ENTERPRISEONE 9 VALUE PROPOSITION: REAL ESTATE
In today’s tough economy, real estate management companies are increasingly focusing on the expense side of property management to maintain profit margins. This often requires complex expense and cost recovery from tenants using expense participation.
Release 9.0 has two dozen capabilities for setup and ongoing management of expense allocations. Expense participation handles complex expense scenarios for accurate recognition of intricate expense and lease level caps. Release 9.0 Expense Participation Enhancements include:
Definitions for Control of Occupancy
Release 9 allows definitions for control of occupancy for the purpose of determining expense participation and distinguishing between economic vs. physical occupancy.
Expense Participation Caps
The expense participation generation process includes the billing of leases that may contain provisions to limit the amount of increase in operating expenses for which the tenant is responsible.
Release 9 provides for the use of cap rules definitions and assignments with limits at account and lease levels to improve the accuracy of expense participation calculations.
Expense Participation Class
Release 9 enables users to identify expenses by property or building, account number and time period, and then group these expenses into expense classes to process and maintain operating expenses shared by tenants.
Release 9 enhancements allow users flexibility to set up expense participation class information at various levels and control expenses at different levels for any tenant through the use of overrides, caps and ledger types, for each expense participation class.
A new ‘Security Business Unit’ restricts users from modifying expense participation classes at a building and grouping level.
Expense Participation Rules
Users calculate tenants’ share of expenses for each expense class in which they participate using system parameters. These parameters define the specific rules to apply or exclude for expense participation.
Expense Participation Generation
Set up expense participation information for more accurate recovery calculations.
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