Rent, AR & Collections (36)
about 154,472 hrs/yr
- Monthly rent charge posting (Daily / Monthly, about 5,375 hrs/yr) On the first of the month, rent and scheduled recurring charges post to every resident ledger, after checking lease changes, move-ins, move-outs, and transfers so nobody is billed wrong.
- Recurring charge posting (Daily / Monthly, about 5,375 hrs/yr) Recurring charges beyond base rent (parking, storage, pet rent, trash, amenity fees, renters insurance) post each cycle from lease schedules and addenda, respecting every start and end date.
- Utility charge posting (Daily / Monthly, about 5,375 hrs/yr) Utility charge posting bills residents for submetered or allocated water, sewer, trash, gas, and electric, using meter reads or ratio billing formulas based on occupants or square footage.
- CAM/other recurring charge posting (Daily / Monthly, about 5,375 hrs/yr) For commercial and mixed-use tenants, estimated CAM, tax, insurance, and other recurring charges post monthly from each lease's estimate schedule alongside base rent.
- Resident payment import (Daily / Monthly, about 5,375 hrs/yr) Payment import brings online, ACH, and card payments from the payment processor into resident ledgers every day and applies each one to the correct open charges.
- Lockbox import (Daily / Monthly, about 5,375 hrs/yr) Lockbox import loads the bank's file of scanned resident checks and images, matches each check to a resident by account code or name, and posts the deposit to the right ledgers.
- Cash/check receipt (Daily / Monthly, about 5,375 hrs/yr) Office receipts of checks and money orders are logged, posted to resident ledgers, deposited by remote deposit capture or at the bank, and reconciled to the deposit slip.
- Payment reversal (Daily / Monthly, about 5,375 hrs/yr) Payment reversal undoes a posted payment that was misapplied, duplicated, or refunded, restoring the charges it paid and recording the reason on the ledger.
- NSF processing (Daily / Monthly, about 5,375 hrs/yr) NSF processing reverses a returned payment, charges the returned payment fee, notifies the resident, and may require certified funds after repeated returns, as the lease and state rules allow.
- Late fee calculation (Daily / Monthly, about 5,375 hrs/yr) Late fees are assessed after the grace period on unpaid rent, using the lease formula (flat, percentage, or daily) and never exceeding any state cap on late fee amounts.
- Late fee waiver approval (Daily / Monthly, about 5,375 hrs/yr) A first late payment, a bank error, or a hardship can prompt a request to waive a late fee, which is weighed against the resident's payment history before a manager decides.
- Delinquency report (Daily / Monthly, about 5,375 hrs/yr) The delinquency report lists every resident with an unpaid balance, amounts by aging bucket, last payment, payment plan status, and actions taken, for the property manager's collection work.
- Collections prioritization (Daily / Monthly, about 5,375 hrs/yr) Prioritization ranks delinquent accounts by amount, age, payment history, and legal status so staff call the accounts most likely to pay, or most at risk, first.
- Resident delinquency outreach (Daily / Monthly, about 5,375 hrs/yr) Delinquency outreach contacts residents with past-due rent by SMS, email, phone, and letter on a set schedule, offering payment links and plan options within fair collection rules.
- Payment plan monitoring (Daily / Monthly, about 5,375 hrs/yr) Plan monitoring checks each installment against its due date, confirms current rent is also paid, and flags any missed installment under the agreement's default terms.
- Promise-to-pay tracking (Daily / Monthly, about 5,375 hrs/yr) Promise tracking records a resident's commitment to pay a stated amount by a stated date, then checks whether the payment arrived and follows up when it did not.
- Rent concession posting (Daily / Monthly, about 5,375 hrs/yr) Concession posting credits approved specials to resident ledgers, upfront, spread across the lease, or in specific months, coded to the concession GL account.
- Rent credit adjustment (Daily / Monthly, about 5,375 hrs/yr) Service outages, billing errors, or goodwill can justify reducing a resident balance.
- Charge correction (Daily / Monthly, about 5,375 hrs/yr) Charge correction reverses and reposts wrong charges (wrong amount, code, date, or unit) so resident ledgers and revenue accounts are both right.
- Write-off approval (Daily / Monthly, about 5,375 hrs/yr) Write-off approval decides which uncollectible former-resident balances leave AR after collection efforts, based on age, amount, and collection agency status.
- Bad debt posting (Daily / Monthly, about 5,375 hrs/yr) Bad debt posting writes approved balances off to bad debt expense, records the reason, and keeps each account open for tracking collection agency recoveries.
- Collection agency placement (Daily / Monthly, about 5,375 hrs/yr) Agency placement sends approved accounts to the collection agency with the final statement, lease, ledger, and last known contact details, and records the placement date.
- Eviction file preparation (Daily / Monthly, about 5,375 hrs/yr) Before an attorney can file, the eviction file needs the lease, ledger, notices served, proof of service, and the correspondence the jurisdiction requires.
- Demand notice generation (Daily / Monthly, about 5,375 hrs/yr) Demand notices, such as pay-or-quit notices, state the amount owed and the cure period state law requires, and must be served properly before any eviction filing.
- Attorney referral (Daily / Monthly, about 5,375 hrs/yr) Attorney referral sends an eviction or collection matter to outside counsel with the complete file, the ledger, and the manager's instructions, and records the referral date.
- Court status tracking (Daily / Monthly, about 5,375 hrs/yr) Court tracking follows each eviction case through filing, hearing, judgment, and writ, recording dates from the court website and updates from the attorney.
- Judgment/payment tracking (Daily / Monthly, about 5,375 hrs/yr) Judgment tracking records money judgments from eviction or collection cases, payments received afterward, and whether the resident vacated, keeping balances and agency placements accurate.
- Housing assistance payment posting (Daily / Monthly, about 5,375 hrs/yr) Assistance payment posting applies monthly subsidy payments from housing authorities to the subsidized portion of each resident's rent, working from the authority's remittance list.
- Online payment settlement reconciliation (Daily / Weekly, about 546 hrs/yr) Settlement reconciliation matches daily deposits from the online payment provider to payment batches posted in the property system, accounting for processing fees, returns, and deposit timing.
- Unapplied cash review (Daily / Weekly, about 546 hrs/yr) Unapplied cash review finds payments posted without a matching charge or resident, along with prepayments and overpayments, and applies or refunds each one correctly.
- Resident ledger reconciliation (Daily / Weekly, about 546 hrs/yr) Ledger reconciliation confirms each resident ledger is right: charges match the lease, payments are applied, credits are documented, and total receivables tie to the general ledger.
- Deposit ledger reconciliation (Daily / Weekly, about 546 hrs/yr) Deposits held for each resident must tie to the deposit liability account and to the deposit bank account, and any difference between the three is investigated.
- Subsidy receivable reconciliation (Daily / Weekly, about 546 hrs/yr) Subsidy reconciliation compares expected assistance payments by resident with amounts received, finding short payments, abatements, and residents missing from the remittance.
- AR aging review (Daily / Weekly, about 546 hrs/yr) AR aging review examines receivables by bucket and property, looking for credit balances, stale balances, and items that should be written off or reclassified.
- Monthly rent roll review (Daily / Weekly, about 546 hrs/yr) At month end, the rent roll's occupancy, market and lease rents, vacancies, and expiration dates are checked against leases and reconciled to GL rental revenue.
- Payment plan setup (Per event / project, about 150 hrs/yr) A resident who cannot clear a past-due balance at once may sign a payment plan setting installment dates, amounts, and what happens if an installment is missed.