Process Lost Management

Summary

This article will provide an overview of the steps involved in processing a Management Lost to another Agent or handing the Management back to the Owner.

Covered in this article: 

• Finalising the Tenancy Profile
• Finalising the Property Profile 
• Finalising the Ownership Profile

Finalising the Tenancy Profile

Enter Vacate Information

• Tenant Profile > Lease & Rent Tab > Vacate Information > Edit Pencil
• Notice: Enter the date you have received notification of the lost management
• Moving out Date: Enter the last day you will be managing the Property
• Charge to Date: 
  • If you are required to transfer funds to the new agent you will enter the same date you entered under the Moving out date
  • If you are paying the funds out to the Owner as part of the final Payment & Statement you can enter the date as the Tenant's current Paid to Date. If the tenant does have a part payment on file it is recommended you enter day after the Effective Paid to Date as the charge to date. This will ensure that funds will not be owed to the Tenancy and remain with the Ownership.
• Description: Make note that the tenant is not vacating the premises but you will no longer be managing the Tenancy

Finalise Bond & Deposits

Bond Held by Bond or Deposit Authority

• Tenancy Profile > Lease & Rent Tab > Bond & Deposits > Edit pencil next to the Bond Schedule
• In the Description box make note that the bond is held by the Bond or Deposit Authority and that a variation will be processed with the relevant Authority

Bond / Deposits held in Trust

First you will need to ensure that the Bond Authority set up in Property Tree is deactivated. This will only be available to Administrators in Property Tree. 

• Configuration > Bond & Deposit Authorities
• Select the required Bond & Deposit Authority
• Click on the x to deactivate the Authority

Note: The Bond Authority Deactivation is only temporary and MUST BE be reactivated after the process of releasing the held security deposit is completed.

If a Bond & Deposit Authority is not deactivated prior to the next step the account will not be available to select. 

To release the Bond / Held Security Deposit go to:

• Accounting > Tenancy Funds > Release Held Security Deposit
• Search for the Tenancy Profile whose Bond / Deposit you wish to release
• Select the Deposit Account from the drop down menu
• Click on release funds
• The Bond / Deposit will now be visible under the Held for Tenancy section on the Tenancy profile.

Activate the Bond & Deposit Authority after the above is completed: 

• Configuration > Bond & Deposit Authority
• Click on the Tick to activate the relevant Authority

Finalising the Property Profile

Enter Lost Management Information

• Property Profile > Details Tab > Property Management Information > Edit Pencil
• Change the Authority End Date to reflect the last day you are managing the Property
• Tick the 'Lost' box 
• Select Reason from the 'Lost Reason' drop down menu
• Save

Finalise Open Maintenance Requests

• Property Profile > Maintenance Tab

Cancelling Maintenance Requests

• Access the maintenance request you wish to cancel
• Click into the Maintenance Request #
• Actions
• Cancel

When you cancel this Maintenance Request the associated Jobs, Quote Requests and Work Orders will also be cancelled.

• Cancellation Reason – Enter the reason for cancelling the Maintenance Request which will be visible in Property Tree
• Email Cancellations – This is ticked by default. Having this option ticked will trigger cancellation emails to be sent to the Creditors advising them that the Maintenance Request / Quote / Work Order has been cancelled. If you do not want to send a cancellation email to the creditor, untick the box
• Enter the cancellation reason that should display in these emails – This is what you would like to say to the Creditor as to why the work order has been cancelled
• Save – this will save the reasons entered, send the emails to the creditor (if selected) and update the Job status to Cancelled.

Completing Maintenance Requests

You can complete Maintenance Requests in Property Tree by linking the Creditor Invoice to the Maintenance Request. 

• Accounting > Create Creditor Invoice
• Complete the Invoice Details
• Drag & Drop or Browse for files you would like to attach to the Creditor Invoice. Attachments will be emailed with the Ownership statement and any linked tenancy invoice. Attachments size cannot be larger that 30MB.
• Select the Maintenance Request from the list once selected the 'Set job to complete' option will automatically be ticked. 

Close a Job without entering or linking a Creditor Invoice

• Go to the Maintenance Request you want to complete. 
• Scroll to the bottom of the page and click 'Complete Job' 

NOTE: 'Complete Job' will only be available after a Work Order has been sent.

Remove the Key Number associated with the Property if you wish to use it in future.

Finalising the Ownership Profile

The following is required to finalise the Ownership Profile: 

• No Unarchived Properties
• Ownership Balance is Zero ($)
• Statement Created for All Transactions
• No Outstanding Fees

Ensure the Ownership has funds available for any outstanding fees as this will process when the Final Statement is created. 

If the Ownership does not have funds available you will need to cancel the fees before processing the statement by following the below steps: 

• Ownership Profile > Financials Tab > Fees > View Fees > All > Remove any tag in the portfolio field

In order to process the final statement you will go to: 

• Ownership Profile > Actions > Pay Ownership

Note: You are required to process the Ownership Payment and Statement even if there is a Zero balance on the Ownership. 

When processing the final statement ensure any event driven admin fees are removed by clicking on the box and then the X.  

Once completed the Ownership profile can be archived. 

Still need assistance? 

Click on the Need Help icon to the right hand side of your Property Tree screen and select Need Further Support to contact our Support Team.