Property Management

Property Management software addresses the maintenance of property, lease and charges maintenance, generation of rent and service invoices and the recharge of services. Lerryn offers Prospero Property Management Software that directly links to Pegasus Opera II. In particular, Prospero links to sales (tenant), purchase and nominal ledgers, cash book and payroll.

In addition, changes in the accounting figures can be dynamically reflected using the Pegasus XRL module, particularly useful for management and project accounting.

Prospero is available in three distinct modules which are detailed below. Prospero and Pegasus Opera II provide a single, flexible and powerful business-wide system, which can be tailored to suit. Please download further information from our download section or click here to book a demonstration.

Rent Management

The Rent Management module comprises of:

   • Set up and maintenance of property details
   • Set up and maintenance of tenant details
   • Set up and maintenance of lease details
   • Set up of routine charges for rent, insurance etc
   • Facilities for departmental/property group processing
   • Generation of invoices and update of tenant ledger
   • Meter readings and charging
   • Diary date reporting eg for rent reviews, painting
   • Property revenue history and general reporting

Invoices are generated as frequently as required for a specific period. All or a selection of leases, properties and departments can be processed. An audit trail without generation allows figures to be checked. The types of charge raised are defined by the user but will typically include rent, insurance and services. The process supports the Opera II account + cost centre facilities if relevant, allowing separate department or property group accounting within the nominal ledger. Flexible invoicing allows different document layouts and content.

Finally, document management facilities provide for letter and document generation in Word and a register of relevant documents such as rent agreements and floor plans.

Diary Dates

Diary date names can be set up for properties and leases and these feed the diary date reporting procedure. Typically, rent reviews, lease expiries, insurance renewals, painting schedules and gas or electricity appliance testing would feature here.

In addition to standard dates such as rent reviews, lease expiries and insurance renewals, user defined diary date names can be set up for properties and leases, for example for painting schedules and gas or electricity appliance testing.

These dates are the basis for the diary date management feature, allowing a report of upcoming actions to be reported and memos to be generated into the diary for the individual responsible.

To these memos can be added separate items to represent other actions such as maintenance requests or breakdowns.

Accessing the memos via the diary allows them to be progressed – multiple actions per memo are possible to reflect the various events that may take place in completing the task. This is a powerful administrative facility, which is additional to the notes facility on tenant accounts, provided in Opera II.

Document management facilities provide for letter and document generation in Word – typical examples might be rent review correspondence or draft rental agreements – these being recorded in a register.

Other externally generated documents such as signed rent agreements and floor plans can also be registered.

Service Management

The Rent Management module allows service charges to be set up and invoiced in the same way as for rent. To achieve this, a separate record of service costs and tenant responsibilities would need to be maintained. The Services Management module takes over the role of recording costs, setting parameters for allocation and generating appropriate recharges into the Rent Management invoicing routine.

The Services Management module comprises of:

   • Purchase invoice processing
   • Allocation of purchase invoice costs to properties
   • Recharge profiles to specify tenant responsibilities for service
      charges, percentage liability and maximum allocation
   • Trial allocation run
   • Generation of recharges
   • Invoicing of recharged service costs
   • Property history of purchase invoices and recharges added to
      revenue history from Rent Management module
   • Audit trail of allocated costs

Charges are generated as frequently as required for a specific period. All or a selection of leases and properties can be processed.
 
The invoicing run takes these recharges along with routine charges such as rent – see the Rent Management flyer for a description of this process.

Please contact us to arrange a demonstration or see our downloads section for factsheets.