Lease Management

Property Management is an ever changing industry. In good markets the property manager has the ability to lay out the terms of the lease per their requirements. In recessed markets the property manager needs to have the flexibility to negotiate and work with clients to creatively meet their needs. It is this flexibility that Colonial Systems has inherently built into its property management software.

Operating Expense Billing
Colonial Property Management provides the ability to calculate and bill tenants actual expenses incurred. The operating expense billing can be processed as often necessary.
The operating expense billing and CAM reconciliation features work hand in hand to cover all the nuances in your leases. On a tenant by tenant basis and expense by expense basis you can specify exactly how each charge is to be handled.

CAM Reconciliation
Handling common area maintenance charges is an important and often complex part of property management. Colonial Property Management has the power and flexibility to handle your needs.
The software allows you to setup the budgeted amount to be billed to your tenants. As expenses are incurred that are to be applied back to tenants we track them directly from the accounts payable invoice entry. Typically the invoices are applied on a pro-rata share of square footage each tenant occupies. The system does allow for exceptions to the norm. At year end the system prepares a reconciliation for each tenant detailing actual costs vs. expense limits or base amounts.

Property Budgeting
Creating property budgets is an imperative process for successful property management companies. It is also one of the most time consuming and frustrating processes the property manager performs. Colonial Systems has worked closely with our customers to develop an integrated budgeting process that significantly cuts down the amount of time and effort required to create budgets.
The budgeting process examines the committed leases to produce an initial revenue budget. The property manager can modify the budget and add any assumptions as necessary. To create an expense budget or review past expense history to calculate an initial budget and allow the property manager to make any necessary changes. Of course simple items such as inflation multipliers included.
Budgets can be done many years in advance. Multiple revisions can be stored per year. This is a necessity in any property management system.

Multi-Property/Consolidated Reporting
Multi-Property functionality allows for processing to be entered from a single location in the software to affect multiple properties. An example may be entering accounts payable invoices or posting rents. Multi-Property Reporting allows you to run a report and select from a menu what properties to run the report for. If six properties are selected, six reports are generated. Consolidated Reporting is slightly different and is especially useful when producing financial statements. Consolidated Reporting takes the information from all properties selected and combines them into a single report.

Property Management Reporting
Colonial Property Management is ODBC Compliant so of course you can create as many custom reports as you want with your favorite report writer (Crystal, Access etc.). But there are over 50 standard reports in the Property Management module alone, including:

Rent Rolls Rent Projections
Expiration Reports Insurance Expirations
Lease Abstracts Straight Line Rent Adjustments
Lease Options
And Many More!!!

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