Comprehensive management of the tenancy process

Based on the ColDis platform, the Lease Management Tool system covers the support and automation of processes occurring between tenants and property managers. The implementation of these tasks has been divided into two phases and each of them has functions designed to facilitate the whole process.

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The registration of tenancy contracts

The Lease Management Tool allows users to create and register electronic counterparts of contracts signed between the tenants of a premises and the manager or owner of the given property. Adding and managing a wide range of data is both easy and user-friendly. Some of the features provided by the tool include:

  • Recording basic contract information (e.g. date of beginning, period of validity, area of business etc.).
  • entering information concerning security deposits (documents) together with dates of their expiry (with the ability to attach original scans of a security document to each contract, as well as documents related to banking securities, deposit confirmations, notarial deeds and insurance policies). The system allows the attachment of different file formats, including the popular PDF and DOCX.
  • Recording the turnover of a premesis, with the capacity to import data regarding turnovers for entire groups of tenancy contracts through the use of a simple XLS template.
  • registration of information pertaining to an area in a given contract, its type (it is possible to enter a given area according to the content of a contract).
  • entering data concerning encumbrances calculated on a contract (rental fee, utilities), their type, periodicity, information about valorisation, parametrisation of a given encumbrance (currency, unit of measure, period of calculation, and method of settlement, e.g. per m2 value per month).
  • Introducing various types of discounts: percentage-based, related to value or unit price, with the ability to select the period for which they should be assigned. The system provides the ability to register step rents.

Even after the registration is complete, the entered data can be modified according to any changes in the contract conditions. For a single category, it is possible to introduce different types of data – e.g. a different settlement period or method of invoicing. Such a solution allows for the efficient management of contracts that have been formulated in different ways.

 

Image 1. Lease Management Tool – view of the panel for entering data concerning tenant – manager contracts

The generation of encumbrances and tenant invoicing

Entering the maximum amount of data regarding the tenant contract and the contracting of equipment assigned to the premises (meters of electricity, water, processing water) creates the ability to easily finalise tenant settlements and issue system sales documents.

The model invoicing process involves calculating charges based on meter readings, and then generating and shipping billing documents to tenants. However, because settlements are often based on additional financial factors (discounts, fixed fees vs fees per m2), the Lease Management Tool allows for the flexible management of settlements through:

  • the generation of invoices for a single encumbrance or a group of encumbrances (e.g. separate invoices for each utility, or an aggregate invoice) depending on the needs of a tenants
  • an ability to exclude a group of tenants from invoicing for a given period (e.g. renovations of a premise)
  • functions to generate annotations for particular documents on the basis of statutory interests or penalty interests introduced in tenancy contracts
  • the automatic generation of invoice corrections for a specified time-period after introducing changes to the contract
  • the modification and personalisation of invoice templates (descriptions on invoices, headers, footers, bank accounts, or even adding season’s greetings)

The Lease Management Tool undertakes a multi-stage process of document acceptance. By establishing and introducing a chain of employees that verify and approve documents (with different levels of access and authorisation per person), the percentage of errors is reduced to a minimum. Final acceptance of a document involves the registration of an invoice that is subsequently sent to the tenant. This, however, is not the end of document circulation, the ColDis platform allows for the integration of a financial accounting system to the Lease Management Tool, to which documents can be sent as the next step in the process.

The functionality of the Lease Management Tool has been highly valued by many companies in the real estate business. The system covers nearly 500 000 m2 of commercial space, and supports settlement processes at commercial/services centres, office spaces, hotels and exhibition areas. The solution is used by clients from different parts of Poland, e.g. Gdynia Waterfront I hotel, the Warsaw-based Centrum Skorosze, Family Point Wrocław shopping centre, as well as Business Garden Warszawa I and II (which offers office and services space) and finally, Europe’s biggest centre of trade and fashion – Ptak Fashion City – managed by three separate companies. 

 To learn more, visit our ColDis website

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