ASA - List of All Features

Purchasing software for Property Management is easy when you have all the right information at your fingertips. Here at Accounting Software Advisor, we have compiled a comprehensive listing of all of possible property management system features we could find. If we've missed one, please let us know. Property Management Solutions will typically fall into one of the following categories:

Residential Properties
- Rental Homes
- Apartments
- Homeowners Associations
Commercial Properties
- Office Buildings
- Warehouse Space
- Industrial Buildings
- Hotel/Resort Properties
- Storage Unit Facilities

This list is provided to help you get started evaluating the needs of your company, and we hope that you find this useful. Whether your company handles residential rentals or hotel/resort accommodations, your software needs are unique and can be satisfied.

Residential/Commercial

q Work Order Tracking - All incomplete work orders and repair entries.

q Credit Checks – Automatically tenant’s credit report.

q Incidents - Keep a dated record of all interactions with tenant including complaints or disputes. Changes to the tenant form can be automatically logged to this tenant's Incident Folder.

q History of Letters Sent - A log of the history of all letters sent to a tenant.

q Personal Information Tracking – Track social security numbers, notes, move in and move out dates.

q Security Deposits - Keep detailed transaction history of security deposits, including deposit amounts paid and unpaid, charges for damages, and any interest paid on the account.

q Prospective Tenants - Keep a list of rental applicants and record details about them, such as employer, present address, your notes.

q Inactive Tenants - Keep a list of all tenants who have moved out, for future reference.

q Vehicle Allowances - List the vehicles that have been permitted on the property and appropriate parking allowances.

q Tenant Employment – Track tenant’s previous and current employers.

q Address History - List the previous address of the tenant, including previous manager's contact information. When tenant moves out, keep a record of new forwarding address.

q Remote Location Rentals - Invoices and receipts are sent to an alternate address.

q Recurring Charges - List the recurring charges for a tenant.

q Roommates - Roommates can be set up one of two ways. 1- Each tenant in the same unit can have separate charges showing on separate invoices and receipts; or 2- One or more charges can be shared. Shared charges will show up on invoices of all tenants in that unit.

q Lease Expiration - Lease expirations in chronological order, so you can easily renew.

q Mailing Labels - Print mailing labels for a unit, building or from the tenant list.

q Rent Roll Report - Listing tenant names and addresses, lease start and end dates, deposits held and rental amount. Run this report by unit, building, or by owner name.

q Appliances - Keep a dated repair record of each appliance, warranty and model number, and other information.

q Room Contents Listing - Keep detailed records of contents of the rental unit.

q To-Do List - Keep and prioritize a list of repairs, phone calls to return, items to buy, etc. Be reminded of chores you marked.

q Classified Ad - Compose and save the classified ad for each unit to save time each time there is a vacancy.

q Mortgage Information Tracking - Keep details about mortgages held for each building.

q Wall / Floor Coverings – Record information concerning the flooring and wall coverings in each rental unit.

q Owners Information - Show the ownership of each building. Each building can have many owners, each owning percentages, or just one owner.

q Vacancy Reports - Vacancy reports can be run for a building, an owner, or for all properties combined.

q Building Information - Mortgage or insurance information for buildings.

q Payments Quick View – Snapshot of tenant’s payment history.

q Income Categories – Detail income for each property.

q Government Subsidies Tracking - Section 8 or another source of subsidy as an income category.

q Payment Details - Record payments of cash, check or credit toward charges

q One Time Charges - Add a one-time charge or a beginning balance.

q Bank Deposits – Detailed and summarized accounting of deposit.

q Tenant Receipts – Access tenant information in an organized fashion to allow for quick print out of tenant receipts.

q Invoices - Send invoices to one or a select group of tenants.

q Late Rent Notices - A list of tenants who have unpaid balances so that late rent notices can be sent.

q Late Fees - Choose one or more late fee types for each tenant including fixed amount, amount per day, or discounted rent if paid early.

q NSF - Fees are added to the tenant balance.

q Non-Rent Income - Record miscellaneous unit or building income.

q Expense Tracking – Track expenses associated with any unit, building or owner.

q Unit Depreciation – List of all specified items as being depreciated.

q Check Allocation - Checks can be Split or Allocated to More than one Property and/or Expense Category.

q Bill Payments - Enter Bills as They Come in and Choose Which Ones to Print Later.

q Charge Back - All or part of the charges to a tenant

q Outstanding Work Orders - Prioritize and be reminded of pending work orders.

q Metered Utilities - Set up one or more meters for each tenant.

q Mini Storage Rental - Send a billing to a tenant in an address other than the rental address.

q Multiple leases per tenant - multiple units per lease and multiple tenants per lease.

q Customizable checklists - track pending move-ins and move-outs and simplify lease start and termination with user-defined checklists.

q Lease termination reconciliation - reconcile final charges, credits and deposits then send tenant refund information (if applicable) to the accounts payable application upon lease termination.

q Interest calculations on Deposits - calculate interest on deposits and issue tenant 1099-INT.

q Track tenant address types - Such as mailing, billing, corporate, attorney, forwarding, or any other type you choose.

q Track square footage by Units

q Amortized rent – Amortize rent concessions and increases in accordance with FASB 13.

q Rental forcasting - Gross potential rent and vacancy loss tracking.

q Post activity - to General Ledger or Accounts Payable applications automatically, or at a specified time.

q Retrieve budget information – including expenses from General Ledger for recoverable expense processing.

q Track weighted occupancy - for multiple square footage types by calendar or fiscal year.

q Calculate Management Fees – Calculate fees on a pre-determined schedule or anytime during fiscal period.

q Inter-Company Accounting - allow an entity to pay an invoice or receive payment belonging to another entity.

q Property Taxation - track property taxes paid, property valuations, and tax exemptions.

q Insurance Tracking - track pertinent insurance information on a property (insurance effective date, expiration date, value, deductibility, agent's name, etc.).

q Customized Billing - create a customized billing format.

q Customized Expensing - customize recoverable expenses and escalations based on last year's actuals or next year's budget, then automatically apply stops, caps and base-year amounts.

q Record Transfers - Review and adjust amounts transferred from the General Ledger application to Property Management prior to processing recoveries.

q Retroactive Billing - Retroactively bill unpaid charges resulting from recoverable expense reconciliation.

q Base index escalations - on formula-driven CPI or Porter's Wage calculations.

q Post receipts - to existing charges, new charges, prepayments, open credits and deposits.

q Auto Invoicing - Apply open credits to outstanding charges or automatically create an invoice in an Accounts Payable application to cut a check.

q Cash-only Status - Set a tenant to a cash-only basis.

q Sales Tax On Rent - Track and charge sales tax on rent or other charges.

q Miscellaneous Charges - Bill miscellaneous, non-recurring charges at any time.

q Conference Rooms Rentals

q Campsites Reservations

q Yachts & Boats

q Marina Slips

q Office Space

q Timeshare Condos

q Budget Preparation - Prepare budgets for one property or all properties.

Hotel/Resort

q Internet Customer Reservations - Allows guests to make reservations over the Internet

q Past Guest Marketing - such as integrated mass e-mail to past guests or potential guests who visited your website.

q Connectivity to the Global Distribution System (GDS) – allows your system to be accessed by websites and Travel Agencies who use GDS.

q Future Booking Capabilities – reservations for units available in the future.

q Guest History – check past guest files.

q Package Rate Calculator – determines the rate if reservation is a package.

q Discount Rate Calculator – Guests who qualify for corporate, age related, or seasonal discounts.

q Package "Rules" - 3 day minimums, always arrive on a Friday, etc

q Package Description - available for reservationists and guest

q Automatic Pre-Scheduled Rate Changes

q Rates Calculated by Unit Type or Unit Number

q Components Calculated by Season

q Daily & Lump Sum Components

q Manual Override of Package Price and Tax amount

q Central Reservations - reservation capability to companies with multiple properties.

q Real Time Remote Reservations - A full time connection between the property and central reservations for true last room availability

q Polling of Remote Locations - transmits database changes on a nightly basis. This option is best for those companies that cannot get a full-time data connection to the property.

q Corporate Rental Reservations - corporate rental and interim housing marketplaces.

q Income Equalization – rental income disbursement among property owners.

q Owner Statement – Reservation revenue flows to the owner’s statement.

q Extra person charges - automatically calculated with a multi-person reservation.

q Unique Rates – rates assigned according to unit type.

q Travel Agent Commission Deductions – Travel agents automatically paid.

q Reservation Change Recalculation - estimated total room charge is automatically re-calculated

q Advance Deposit Ledger – Advanced deposits are logged automatically.

q Credit Card Interface to Reservations – Credit card information can be taken into the system directly from reservations desk.

q Travel Agent Interface – special interface designed specifically for Travel Agents.

q Adjoining Rooms & Lock-Offs – Special room allocations can be assigned to guests.

q Registration Cards – Cards can be made for guests during registration.

q Confirmation Letters – Confirmation letters can be designed to confirm a reservation.

q Yield Management System - Allows management to analyze historical occupancy and rates and pre-establishes cut-off levels for each rate plan for each day.

q Historically Busy No Discount Times - the system automatically cuts off the discount rates at the occupancy levels established and prevents reservationists from offering lower rates.

q Reservation Scripts for Employees – rate discounts are displayed and removed for reservation agents.

q Deposits Automatically Transferred - When the guest checks-in, the total advance deposit is automatically transferred from the advance deposit ledger to the in-house guest ledger

q Posting Charges to Guest Folios - Charges can be posted to guest folios or directly to house accounts at any time during the day.

q Adding Charges to Revenue Center Totals - All guest charges are automatically added to revenue center totals.

q Automatic Posting of Room & Tax - The system can automatically post room and tax.

q Guests Over Credit Limit Report - Each guest (and share-with) can be assigned a credit limit.

q Quick Checkout - Guests are checked-out quickly and efficiently. Folios can be printed before, during, or after checkout.

q Cashier Balancing Reports - Every transaction is automatically stamped with the employee's initials, ensuring accurate cash drawer balancing and providing a fraud and theft deterrent.

q Guest Folios Stored Forever - Every transaction on every guest folio is stored forever, limited only by available disk space.

q Call Accounting - Automatically posts phone charges to the guest folio with no operator required.

q Phone Actuator - Interface your phone switch to turn phones on at check-in and off at checkout.

q Voice Mail Activation - Turn voice mail on at check-in and off at checkout.

q Maid-Phone (Housekeeping) - Change housekeeping status from the guest room.

q Point of Sale - Automatically post charges to the guest folio from a restaurant, bar, gift shop, etc.

q In Room Movie - Posts charges from various in room movie systems to the guest folio.

q Share-With Capabilities – Special accommodations for two or more guests in the same room.

q Environmental Controls - Interfaces the system to various environmental control systems to turn on / off the heat, lights, and other devices upon check-in/checkout.

q Short Term and/or Long Term Rental - The Condominium Owner Module is designed for short-term rentals, long-term rentals, or a combination of both.

q 500 Direct Charges per Owner - The system automatically transfers gross reservation revenue and the management commission to the owner statement.

q Automatic Billing of Recurring Charges - The system automatically bills owners for recurring charges.

q Various Billing Cycles -Owner statements can be printed once a week, once a month, every two months, once a quarter, etc.

q Split Revenue Across Months - The system can split room revenue from the same reservation across two or more months.

q Hold Checks on Account - if the owner has more expenses than revenue, the system tracks this as an open receivable. An owner's check may be held "on account" to offset future expenses.

q Fast Production of Owner Statements - owner statement production savings alone justifies purchasing a system.

q MTD & YTD Recap per Owner - The system produces a month-to-date and a year-to-date recap report per owner as part of the owner statement process.

q Statements Re-Printed Forever - Owner statements can be re-printed for any past month or billing cycle - forever.

q Trust Accounting & Owner History - A different trust amount can be held for each owner.

q Automatic Interface to General Ledger - All transactions related to owners, including reservations, management commission, direct charges, checks, etc. are automatically totaled in the integrated general ledger.

q Accounts Receivable with Aging - If the owner statement calculation produces a balance due to the management company, CCS creates an owner accounts receivable.

q IRS 1099 Reports & Magnetic Media - The system automatically generates IRS 1099 reports at year-end.

q Print Overdue Letters Automatically - A standard letter can be written one time and the system inserts the name and address of each owner.

q E-mail to Owners - The system can generate e-mail to one or all owners.

q Fixed Week/Floating/Combinations - designed for fixed week, floating week, quartershare, eightshare, and a wide variety of other ownership situations.

q Autoload Owner Reservations - The system automatically loads reservations for fixed week owners up to four years in the future based on the published interval ownership calendar.

q Rental of Owner Time - includes the ability for management to rent all or part of the owner's time, regardless of whether or not the owner is fixed week, floating week, or any other rental type.

q Timeshare Exchange Support - designed for exchange time reservations.

q Owner Bonus Time - provides various reports to track owner usage by regular time, bonus time, exchange time, and/or rental time.

q Owner Balance Due & Reservations - Each owner's balance due is displayed when making an owner reservation and during check-in; ensuring the owner is paid in full. These checks help to guard against delinquent owners using the facility.

q Track Available Weeks to Sell -The system tracks available weeks left to sell and any weeks (or time periods) available for resale.

q Owner Dues & Receivables - Supports multiple owners, each with different yearly or monthly dues.

q Over One Million Travel Agents by IATA Number - The system can store over one million travel agents using their unique eight-character IATA number.

q Travel Agent Search and Display - make new reservations while the guest, travel agent or wholesaler is on the phone. I

q Pre-Deduct or Non-Deduct Travel Agents - Travel agents reservations are entered as pre-deduct or non-deduct.

q Agent Commissions Hidden from Guests - A pre-deducted travel agent commission is always hidden from the guest.

q Net Rate Agents and Wholesalers - Allows for net rate travel agents with unique rates as opposed to percentage commissions.

q Revenue Produced by Agent - Increase operation profits through direct marketing. The system tracks total revenue by travel agent.

q Internet Reservation Module Access - Offers the optional Internet Reservation Module to provide 24 hour a day, 365 day/year access for travel agent and wholesalers. With a proper password, Agents or wholesalers can make reservations directly on your system, from any workstation connected to the Internet, anywhere in the world.

q Group Itinerary - Many customers have extensive group business requiring activity scheduling.

q Concierge & Guest Services - The concierge or guest services department frequently uses a guest itinerary module.

q Tour Operators - Properties that schedule activities during the reservation process find guest itineraries essential.

q Various Types of Activities – An Itinerary is defined as the schedule of activities for a given guest or group. A wide variety of activities are possible, including:

q Free Unscheduled Activities - such as "use of the pool and spa". These items are usually included on the guest itinerary which is sent with the confirmation letter for marketing purposes.

q Free Scheduled Activities - such as "tennis on Monday from 9:00-11:00". No surcharge is calculated for this activity, but it does appear on the guest's confirmation itinerary.

q Activities Included with the Package - For example, a package that includes breakfast can generate an activity on the itinerary that reads, "Breakfast 7-9 Am Daily".

q Calculated Charged Activities - The itinerary module can calculate the cost of an activity, and the cost can be different for every vendor for each vendor season. This is a very powerful feature and is detailed on the following page.

q Itinerary Detail on Guest Confirmation - Generates a confirmation letter to the guest which can be mailed, sent as e-mail, or faxed.

q Surcharge Calculation - The Itinerary module is integrated with the package system, guest confirmation, and guest folio.

q Complete Activity Description - Each activity includes a description. Fields available for each activity may include:

§ Date, Start & Stop Time

§ Total Cost

§ Tracking by Ticket #

§ Confirmation # & Date

§ Confirmed By/Date

§ Entered By/Date

§ Changed By Tracking

§ Vendor Name

§ Vendor Contact

§ 17 Remark Fields

§ Tracking Number

q Charge Guest Folio for Any Activity - Some guest activities are free, or included with the package. Activities that are not free automatically appear on the guest folio.

q Print Coupons for Each Activity - Many activities require the guest to present a coupon ("ticket" or "voucher") for admittance. Coupon features may include:

q Vendor Coupons - Reconcile coupons on a per vendor basis

q Schedules for Vendors - A list of activities for a particular guest or group is called an Itinerary. A list of activities for a particular vendor is called a schedule. Features for schedules include:

§ Display for one or multiple vendors.

§ Sort schedules.

§ Change display.

§ Future reservation schedules.

§ Past schedules.

q Moving Wait List Reservations to "Real" Reservations - One of the primary goals of a Wait List is to move the guest to a "real" room, when one becomes available.

q Adding Wait List Reservations to E-Mail List - Wait list reservations are automatically added to the guest database, which captures the guests mailing address and e-mail Address. The system can then send mass e-mails to all guests for marketing purposes.

q Web - Wait List Features - includes wait list features for the Web.

q Web - Reservation Denial Tracking - Denial tracking allows internal reservationists to determine why a guest did not book a room.