How do I register a management agreement with a property owner?

The management agreement defines your relationship with the owner: what you take as commission, what you deduct as expenses, and what you remit to them. The monthly owner settlement is built from it.

Steps

1. Register the owner first from Property Rental → Property owners if they are not already there.
2. Open Management agreements — Figure 1 — and add a new agreement.
3. Pick the owner and the building the agreement covers.
4. Set the office commission rate on collections, and the start and end dates.
5. Save. From that point the collections of this building’s units appear in Owner accounts and settlements.

What does the agreement actually do?

When you prepare an owner settlement, the system takes the gross collections for the period, deducts the office commission at the agreed rate, the building expenses charged to the owner and the maintenance deductions, and what remains is the net payable to the owner.

Notes

• Do not start renting before the agreement is recorded; an undocumented commission is a deferred argument with the owner.
• One owner may hold several buildings at different rates, so the agreement is recorded per building.
• Review the end date well before it lapses; renewing an agreement is easier than winning back an owner who moved to another office.