Owners & Properties Terms/Definitions

Alexander Patterson
Updated January 04, 2019 20:50

Properties & Owners
1. Properties - what Owners own.
  1. Contacts - are people associated with the property.
    1. Primary owner
      1. Displayed in the Contacts card and also the top right of the property page.
      2. One primary owner on each property.
      3. This contact can receive communications through Send Message, invoices/statements, mailing labels, etc.
      4. Primary email address is used for registering and access the property's Owner Access page.
    2. Secondary owners
      1. If there is a secondary owner of this home, you may enter it here.
        Ideally, this would be used for an owner situation where a home is
        owned by two individuals who are NOT husband and wife or where the spouse has a different last name.
      2. Does not receive letters, emails, statements.
    3. Renters
      1. You can track renter names and contact information.
      2. Do not receive communications.
    4. Visitors
      1. You can record visitors to the property.
      2. Typically used by a front desk or gate security.
    5. Previous Owners
      1. Owners that previously owned the property.
      2. Previous owners are the result of an owner resale.
    6. How to add contacts
      1. On the property page, find the Contacts card. Then click "add" and select the type of owner you wish to add.
    7. Resale
      1. Use this if a home has been sold to another party.
      2. This function will move the current owner to a Previous Owner and prompt you to enter the name of the new Owner.
      3. How to step by step
  2. Recurring Charges
    1. Any recurring charges that are assigned to this property will display on the property page.
    2. Can be edited on this page.
  3. Property Info
    1. Account number
      1. This is a unique number used to identify this home.
      2. It can contain alpha letters and numbers with a max length of...
      3. You can use the Account # to search for the home.
      4. Owners may need the account number to register for online payments.
      5. Important for accepting lockbox payments.
    2. Lot Number
      1. This is a 2nd unique number that can be used to identify this home. It can contain alpha letters and numbers.
      2. It can be left blank if not needed
    3. Square Footage
      1. Generally, this is only used for Condominiums. The maintenance fee might be based on the Square Footage of each home. If so, you can set a Recurring Charge so that the Square Footage is used as the basis of calculating the charge to the homes.
      2. If not needed, you may
        leave it blank
    4. Assessed Value
      1. You can enter an assessment value here if needed. Some
        communities use a value from the legal documents or an assessed
        property tax value as the basis for calculating the maintenance fee
      2. If not needed, you may leave it blank.
    5. Owner Ratio
      1. If needed, enter the Ratio of Ownership here. If not needed, you may leave it blank.
      2. Generally, this is only used for Condominiums. It is the Ratio of
        Ownership, also called the Percentage of Ownership, of this home
        in the Condominium.
      3. The maintenance fee paid by each home might be based on the
        Ratio of Ownership.
    6. Collection Status
      1. This is a setting that can be posted through the Collection process, or edited/set on this page.
      2. Displays in the top right of the page.
    7. Hold Payment
      1. Checkmark the Hold Payment box if you wish to be warned not to
        accept payments from this owner when entering owner cash receipts.
      2. If the owner is in an attorney collection action, the attorney may instruct
        you not to accept any direct payments from the delinquent owner,
        check marking this box will help to prevent this.
      3. Prevents the owner from logging into their Owners Access page.
      4. The bank validation file will in include the hold pay flag
    8. Hold Delinquency Notice
      1. If an owner is delinquent and has been referred to an attorney for
        collection action, you can checkmark here to prevent TOPS from
        sending collection letters.
    9. Hold AR Statement
      1. Prevents Statements/Invoices from being generated for this property.
    10. Rental
      1. Set this to keep track of this property being a rental unit.
    11. Direct Debit
    12. Lot number - I need to find out how we describe this in TOPS [ONE]
  4. Address, email, phone
    1. This section displays the property address and the primary owner's contact information.
    2. You can edit the property address from this page, but not the primary owners' information. Go to the Owner's page for that.
  5. Attachment Gallery
    1. Attachments can be any document or digital image you wish to store for a property. It might be a picture of the home. Literally, it can be ANYTHING. Think of the Attachments like an electronic filing
      cabinet for information relating to each home.
  6. Activity
    1. Displays activity associated with the property such as charges, payments, communications, comments, work orders, and violations.
    2. What is the Activity Feed?
    3. Activity Feed Updates
  7. KPI
    1. At the top of the page, you'll find what we call KPI's.
    2. Info at a glance.
    3. Click one, it will flip over and reveal more detail.
    4. Balance - Click the balance KPI it will display the balance breakdown and an option to view the property's financial history.
2. Owners - Share some information with the property they own.
  1. Phone, Email, Address
  2. Comments
  3. Activity
  4. Attachment Gallery
    1. Attachments can be any document or digital image you wish to store for an owner.

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