Management Type – Guaranteed Income

To set a property to 'Full Management' click on the 'Management' tab within the property record. A new window will appear. 

In this window, click on ‘New Owner’ to attach a Landlord, this will bring the ‘Ownership’ window up.

Click on the little box at the side of the Landlord field which will bring the contact list up, from here select the Landlord by click on the line once to highlight in blue and click ‘Select Contact’ – this will bring you back to the ‘Ownership’ window and will have prefixed the Landlord – click ‘Save’. 

You are now back to the ‘Property Ownership’ window, you now want to select ‘Guaranteed Inc’ from drop down list and make sure the following is filled in – 

Start & To Date: This is the date you started the agreement with the Landlord and due to finish.

Guaranteed Rent: The amount you are paying the Landlord each month.

Next Due: When the next payment is due to the Landlord.

Frequency: How often the Landlord is paid.

Rent Nominal: This is from '4000' range.

Rent VAT: '9' is non VATable - '1' if VATable.

Purchase Nominal: This is from '5000' range.

Purchase Nominal: '9' is non VATable - '1' if VATable.

Once all entered click 'Done' & 'Save & Exit' from the property record.

Now you need to set up management fee

Go to ‘Landlord’ module and click on ‘Landlord Invoice’ and a window will appear ('Post Transaction).

Enter details as above then ‘Post’ – this needs to be repeated each month To create a landlord statement, Landlord record needs to be set at ‘Individual Properties’

For more information PleaseSee Attached Document