Knowledgebase is a database of Rent Manager® FAQs, work-arounds, and tested solutions assembled by our Support Specialists and Instructional Resources staff. This expansive, instructive resource provides all sorts of valuable information about your Rent Manager property management software.
If you find you have management fee structures common to different ownerships you can save time in the set up of ownerships and the update of management fee structures by creating and selecting default management fees. To use default management fees, add the structure as a default, select it for existing ownerships, and update system preferences so new owners inherit the default setting.
Establishing default management fees:
- Go to Owners > Default Management Fees.
- Click New.
- Enter a Name for this management fee structure (such as 10%, 15% with Pass Thrus, etc).
- Input the management fee structure and click Save.
- Repeat steps 2-4 for each additional management fee structure.
If the default management fee structure needs to be updated, you can return here to modify it. Any ownership inheriting the default will automatically be updated.
Select the default management fee on existing ownerships:
- Go to Owners > Owners.
- Select the owner from the list.
- Click the Fees Setup tab.
- Select the property from the Ownership drop-down list.
- Select the default management fee structure from the Management Fees drop-down list.
- Click Save and confirm any pop-up messages that may appear.
- Repeat steps 4-6 for additional ownerships and repeat steps 2-6 for each additional owner.
If the management fee structure changes, you can return here to select a different default management fee or select<custom setup>and input a unique management fee structure. Any changes to the management fee structure will apply on future management fee postings.
Specify the default management fee structure for new owners:
- Go to File > Administration > System Preferences.
- Scroll to the Owners group and select Mgt Company.
- Select the default structure from the Default Mgt Fee Setup drop-down list.
- Click Apply and OK.
As new owners are entered and ownerships are defined, by default this management fee structure will populate in the appropriate fields. If the default is not appropriate for the ownership, another can be selected or a unique management fee can be provided.
REQUIREMENTS / PERMISSIONS
Go to File > Administration > Manage Users:
To add or edit default management fees:
- Owners group: View Owners
- Owners group: Add , View and Edit Default management fees
To select default management fees on existing ownerships:
- Properties group: Enable (check) the appropriate Properties
- Owners group: View and Edit Owners
To select the default management fees in system preferences:
- System group: View and Edit Administration items
- Owners group: View Owners
This article can also be viewed within the Knowledgebase.