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Owner's menu & FAQ
See: Rental owner / Rentals / Leasing / Accounting / Maintenance / Tasks / Reports
Q: How to find all of your property addresses in your portfolio?
Q: How to find out how much rent or land contract installments collected?
A: Rental owner / Financials ; Rentals / Properties / Financials; Accounting / Financials
Q: What are charge and payment in Rentals / Properties / Financials?
A: Amount payable by the tenant/land contract buyer, it offsets with the payment received, which becomes owner/land contract seller's income.
Q: What is balance in Rentals / Properties / Financials?
A: Total amount owed by the tenant/land contract buyer to owner/land contract seller. The bigger the number, the more is owed.
Q: How are land contract installments recorded in tenant/land contract buyer financials?
A: Rentals / Rent roll / Financial / Land Contract Similar to a mortgage, the payment to 2 different account: land contract principle and land contract interest.
Q: How are land contract installments recorded in rental owner statement?
A: Reports / Rental owner statement / Income statement / Land contract Similar to a mortgage, the payment to 2 different account: land contract principle and land contract interest.
Q: How to find and read your financial statement?
A: Rental owner / Financials ; Accounting / Financials
Q: What is property reserve?
A: Owner/land contract seller's reserve kept in the account for emergency use.
Q: How much do you have in your reserve?
A: Rentals / Properties / Summary
Q: What is security deposit?
A: Usually 1~1.5 month of rental amount. The balance of the tenant's deposit is to be return to the tenant, after the expenses withheld.
A landlord's deductions from a tenant's security deposit must be reasonable. The landlord may make deductions for missing rent payments and for damages beyond ordinary wear and tear, which is the subject matter's depreciation or deterioration in value by reasonable and ordinary use by the tenant. Examples of non-deductible wear and tear include: paint retouching, minor cleaning, small tack holes, and nicks and scratches. Examples of deductible damages include large or excessive holes in the wall, carpet stains, and broken doors and windows.
If a landlord wrongfully withholds a tenant's security deposit, the tenant may be entitled to additional damages beyond the amount of the security deposit. These may include statutory damages for local consumer collection practices act violations, damages that may total two or three times the value of the deposit (depending on the state), consequential (resulting) damages, interest, and in more rare instances punitive damages. from Wikipedia
Q: Where to observe the security deposit?
A: Rentals / Rent roll / Financial
Q: Where to find withheld deposit?
A: You find Applied deposit; Deposit to balances in
Additions to cash, subtraction from cash and adjustment
--> less adjustment, more available for payment. Please check the examples below for better understanding.
Q: What is available for payment?
A: Money available in your account for spending. Rentals / Properties / Summary ; Reports / Read rental owner statement / Summary & Available for payment
Cash-in - (Cash-out + deduction of security deposit + reserve)
When your available for payment is negative, there will be a default monthly fee of 25 USD. After compliance, a set-up fee of 150 USD will be charged.
Q: What is adjustment? Rentals / Properties / Summary ; Reports / Read rental owner statement / Summary & Available for payment
A: Reserve and security deposit are unavailable for spending, unless there are urgent issues or security deposit being withheld.
Example 1: When a tenant deposits a security deposit of 1,000 USD, you have 350 USD reserve
Beginning cash balance = 3,000 USD
+Additions to cash, 1,000 USD
-Subtraction from cash, 0 USD
-Adjustment, (1,000+350) USD
=Available for payment= 2,650 USD
Example 2: When a tenant deposits a security deposit of 1,000 USD, 100 USD withheld, you have 350 USD reserve
Beginning cash balance = 3,000 USD
+Additions to cash, (1,000+100) USD (100 USD is Applied deposit)
-Subtraction from cash, 100 USD (100 USD is Applied deposit)
-Adjustment, (900+350) USD (900=1,000-100)
=Available for payment= 2,750 USD
Example 3: When a tenant has a security deposit of 1,000 USD, 100 USD withheld, you have 350 USD reserve
Beginning cash balance = 3,000 USD
+Additions to cash, 100 USD (100 USD is Applied deposit)
-Subtraction from cash, 100 USD (100 USD is Applied deposit)
-Adjustment, (900+350) USD (900=1,000-100)
=Available for payment= 1,750 USD
Example 4: When a tenant has security deposit of 1,000 USD, you have 350 USD reserve, 1,000 USD security deposit fully refunded.
Beginning cash balance = 3,000 USD
+Additions to cash, 0 USD
-Subtraction from cash, 1,000 USD (refund)
-Adjustment, (0+350) USD (0=1,000-1,000)
=Available for payment= 1,650 USD
Example 5: When a tenant has security deposit of 1,000 USD, you have 350 USD reserve, 100 USD reserve is used
Beginning cash balance = 3,000 USD
+Additions to cash, 0 USD
-Subtraction from cash, 0 USD
-Adjustment, (1000+250) (250=350-100)
=Available for payment= 1,750 USD
Q: What is the short-cut to your current balance, security deposit, reserve & available for payment?
A: Rentals / Properties / Summary
Q: How to find your tenant / land contract buyer information?
Q: What are bills?
A: Expenses deducted from your income, they can be generated from work orders Tasks / Work orders & Bills, Maintenance / Work orders.
Q: How to find your bills?
Q: How to find your records of wiring made to you or to us?
Owner contribution: Money you have wired into your account
Owner draw: Money has been wired out from your account
Attention: wiring records not part of the financials.
Q: What are tasks/ requests? from help center and
A: All tasks are numbered for tracking, they can be assigned to different users. All users are able to see the progress of each task, in order to complete the tasks together.
Q: What is rental owner request:
A: Tasks created to interact with owners/land contract sellers.
Q: How to create rental owner requests?
A: Rental owner / Requests ; Rentals / Properties / Tasks ; Tasks / All tasks
Q: What is resident request:
A: Tasks created to interact with residents (tenants or land contact buyers)
Q: How to create resident requests?
A: Rentals / Rent roll / Tasks ; Rentals / Properties / Tasks ; Tasks / All tasks
Q: How to update a specific tasks?
A: Tasks / Assign ; Rentals / Properties / Tasks / Assign
Q: How to update a task and assign to the right person?
A: Rentals / Properties / Summary
Q: How to run or download your owner statement?
A: Reports / Run rental owner statement
Q: How to read your owner statement?
A: Reports / Read rental owner statement / Summary & Available for payment
Reports / Read rental owner statement / Income statement
Q: How to see details of your owner statement?
A: Reports / Read rental owner statement / Summary & Available for payment
