start applying the auto charge. For a temporary charge, enable the To check box, and select the date to stop applying the auto charge. Leaving the To check box blank (disabled) will apply the charge until you stop it by specifying a To end date or until the customer s Move Out date (Customer form-general tab). 6. To apply the charge other than once a month, enter a number in the Frequency box (Frequency is the number of cycles between postings; the default is 1). For example, to charge every other month, enter 2 in the Frequency box. 7. Click Save to add the auto charge to the unit type. For information about calculating an auto charge, refer to Add Property Auto Charges. 18

4 General Setup Process 4 1 Adding Rental Units As described previously in Properties and Units a rental unit is the physical space that s rented by a customer (apartment, lot, suite, single-family home, etc.). Each rental unit requires a unique identifier, or unit number, and the unit number can be used only once for a specific property. The unit number is used for report columns. To add rental units: 1. Select Setup from the File menu, and then select Add Rental Units. 2. Enable Continuous Add to enter multiple units without having to reopen the form. 3. Select A single unit, and then click Next. If a group of units has the same property, street address, unit type, and are in order, you can add them as a batch to save time. This feature is not for adding single-family homes, but it s an extremely efficient way to add a lot of units at once, such as every unit in a building or on the same street! 4. Select the Property and Unit Type from the lists. 5. Enter a unique Unit Name (e.g.: 16 B). 6. Select the Floor as applicable. 7. Fill out the address, or click Insert Property Address to auto-fill the form with the property address. 19

Rent Manager Xi Setup Guide 8. Click Next, and select available amenities. 9. Click Next, and optionally enter values for any previously-defined fields. 10. Add auto charges as described in Add Unit Auto Charges. Add Unit Auto Charges Part of the process of adding rental units, is establishing which, if any, auto charges to automatically apply to a unit on a recurring basis (e.g.: Rent Charge, Condo Fees, etc.). Setting auto charges is optional. For more information, refer to Recurring Auto Charges. During the process of adding a unit, the following form is displayed: The top portion of this form shows this unit s inherited auto charges (those set for the chosen property or unit type). To exclude an inherited charge, disable (uncheck) the charge in the top portion of the screen. A unit s auto charge is the default amount that is automatically charged for a specific rental unit. You can later exclude the rental unit auto charge for any customer by disabling (unchecking) the option in the Customer Auto Charge form (refer to Add Customer Auto and One-Time Charges ). To add an auto charge, click Add. 1. Select the Charge Type, and enter the default Amount to charge. 20

4 General Setup Process 2. Select the period of time to apply the charge (From/To). Enable the From check box, and select the date to start applying the auto charge. For a temporary charge, enable the To check box, and select the date to stop applying the auto charge. Leaving the To check box blank (disabled) will apply the charge until you stop it by specifying a To end date or until the customer s Move Out date (Customer form-general tab). 3. To apply the charge other than once a month, enter a number in the Frequency box (Frequency is the number of cycles between postings; the default is 1). For example, to charge every other month, enter 2 in the Frequency box. 4. Click Save to add the auto charge to the unit. 5. Click Next to add more rental unit information. 6. Select the active dates. 7. Optionally enter the number of square feet and maximum number of occupants. 8. Provide additional comments as desired. For information about calculating an auto charge, refer to Add Property Auto Charges. Add Market Rent Entering the market rent for a unit lets you track vacancy loss how much money you lose when the unit is vacant. To add the market rent for a unit: 1. Select Rental Units from the Rental Info menu. 2. Click on the Market Rent tab. 3. Click Add. 21

Rent Manager Xi Setup Guide 4. Enable the From check box and select a date. 5. Enter an Amount and an optional Comment. 6. Click Save. 7. To view or modify market rent information, click Details and make changes as appropriate. Define Unit Availability Exception Status Types You can create unit status types which are exceptions to the standard status of occupied or vacant. Status types further define the availability of a rental unit one might be vacant but still unavailable such as during a make ready period. Brand new, unrented units or units for which a move out date or lease end date has been set are suitable for adding an availability status. To define a unit status type, select Rental Units from the Rental Info menu. 1. From the Rental Unit form, click Status Types. The following form lists the Availability Exception status types. 2. Click New to define a new status. 3. Enter a status Description and a Short Name (abbreviated). 4. Set Available to Yes or No. 5. Set Vacant to Yes or No. 6. Click Add to add the status type to the list of availability choices. 22

4 General Setup Process Add Status to Rental Unit A rental unit for which a move out date or lease end date has been set can have an availability exception status added to it. 1. In the Rental Unit form, select the General tab, and then select the unit on the left side of the form. 2. Click Add Unit Status. 3. Select a Unit Status from the list of defined exception status types (refer to Define Unit Availability Exception Status Types ). 4. Select the Start Date to begin assignment of the exception status. To maintain the status for an indefinite amount of time, leave the End Date disabled (unchecked); otherwise, select an end date on which the status will expire. 5. Enter an optional Comment about the unit s status, and then click Add Status. The new status information is displayed at the bottom of the Rental Unit form. Doubleclick to edit the status. 23

Rent Manager Xi Setup Guide 5 1 Adding Customers The next step after adding rental units is to add customers (people who occupy or lease rental units) who are responsible for paying rent and other associated charges. The only information that s required to initially set up each customer is the last name or business name. The rest of the information can be updated at any time. To add customers: 1. Select Setup from the File menu, and then select Add Customers. 2. Select the primary account holder as a Person or a Business. 3. To add multiple customers, enable (check) the Continuous Add option to leave the form open after you add each customer. 4. Either enter the customer s Name (first and last for a person), or click Copy Existing to duplicate another customer s information. Copy Existing displays the Customer Search Criteria form for you to select a property and search for a customer by name or customers who were current during a specified date range. 5. Enter additional customer information as desired, or click Next to enter the customer s address and move in date. 24

4 General Setup Process 6. Select the Property the customer is interested in. 7. Select the Move In date from the calendar control (the date the customer plans to move in which flags the customer as past, current, or future). For future, prospective customers, select a Move In date that corresponds with their rental plans (i.e.: in two months, three months, etc.) so that you can see which units will be available then. Only select a Move Out date if you re sure the customer will be moving out. Auto charges stop being applied on a customer s move out date, and unit searches will show the unit as available. 8. Click to display a list of units that are available as of the Move In date. Select Show Vacant Units Only. Double-click on a vacant unit to assign it to the customer. 9. In the Customer Account Information form, click Use Unit Address to automatically fill in the primary address, and then click Next. 10. Optionally enter default values for any previously-defined fields, and then click Next to enter additional customer information as described in Enter Miscellaneous Info. 25

Rent Manager Xi Setup Guide Enter Miscellaneous Info Part of the process of adding customers, is establishing the terms of the lease, recording security deposits, etc. During the process of adding a customer, the following form is displayed: 1. If the customer has a lease, select the Start and End dates, and choose a Rent Due Day. 2. If the customer owes you money at the time that you add the customer to Rent Manager, either enter the full amount in the Beginning Balance field, or itemize the charges in the next screen. If the customer has a credit, put a minus sign before the dollar amount. 3. For the Deposit Amount, enter the amount of the customer s security deposit. If this is a previously-established customer who has already paid the security deposit, enable the Deposit received prior to using Rent Manager option to avoid charging the customer s account again. 4. To color-code the customer s name, select a color from the Display box. 5. If the customer will be invoiced for taxable items, select the appropriate Tax Type. 6. Enter a comment about the customer, and enable other options as applicable. 7. If the customer is charged rent every week, enable the Weekly Rental Customer option, and then set auto charges as described in Add Customer Auto and One-Time Charges. 8. Click Next to add automatic and one-time charges. 26

4 General Setup Process Add Customer Auto and One-Time Charges After adding a customer, the lease terms, and the security deposit amount, you can optionally add automatic and one-time charges. At the top of the Customer charges window are listed any charges that are inherited (flowed down) from auto charges previously set for the entire property, the specific type of unit, or the actual unit the customer is renting. 1. To exclude an inherited auto charge for this customer, disable (uncheck) the charge in the top portion of the form. 2. To optionally add a customer-specific auto charge, click Add in the top half of the form. 3. Select the Charge Type, and enter the Amount. If a customer is charged weekly, select Rent Charge as the Charge Type and enter the weekly rate as the Amount. 27

Rent Manager Xi Setup Guide 4. Select the period of time to apply the charge (From/To). Enable the From check box, and select the date to start applying the auto charge. For a temporary charge, enable the To check box, and select the date to stop applying the auto charge. Leaving the To check box blank (disabled) will apply the charge until you stop it by specifying a To end date or until the customer s Move Out date (Customer form-general tab). 5. To apply the charge other than once a month, enter a number in the Frequency box (Frequency is the number of cycles between postings; the default is 1). For a customer who s billed every two months, enter 2 for the frequency. 6. To use a calculation for the auto charge, see the tip below. 7. Click Save to add the auto charge to the customer. You can create an auto charge that is based on a calculation. To charge 7% tax on Rent, use : autos("rc")*.07 To charge 7% tax on all charges, use: autos()*.07 Calculation... Means... autos("rc")*.07 Rent Charge times.07 At the bottom of the Customer charges window are listed any charges that are currently applied to the Customer s account, such as a security deposit charge or a beginning balance. Add a one-time charge To add a one-time charge, for example to prorate a rent charge for a customer who begins renting at some point other than the first of the month, or to apply a late charge, use the following procedure: 1. Click Add in the bottom half of the form. 2. Select the Charge Type of the one-time transaction, and verify the Date the charge is due (default is the current date). 3. Enter the Amount to bill the customer. You can prorate a one-time charge by clicking PR, or you can configure the charge type to be prorated by default by directly changing the Charge Type information as described in Add Charge Types. 28

4 General Setup Process 4. Enter a Comment and Reference number as desired, and then click Save to return to the Customer charges window. 5. Click Finish to complete the customer data entry. To add more customers, repeat all of the tasks in Procedure 5 Adding Customers. Add Other Occupants When you add customers to Rent Manager, you enter information about the primary account holder. Customers often have a roommate, a spouse, children or other people who occupy the unit. After you ve added the primary customer information, you can add information about other occupants. To add other occupants: 1. Select Customers from the Rental Info menu. The Customer form is displayed as illustrated in Adding Customers. 2. Select the People tab and click New. 3. Enter the person s First and Last name. 4. To add multiple people, enable (check) the Continuous Add option to leave the form open after you add a person. 5. Click Add. The person is added to the list on the People tab. 6. Fill in as much information about the new person as desired. 29

Rent Manager Xi Setup Guide 6 1 Verifying the Setup Now that you ve set up bank accounts and added properties, units and customers, check to see that your information is correct by running a Rent Roll report. The Rent Roll report displays a list of current customers and the auto charges that are being posted on a monthly or weekly basis. To run a Rent Roll report and verify your setup: 1. Select Rental Information from the Reports menu. Then select Rent Roll from the Rent Roll submenu. 2. Select the Properties on the left side of the form. 3. Select the report Date and Posting Period. 4. Optionally, select a sort option from the Sort By list. 5. As desired, rearrange the order in which charges are presented. Select a Charge Type Order Preference item, and then use the arrow keys to reposition the item in the list. 6. To run a batch report for multiple properties at the same time, enable the Run properties separately option. 7. Click Create Report. A report will be created for the properties you selected. Look over the report, and verify that you ve entered information correctly and completely. Make changes as necessary, and run the Rent Roll report again; or, if the information is correct, proceed to Chapter 5 and begin recording transactions. 30

5 Operational Activities After completing the general setup process in Chapter 4, you re ready to work through a few easy operational activities as listed below: 1 1 Recording transactions 2 1 Paying bills Recording transactions involves accounts receivable tasks, such as: Posting auto charges Recording payments Adding and posting late fees Making deposits Viewing the bank register Rent Manager has a variety of pre-designed reports covering everything from basic delinquencies, to rent rolls, to detailed income statements. Running a report after posting charges, recording payments, or posting late fees, shows which customers owe money. When you run reports, you can combine one or more properties in the same report, or you can optionally run a separate report for each property. Paying bills involves accounts payable tasks, such as: Adding vendor bills Posting bills Paying bills Writing checks 31

Rent Manager Xi Setup Guide 1 1 Recording Transactions (Accounts Receivable) Post Auto and One-Time Charges Before posting charges, run a Rent Roll report and double-check the customer charges as described in Verifying the Setup. When you post charges, you apply whatever auto charges (monthly or weekly) have been set for each customer s account. In addition, any one-time charges that have been added for the current posting period will also be applied. To post auto and one-time charges: 1. Select Batch Operations from the Activities menu. Then select Post Recurring Charges. 2. Select the Posting Type: monthly or weekly (default is monthly). Choosing the weekly option displays only properties with weekly customers. 3. Select the Properties for which to post auto charges, and then select the Post date. 32

5 Operational Activities If you add customers in the middle of a month and want to backdate transactions to the first of the month, make the Move In date prior to the first of the month (refer to Adding Customers ). 4. Select other options as appropriate, and optionally enter a transaction memo. 5. Click Post Charges to begin adding auto charges for each customer. To undo a posting, use the Posting Rollback feature which is accessed by selecting Administration from the File menu. Generate Customer Statements After posting charges you can generate customer statements if you d like. Customer statements can be sent at any time. The statement itemizes the transactions that have occurred during the billing period. The statement includes customer information (property, unit, account number) and financial summary information (previous balance, current charges, current credits, balance due, and date of last payment). An itemized description of each transaction, including date and dollar amount, is also provided. To generate Customer statements, select Customer Statements from the Reports menu, and then select Generate Statements. 1. Select the Customers for which you want to generate statements. 2. Select the Date Range. 3. Optionally, select a sort option from the Sort By list. 33

Rent Manager Xi Setup Guide 4. To create separate customer statements when running a batch, enable the Run customers separately option. 5. To show currently unposted late fees, enable the Show Unposted Per Day Late Fees to Date. 6. Click Create Report. Rent Manager provides several formats that you can choose for customer statements. To select a different style and size for statements, select Customer Statements from the Reports menu, and then choose Select Statement Format. Record Payments After monthly charges have been posted to customers accounts, you can record payments as they are received. If you want to specify a preferred order in which to pay off charges, for example how to apply a partial payment, you can adjust the payment allocation order. By default, Rent Manager applies a payment to the oldest charge first; however, you can override the default. Refer to the online help for specific instructions about adjusting the allocation order. To record a customer payment: 1. Select Accounts Receivable from the Activities menu, and then select Receive Payments. The Customer Information form is displayed. 2. Select the Customer on the left side of the form. The customer s open receivables are displayed at the right. 3. Enter the Ref # (check number), or select a payment type from the menu (i.e. cash, money order). You can also select the epay Payment option and use the credit card account that s on file or specify a different credit card. Refer to Set Up an epay Account for more information. 4. Optionally, enter a Transaction Memo (i.e. money order number). 5. Enter the payment Amount. 6. Select the current payment Date, or enter a different date (i.e. to back date or prepay). 7. Enable (check) the Pay? check box for each charge to which the payment should be allocated, or disable (uncheck) the Pay? check box for any charge that you do not want to pay. 34

5 Operational Activities If a payment is not completely allocated, an Unapplied Credit button will be displayed so that you can apply the credit. For payments that exceed outstanding charges, you can allocate prepaid funds by double-clicking in the amount field and entering the amount to pay toward each charge type. Double-click and type in the amount to allocate toward this charge. Run a Rent Roll Summary Report After payments have been recorded, run a Rent Roll Summary report to see which customers have an outstanding balance. The Rent Roll Summary report displays the auto charges that were posted for the selected property and lists the current customer of every rental unit including vacant rental units. It also includes the security deposits being held as of the first day in the date range. Additional information includes: rental unit number square feet of the rental unit (CAM only) security deposit being held as of the first day in the date range (Security deposits received after the first day in the date range are not displayed) rent charges assigned to the property, unit, or type (not including customer rent charges) amount of lost rent due to vacancy amount of rent charged to the customer account sum of all charges that have been posted to the customer s account credits posted to the customer s account customer s balance prior to the current date range amount paid by the customer during the date range credit balances or debit balances 35

Rent Manager Xi Setup Guide To run a Rent Roll Summary: 1. Select Accounts Receivable from the Reports menu, and then select Summary Rent Roll. 2. Select the Properties to include in the report. 3. Select the Report Method to use when generating the report. 4. Select the Date Range. 5. Select the Security Deposit Date. 6. Click Create Report. 36

5 Operational Activities Set Up Late Fees You can set up late fees for a property. Late fees can be established as a specified daily rate, a fixed charge, and as a percentage of the amount owed. To set up property late fees: 1. Select Properties from the Rental Info menu. 2. Select the Property on the left side of the Property form, and then click on the Late Fees tab. 3. Select the Enable Special Late charge check box. Fixed and Percent charges are applied when you post late fees. Rent Manager automatically applies the default Per Day late charges. 4. Select default Per Day options to automatically calculate late fees on a daily basis. Select Grace period if you want to specify a number of days after the due date to wait before assessing late charges; after the grace period has elapsed, late fees will begin calculating from the date the rent was due. To begin calculating per-day late fees from the end of the grace period, instead of from the original due date, select Non Retroactive. 5. Optionally choose other type(s) of late fees. Fixed sets a flat fee and can be applied to any late payment or restricted to only rent charges. Percent calculates a late charge that s based on a percentage of the total amount owed or a percentage of unpaid rent. 6. Click Save at the bottom of the Late Fees tab. Post Late Fees When late charges have been enabled and set up for a property, as described in Set Up Late Fees, before flat fees and percentage-based fees are actually applied for the billing period they must be posted. Daily late fees accumulate automatically. Posting flat fees and percentage-based fees provides the ability to confirm who will be charged. To post late fees: 1. Select Batch Operations from the Activities menu, and then select Post Late Fees. 37

Rent Manager Xi Setup Guide Double-click to change an amount. 2. Select the Properties. 3. Select the Delinquency criteria to apply, then click Show Delinquent Customers. Customers who match the criteria are listed. 4. Select the Fee Type (i.e. Late Charge). 5. Optionally, Override Late Fee Defaults, and specify a new percent or amount. 6. To note in the customer s History file that a late fee was charged, enable Add history item for each charge. 7. To initiate the post, click Post Selected Late Fees. Run an Aged Receivables Report To see which customers have balances more than 30 days old, run the Aged Receivables report. This report groups the age of the balance into 30 days old, 31-60 days old, 61-90 days old and 91+ days old. The Aged Receivables report can be run in Summary mode or Detail mode. Summary: Displays each customer with aging receivables and the balances during each date range. Detail: Displays each customer as well as the individual charges that are aging for each period. 38

5 Operational Activities To run an Aged Receivables report: 1. Select Accounts Receivable from the Reports menu, and then select Aged Receivables. 2. Select the Properties to include in the report. 3. Select the Date Range. 4. Select Detail or Summary mode. 5. Select the Customers to Include. 6. Optionally, select a sort option from the Sort By list. 7. To run a batch report for multiple properties at the same time, enable the Run properties separately option. 8. Click Create Report. Make Deposits After recording customer payments, take the funds to the bank. Making deposits with Rent Manager records deposits in your bank register so that you can balance your bank register against the bank s statement. To record a deposit in Rent Manager: 1. Select Bank from the Activities menu, and then select Make Deposits. 39

Rent Manager Xi Setup Guide 2. Select the Properties. 3. Select the Customers. 4. Add non-customer related income to your deposit (i.e.: vending machine, coin laundry, etc.). 5. Select the Bank Account. 6. Verify or change the Deposit Date. 7. Click Make Deposit. From the Report Option dialog, select the type of deposit ticket you want to create. View the Bank Register The Bank Register lists deposits and checks that have been written from the selected bank account. Double clicking an item in the register will display details about the item. The Bank Register also offers a reconciliation feature that lets you closely track your bank balance to verify it matches the actual bank statement. 40

5 Operational Activities To view the bank register: 1. Select Bank from the Activities menu, and then select Bank Registers. The register displays the date of each transaction, the reference number, a deposit number or check number, and comments about the transaction. It also shows if an item has cleared, the deposit amount, payment amount and balance. 2. To delete a deposit, click Delete Bank Deposit. This only clears the recorded deposit; it does not remove the payment. You can re-enter a deleted deposit as described in Make Deposits. 3. To reconcile the bank register, click Reconcile. 4. Select the Account to reconcile against the bank statement. 5. Enter the bank statement s Ending Balance and Reconcile Date. 6. Click Reconcile to display the Account Reconciliation form where you can select which payments and deposits have cleared the bank. If the numbers on your bank statement don t match the balance on the bank register, you can print a report that will itemize deposits and checks and summarize the difference between your bank register balance and the balance listed on the statement you received from the bank. 41

Rent Manager Xi Setup Guide 2 Paying Bills (Accounts Payable) The Rent Manager Bill Center provides a convenient way to manage invoices and pay bills. Accounts payable tasks include: adding bills to the Bill Center, adding vendors, posting bills to accounts, and then paying bills. Add Bills You can add bills as a one-time bill or an automatic bill. To add a bill, select Accounts Payable from the Activities menu, and then select Bill Center. One Time Bills One-time bills are not paid on a recurring basis. Hiring a plumber to fix a leak is a situation for which you would create a one-time bill. 1. In the One Time Bills tab, click Add Bill. 42

5 Operational Activities 2. Select a Vendor from the list, or enter the name of a new vendor. If the vendor has not previously been added, a confirmation message is displayed, and you can add the vendor to Rent Manager as described in Add Vendors. 3. Select the Bill Date, Due Date, and Terms from the lists. Then enter the Amount of the bill and a memo if desired. 4. In the allocation section, select the Property (and unit if the charge is related to a specific unit) and the Expense Account. 5. Verify the Default Bank Account (the account used when writing checks to pay bills), or select a different account as appropriate. 6. If you d like to attach a file to this bill (such as a scanned receipt), click Attach and locate the file. 7. Click Save to save the bill. The added bill will be displayed in the Bill Center. Auto Bills The Auto Bills window displays a current list of automatic bills. You can filter the list by vendor or property. For each bill, you ll see the vendor, how often the bill should be paid, the terms, the last post date, how many payments are left, and the amount. An auto bill is similar to a template for recurring bills where a bill can be entered once and posted again and again on a regular basis. In this sense, auto means that a bill will be created automatically when auto bills are posted; however, when you post auto bills, a one-time bill is created for each. You can also manually create a one-time bill as described in One Time Bills. 43

Rent Manager Xi Setup Guide To add an automatic bill for a vendor: 1. Select the Auto Bills tab, and then click Add Auto Bill. The Auto Bill form looks similar to the one illustrated in One Time Bills. 2. Select a Vendor from the list, and enter an Invoice number. 3. Select the billing frequency, terms, and amount. 4. Allocate the expense to the appropriate Property and Account, and then click Save. Search for a Bill 1. In the One Time Bills tab, either select a Vendor or select a Property to show all bills for the specified vendor or property. 2. To find bills that match a date range, select either the Bill date or Due date option and pick the search criteria. Also enable or disable the Unpaid Bills Only option as appropriate. 3. To search for a specific invoice number, enter the number in the Invoice field. Rent Manager displays the bills it finds in the lower part of the form. Click View Bill to see the details of a selected bill. Add Vendors Vendors are individuals or businesses who charge for a service or product. Whenever you write a check to someone, the individual or business is automatically added as a vendor. You can manually enter information about all of your known vendors at the same time, or you can add vendors as the need arises. When you manually add a vendor, you have to select the property for which the vendor is conducting business. Otherwise, the vendor will, by default, be associated with all properties. To add vendors: 1. Select Setup from the File menu, and then select Add Vendors. 2 Enable Continuous Add to enter multiple vendors without having to reopen the form. 44

5 Operational Activities 3. Enter the vendor s Name, address, and contact information. The vendor s name is automatically filled in as the Check Payee, which you can change if the check should be made out to a different name. 4. Enter an Account Number. 5. If the vendor happens to also be a customer, you can link the vendor to the associated Customer data by clicking and selecting the property and customer record (To remove the link, click ). To prevent your vendor list from becoming cumbersome, disable the Active option for one-time vendors, such as customer refunds. When you refund a customer s security deposit, Rent Manager adds the customer as a vendor. The Link feature makes the vendor/customer association. 6. Click Next, and then enable the 1099 Vendor check box as appropriate. 7. Enter the vendor s 1099 Tax ID or social security number, and then click Next. 8. Optionally, enter default values for any previously-defined fields, and then click Next. 9. Select one or more Properties (or all properties) for this vendor, and then click Finish. When you receive a bill from a vendor, add the bill as described in Add Bills. Post Auto Bills After auto bills have been entered in the Bill Center and are ready to be paid, they must first be posted. To post bills, select the Post Auto Bills tab on the Bill Center (refer to Add Bills ). 1. Select the Vendors and Properties for which auto bills have been established. 2. Unselect any bills that you do not want to post at this time, and then click Post Selected. You can pay bills after they ve been posted. Pay Bills Paying bills involves selecting which ones to pay and from which bank to draw funds. Before Auto Bills can be paid, they must first be posted (refer to Post Auto Bills ). To pay posted bills, select the Pay Bills tab on the Bill Center. 1. Select the Vendors and Properties for which to show unpaid bills. 2. To find bills that match a date range, select either the Bill date or Due date option and pick the search criteria. 3. Unselect any bills that you do not want to pay. 4. To combine all bills for the same vendor into one check, enable the Consolidate by vendor option. 45

Rent Manager Xi Setup Guide 5. Select a Bank account for each bill in the Unpaid Bills list, or select one Bank at the bottom of the Bill Center from which to pay all selected bills. 6. To only pay bills, click Pay Bills. To pay bills and print checks, enable the checks will be printed option, and then click Pay Bills & Print Checks. Write Checks To write a check to pay an expense, select Accounts Payable from the Activities menu, and then select Write Checks. 1. Select the Bank Account from which to draw funds. 2. Select the vendor from the Pay to the order of list. 3. Enter in the $ amount. 4. Select the Property for which the check is being written. 5. Select an Expense Account. You can divide the payment amount among different expense accounts, for example if you purchase supplies for multiple rental units or different properties. Allocate payment amounts to different expense accounts in the general ledger area. Rent Manager tracks money by property and unit, if designated. 6. To print the check, enable the Check will be printed check box, and then click Print. Ordering Checks Rent Manager requires a unique check stock. To order checks for Rent Manager, please call our exclusive Rent Manager forms vendor, at 937-438-0197. 46

6 More Advanced Features After completing, or during, the general setup process, you might want to go ahead and enter information for some of Rent Manager s more advanced features. Not all users will implement these features, and some require you to purchase add-in s. Add-in s extend the functionality beyond the standard features. Some add-in s, such as epay, require you to open an account with another vendor. Although this section refers to more advanced features, they are not difficult to use or understand. These features are designed for specific types of businesses and are not required to successfully use Rent Manager. Adding Floors and Amenities Maintaining a list of floors and amenities makes it easy to look for units that offer the features that customers want. Use the Unit Picker ( Pick a Unit ) to see which units are available at Move-In time. Add floors To create a list of floors for a property that you can assign to a rental unit: 1. Select Floors from the Lists menu. Floors that have been created are listed on the left. You can reposition floor descriptions in the list on the left side of the form by selecting the description and clicking Move Up or Move Down. 2. To make a floor available to a property, select the description on the left, enable the check box next to the property name on the right, and then click Update. 3. To create another floor, click New. 47

Rent Manager Xi Setup Guide 4. Enter a Description. 5. Select the Properties to which you want to add the new floor. 6. To keep this form open after adding a floor so that you can add more floors in the same session, enable the Continuous Add option. 7. Click Add. The new floor description is added to the list in the Property Floors form. Add amenities To create a list of amenities that you can add to any property and assign to a rental unit: 1. Select Amenities from the Lists menu. 2. Select the General tab. Amenities that have been created are listed on the left. 3. Click New to add an amenity to the list. 4. Enter a Name and Description. 5. Enable Continuous Add to add multiple amenities without having to reopen the form. 6. Click Add. The amenity is added to the list. 48

6 More Advanced Features 7. To assign amenities to rental units, click the Amenities tab. 8. Select the Property. The rental units are listed on the left. 9. Enable (check) the check box for each amenity you want to assign to a specific unit. Quickly assign all amenities to a unit by clicking next to the unit number. Quickly assign an amenity to all rental units by clicking below the amenity name. 10. Click Save. 49

Rent Manager Xi Setup Guide Pick a Unit Users who have the optional Prospect Manager, can search for units that match specific criteria, such as availability on a specific date, rent priced within a certain range, amenities, types of units, floor level, etc. To pick a unit: 1. Select Find from the Activities menu, and then select Unit Picker. 2. Select a Move In date. 3. Enter the number of People and the desired Rent Range price. 4. Select a specific Property from the list, or search all properties for matching criteria. 5. Select other options as appropriate. To see only available units, disable (uncheck) Show all units matching criteria. Units that match the selected criteria are displayed at the bottom of the form. You can print the list, or you can print information about one or more selected units. You can also add a customer or interested prospect to an available unit; click New Customer or New Prospect respectively. Adding Auto CAM Charges Common Area Maintenance (CAM) charges are created to bill customers for expenses related to areas that all customers share, such as lobbies, lighted parking area, and landscaping. CAM charges are generally based on a customer s percentage of square footage of a property. The CAM charge itself is usually built into the customer s lease to help offset expenses to the overall property or business. For example, a retail center might add CAM charges for cleaning and maintenance of common areas. Each rental customer would be charged a portion of the cost. CAM charges, like other auto charges, can be applied to the property, unit type, rental unit, or directly to a customer. 50

6 More Advanced Features Before you add CAM charges, make sure the charge types (Lists Charge Types) and expense accounts (Lists Chart of Accounts) are set up (refer to Add Charge Types ). The charge types must be designated as CAM charges, and the expense accounts must also be designated as CAM accounts. To add an Auto CAM charge to a customer s account: 1. Select Customers from the Rental Info menu and click the Auto Charges tab. 2. At the bottom of the form, click Add CAM. 3. Select the Charge Type and a From date to begin billing the customer. 4. Select how to divide the amount between customers, and then specify an amount (user-defined field value, a specific amount, etc.). 5. Click Save to add the CAM charge to the customer s auto charges. CAM charges won t be applied until auto charges are posted. The main difference between a CAM charge and an auto charge is how CAM charges are distributed among customers, such as a percentage of total square feet, or a percentage of occupied areas, or divided equally among customers, etc. 51

Rent Manager Xi Setup Guide Enter GL Beginning Balances After setting up bank accounts as described in Setting up Bank Accounts, you can enter the beginning balances (at GL start date) for each General Ledger account. First, run a Trial Balance sheet (as of the day before the GL start date) from your previous accounting system to obtain the information you need. To enter GL beginning balances: 1. Select Setup from the File menu, and then select Beginning Chart Balances. 2. Enter the beginning balance for each account under the appropriate property. Remember: Assets = Liabilities + Owner s Equity. You won t be able to save your changes unless your accounts are in balance. 3. To see the GL system accounts (net income account, undeposited funds account, etc.) click GL Preferences. 4. Click Save to save changes. Set Up an epay Account The Rent Manager epay system works in conjunction with an Internet-based, electronic payment solution provider. The epay feature automatically debits your customer s checking or credit card accounts, deposits funds in your bank account, and records the deposit in Rent Manager. To use epay, you must first enter the appropriate information in the System Preferences as described in the online help. Currently, Rent Manager uses JetPay Merchant Services which combines an online payment gateway, real-time credit card processing, and merchant account services. For more information about JetPay, call 800-754-0200. 52

6 More Advanced Features First enter property information To set up an epay account: 1. Select Properties from the Rental Info menu. 2. Click on the Payments Setup tab. 3. Select Enable epay for this property. 4. Enter your Terminal ID (provided by the electronic payment merchant), Bank Account, epay Warning Limit, Surcharge amount and charge type. 5. Indicate how much money should be automatically withdrawn from a customer s account. Set a maximum limit with the Never charge more than option. 6. To use epay for a particular charge type, or combination of charge types, click Selected Charges. Choose the individual charge types for which epay will be applied. 53

Rent Manager Xi Setup Guide Next enter customer information After setting up the Property epay payment information, set up epay for a customer. 1. Select Customers from the Rental Info menu. 2. Select the epay tab at the bottom of the Customer Information form. 3. Select the Account Type from which to draw electronic funds. For a Checking account, provide the Routing number. For Credit Card, provide the card type, number and expiration date. 4. Enter account information (name, number, billing address). 5. Click Save to save your changes. Now process recurring payments To process a group of epay payments: 1. Select Batch Operations from the Activities menu, and then select Post Recurring epay Payments. 2. Select the Properties you want to process. 3. Click Show epay Customers. 4. Verify the check boxes on the left next to each customer, and uncheck any payments that should not be processed. 5. Click Process epay for selected Customers. The epay Transaction Confirmation dialog is displayed. 6. Click Confirm Transaction. Rent Manager will then connect to the Clearing House via the Internet to process the payments. When Rent Manager has completed the process, it will shift any declined transactions to the top of the list and flag them in red. Once all transactions have been processed, a Report button will let you print an epay report that provides details on each transaction. 54

6 More Advanced Features Process one epay payment To process one (non-recurring) epay payment: 1. Select Customers from the Rental Info menu. 2. Click on the epay tab. 3. Verify epay Information and Save any changes. 4. Click on the Payments tab. 55

Rent Manager Xi Setup Guide 5. Enable the epay option. 6. Select the payment Date, and enter an Amount. 7. Click Add. A transaction confirmation dialog is displayed. 8. Select the Posting Date. 9. Select the type of account to use for this transaction (ACH or credit card). 10. Provide specific account information (name, number, address, etc.) 11. To make this the customer s default epay account, enable the Make Default Account check box. 12. Click Confirm Transaction. 56

6 More Advanced Features Customize the Toolbar Rent Manager toolbar buttons let you select an activity by clicking an icon. For example, to make a deposit, click this icon on the toolbar. A customized toolbar can be created for each user by adding or removing commands and icons. Remove commands or buttons for functions that you don t want a user to access. Add commands and buttons for activities he or she performs most often. Keep in mind, if you customize the toolbar the step-by-step instructions in the documentation might not provide the correct information to help you successfully complete a procedure. To customize a toolbar: 1. Right-click on a blank area of the toolbar (not a button), and select Customize. 2. On the left side of the form, select which User s toolbar you want to customize. 3. At the bottom of the form, select the Button Type and Text Location. 4. To add a button to the toolbar, select an Action from the command list in the center of the form and press. 57

Rent Manager Xi Setup Guide 5. To remove a button from the toolbar, select the button from the User Menu on the right and press, or right-click on the button and select Remove from the shortcut menu. 6. To reposition a button on the toolbar, select the button in User Menu list and press or. 7. Click Save to save changes to the toolbar. You can use the drag-and-drop method to add, remove, and reposition buttons on a toolbar. Instead of selecting an action or button and clicking a directional arrow (i.e. ), drag the item from one group to the other. Move a button on the toolbar by dragging it up or down in the User Menu list. To create a button, refer to Create a Toolbar Button. To change a button s icon, refer to Change a Toolbar Button. To add a menu to a button, refer to Add a Dropdown Menu to a Toolbar Button. To copy a user s toolbar for a different user, refer to Copy a Toolbar. Create a Toolbar Button If you want to create a button and add it to a toolbar, display the Edit Toolbar form by right-clicking on an area of the toolbar, and select Customize. 1. On the left side of the form, select which User s toolbar you want to customize. 2. Click Create Button. 3. Enter a Name and Description, or leave these fields blank and let Rent Manager automatically fill in the information based on the action you select. 4. Select an Action (i.e. Loans) to see the available commands. 5. Select the command to invoke (i.e. Post Loans). 58

6 More Advanced Features 6. Select an Icon from the menu, or click Add Icon to locate and select an icon that s saved on your PC or network. 7. To add a menu to the button, enable Dropdown Menu and follow the instructions in Add a Dropdown Menu to a Toolbar Button 8. Click OK. Change a Toolbar Button You can change the button name and icon for the toolbar buttons that you create. Rent Manager provides many icons from which you can choose. You can also use one of your own images (.ico,.jpg, or.bmp) if you d like. To change a button s name and icon: 1. Right-click on an area of the toolbar, and select Customize. The Edit Toolbar form is displayed as illustrated in Customize the Toolbar. 2. In the User Menu group, select one of the buttons you created, and click Edit Button. 3. Enter a Name and Description, or leave these fields blank and let Rent Manager automatically fill in the information based on the action you select. 4. Select the Action (i.e. Service Manager) to see available commands. 5. Select the command (i.e. Issue List). 6. Select an Icon from the menu, or click Add Icon to locate and select an icon that s saved on your PC or network. 7. Click OK. 59

Rent Manager Xi Setup Guide Add a Dropdown Menu to a Toolbar Button You can further customize the buttons you create (Create a Toolbar Button) and provide easy access to multiple functions from a central point. By adding a menu to a button, you can create a list of selectable items for the functions you use most often. To add a dropdown menu to a button that you created, enable the Dropdown Menu option in the Create Custom Toolbar Button form. Use the right side of the form to build a dropdown menu. 1. In the Action group, select a command to add to the menu. The command name shows up in the Name field. 2. To change the display name of the command, double-click the Name field and enter a different name. 3. Click Add Option to add the command to the menu. The command has the name that you assigned, and it invokes the action that you selected from the Action group. 4. Repeat steps 1-3 for each command that you want to add to the menu. 5. To move a command up or down in the list, select the name and click Move Up or Move Down. 6. When you re finished adding commands to the menu, click OK. 60

6 More Advanced Features Copy a Toolbar After you customize a toolbar by adding and removing buttons, you can copy the toolbar and make it available for another user who uses the same Rent Manager features. To copy a toolbar: 1. Right-click on an area of the toolbar, and select Customize. The Edit Toolbar form is displayed as illustrated in Customize the Toolbar. 2. In the Users group, select the name of the person whose toolbar you want to copy, and then click Copy User. 3. In the Source User menu, select the user whose toolbar you want to copy. 4. In the Copy to Users group, enable the check box next to the person(s) to whom you want to provide the copied toolbar. 5. Click OK. 61

A Glossary The following terms are used throughout Rent Manager. Term accounts allocation amenity assets bank account bank reconciliation CAM charge type chart of accounts customer expenses epay forms general ledger Definition The various ledgers that are used to record the data related to business transactions. The summary of all transactions in all ledgers for a company is called the General Ledger. A list of every account in the General Ledger is the Chart of Accounts. The process of applying payments to charge types. A feature of a specific rental unit, such as garage, pool, fireplace and pets. Items of economic value that can be converted to cash, such as bank accounts, accounts receivable, supplies, land and buildings. An account used for receivables, writing checks, and posting management fees. Process of adjusting an account s register to match the bank statement. Common Area Maintenance Items that are billed to customers. Each charge type is directly linked to a general ledger account. Each charge type is assigned a unique code. A list of all account names in a company s General Ledger. Anyone who receives a product or service for a fee. The cost of doing business. Decreases in owners equity that result from operating a business. Rent Manager s electronic payment system. Data entry windows you use to record information related to Rent Manager transactions. As you fill out forms, you choose items from lists, pick a date from a calendar, select options, and enter text in boxes. A file that lists all of the company s financial transactions. Also called the ledger. 63

Rent Manager Xi Setup Guide Term journal journal entry list market rent net income owner posting property receivables roll rollback unit Definition A chronological record of all transactions; the place where transactions first enter the accounting records (original entry). Journal notations that record a single transaction. A collection of items that stores information that's used over and over to fill out forms, invoices, statements, reports, etc. When you add an item to a list (e.g. chart of accounts, automatic charges), the information that you supply (description, account info, default values, etc.) is automatically filled in whenever you use that item in a transaction or report. The street price of rent; what others are paying for a similar unit. The net increase in owner s equity that results from business operations and is accumulated in the Retained Earnings account. Revenues less expenses when revenues exceed expenses. Anyone who owns income-producing rental units either solely or in partnership with other investors. The process of transferring journal entry information from the journal to the ledger. An entity that conducts financial business transactions with customers providing goods or services, collecting income, and paying bills. In Rent Manager, property is not restricted to a piece of real estate, although it can include one. Cash and money owed to a company by customers. A list of customers of a specific property. Reverse the most recently posted batch transaction charges (group of charges). The physical space (apartment, storage facility, suite, home, lot, etc.) that can be rented to a customer. unit type A category for differentiating characteristics among units, such as 1 bedroom, 2 bedroom, attached garage, fireplace, ground-level, etc. Creating specific types produces better search and report results. 64

Appendix A Glossary Term user user-defined field vacancy loss vendor Definition Someone who uses Rent Manager software to manage rental properties and maintain accounting records. A user is assigned a username and password for accessing and updating Rent Manager records. A data field that was created by a user. A user-defined field can have the same or a different input value each time it s used. The market rent of all vacant units. A person or company that provides a product or service for a fee. 65