| Keynan Hussein | email | Dec 24 2014, 10:21 AM |
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We have recently purchased LandlordMAX for our company and are thoroughly enjoying its many features. It has a plethora of features that makes property management a much more streamlined process. However, with so many features, it's very possible for some of them to be a little more difficult to find, hence this post. Specifically, I'm wondering if it is possible to set an end date for a scheduled entry. We have several leases where the yearly rent increases do not follow a fixed pattern, meaning that we can't just add the amount of yearly increase in the tenant's lease info, since it won't accommodate the different changes over the years. Instead I've decided to use the scheduled entries for that, but unless there's a way to set a stop date for it, I fear that we'll end up with multiple double entries for tenants. It seems like a convoluted issue, so here's an example. "Tenant A" has a 5 year lease with us at $1000/month, where the rent goes up by $100 after the first and second year each, and increases by $150 after the third, forth, and fifth each. These irregular increases mean that I can't put one value for rent increases in the tenant's lease info. So I try to work around that by using the scheduled entries. I make one for the tenant from the start of his lease at $1000/month. However, once the second year begins the rent will become $1100/month. I can add another scheduled entry, but the previous one still exists, essentially double-charging the tenant. This problem might not seem like much, but by the 5th year the tenant will have 5 different scheduled entries. Couple this with dozens and dozens of tenants and it becomes a problem. Long story short, is it possible to set an end/stop date for scheduled entries? Thanks for any help that comes! |
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| Stephane Grenier | email | Dec 29 2014, 01:43 PM |
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Hi Keynan, Firstly thank you for the kind words in regards to LandlordMax, these are appreciated. In regards to your question this is currently not possible. Basically the software is mainly geared towards residential tenants. Yes it does support commercial tenants but within limits. We continue to try and improve the support of commercial tenants but this is not yet available other than manually adjusting the Scheduled Entries (deleting those that are no longer needed). Basically solutions that fully support commercial tenant, including multi-year leases with increases each year, as well as things such as automatic CAM charge calculations, will cost upwards of 10-20x the price of our Desktop Edition. In other words no other property management software priced anywhere near our price range will offer this. It mainly comes down to the complexity, and hence costs, to implement these features. Now this isn't to say we won't be adding this functionality, only that at this time it's not available, it has to be done manually. Regards, Stephan Grenier Founder LandlordMax Software Inc. http://www.LandlordMax.com http://www.FollowSteph.com |
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