PIRAMIDS serves every aspect of lease management
capturing all the essential information across the rental life cycle management.
Advertising is an art, capturing all the essential information and condensing it into a small snapshot to attract prospective tenants. Every unit is unique with its own features in terms of size and amenities. Rent Grid helps you track those special features, streamlining the process as you prepare your listing. This is enormously beneficial, as it consistently populates the same comprehensive information each time you advertise.
Rent Grid onboarding process is seamless with a smart move. Smart move performs a thorough search on a prospective tenant, including: SSN verification, bankruptcies, evictions, criminal offenders, sex offenders, global homeland, current residence, previous residence searches. All these searches are executed in one package, so you can rent with confidence.
The smart move provides instant credit results to landlords who requested screening. In addition, it gives an option to pass the credit check charges to the tenant or landlords can pay. Smart move directly shares the credit report to landlords which is viewable on your RentGrid portal.
The tenant onboarding and screening process needs to be performed rapidly; one day’s delay could result in an adverse decision from the tenant. Rent Grid online tools allow you to quickly gather inputs for smart contract creation and enables electronic signatures.
When the contract charges are dependent on variables, based on Usage, Rent Grid can gather usage and include in bills month over month upon consumption entries. In addition, it calls for additional charges and gives you the flexibility to charge whenever, and however, needed.
Property ownership comes with many responsibilities and needs an attentive management skill to plan, organize and execute needed tasks to protect assets. Regular maintenance helps you save on breakdowns and facilitates compliance with quality and safety standards.
Rent Grid helps you create and manage periodic inspections, maintenance and recording of repairs and improvements and provides historical references to help you with the information needed to manage the Property effectively.
In addition, you can tag the associated costs with a service request, tag a vendor, and track the budgeted vs. actual. You have an option to pass on the tenant breakouts as additional charges within rent grid.
Rent Grid document save features keeps you informed of the property condition at various time intervals. This information will be vital, as it allows you to compare today’s condition to one year ago, in case there is a dispute.
The best asset any business can build is its customers’ loyalty; the experience at the lease end makes the difference. Rent Grid assists you in making this a smooth, hassle-free experience.
Rent Grid generates the lease expiry list, helps you with early conversations and plans either the lease extension or tenant replacement. Time is money in rental management and this system will reduce the void gaps.
The moveout is completely integrated with finance and when the contract is closed, rent grid initiates moveout and deposit returns, captures moveout inspection charges, settles deposits and makes the final refund, all in one streamlined process
Eviction is never pleasant; it is a legal driven process, specific to each State. Make sure you consult with an attorney and confirm you have followed the mandated step by step procedure. Rent Grid helps you gather and save all the supporting documents needed to support the case, when used the system diligently.
Rent Grid manages the entire Procure to Pay (P2P) process on the cloud, soliciting Vendors, creating the Vendors, soliciting the estimated prices, approving the prices, creates purchase orders, sets budget limits for expenses, receives goods or services, enter bills and performs three way match. Further, rent grid maintains payment terms and generates payment proposal, initiates approval workflow and completes the payments and record payments, and settles vendor bills, all in one place.
Rent Grid provides various and complete expense reports based on Vendor or vendor group, by GL or Cost center, aging reports, transaction history, budget vs. actual reports.
General Ledger records assets, liabilities, revenues and expenses and includes the activities related to posting manual journal entries, recurring journal, foreign currency transactions, currency valuations, accruals and deferrals.
Rent Grid records each transaction with various business attributes such as Property, Units, Contracts, Customers, Unit type, Lease type, Vendor, and Service request. These attributes simplify your financial information analysis using the attributes like income by property, rent from specific Unit, Contracts rental income etc., throughout its journey.
This is an essential feature of rent grid and is a clear differentiator from competitors in providing valuable information reports by each attribute you select.
Rent Receivable Management
Rent Grid integrated with Contract management and receives all essential information from the Contract management, uses the contract, and usage charges as a base to create rental bills. In addition, it has a provision to create ad hoc bills like NSF, Collection charges, special customer service requests to add on to the monthly bill or generate as an ad hoc, if necessary.
Rent Grid enables R-pay, a portal enabled payment program with the best rates available in the industry to help accelerate collection payments, whether it is an echeck, ACH or Debit or Credit card, with an option to pass on the charges.
When the tenants choose to pay online, the system records the payment entries automatically, reducing the manual efforts on cash application. In addition, depending on the payment terms, this system can also send reminders and notices automatically.
The perquisite of being in real estate is the “Depreciation” opportunity to lower your tax burden by reducing your taxable income, often to negative, resulting in net loss to save taxes. The IRS has stringent rules in determining the deprecation for rental properties with the concept of Unit of Property.
Rent Grid has the capacity to create the Unit of property (UOP), and track the associated Costs throughout the asset life cycle. In addition, Rent Grid helps you track fixed assets and provides the ability to record the expense at Unit level. Recording depreciation at unit level helps in determining the Units’ profitability. The fixed asset sub-ledger is seamlessly integrated with the General Ledger and provides a quicker way to reconcile asset balances.
More often, the landlord’s long-term objective is to increase the number of rental units and add more value to property. This requires strategic planning and the optimal use of ‘assets and resources’ in the changing market conditions.
Below are typical budgets in real estate:
- Operational Budgets, typically reflects for a year, includes budgets for Repairs, Maintenance, and improvements for the year, and other Expenses planning at GL level.
- Capital Budgets (Reflects long term strategic plans for acquiring or improving assets)
Rent Grid Budget module focuses on how these assets and resources are distributed to individual areas of responsibility to meet the strategic objective and provides Budgeted vs Actual comparison for Cost Control and Cost management.
Cost Centers are used for internal management reporting as a tool to measure the multi- departmental costs and performance.
Rent Grid enables the tracking of Departmental costs and marries with the Operational information to provide better insights on Departmental performance.
Landlords buy different Properties under different legal entities to better protect the assets’ financial risk from one property to another, from legal disputes of one into another. This diversification of Properties into multi-companies helps in legal protection.
However, to measure the economic performance as a single unit of investment, you need to have tools to consolidate the results efficiently. Rent Grid Consolidations provides the Consolidation results with the ability to eliminate intercompany transactions and can also handle multi-currency translations.