Blocks of Flats (management of common areas) >
SYSTEM 505 was designed with block management very much in mind and is used by a substantial number of block management companies throughout the UK & the Republic of Ireland.
Portfolio Control
Routine jobs, such as rent demand production, collection of arrears, letters to tenants etc, are fully automated.
It provides more than 100 easily accessed information screens all carefully designed to provide you with clear and concise details regarding your portfolio and maintains a fully detailed event and transaction history which can be retained in the system for as long as may be required. There is a full security system enabling you to set individual access rights for each member of staff and the powerful Diary Module will give you full control over property repairs, notices, repairing obligations etc.
If required, facilities are also available to enable you to create your own database of information relating to your portfolio.
Service Charges
The comprehensive Service Charge Module will ensure that you can easily cope with even the most complicated lease provisions.
It contains extensive facilities for budgeting, reserve fund calculation, automatic calculation of service charge contributions and provides for full comparison of expenditures against budget.
Accounting
SYSTEM 505 also has a fully integrated multi-company accounting suite which enables automatic production of accounts to balance sheet level for each individual block, trial balances, bank statement reconcilliation etc. There is also provision for full profit and loss accounting including accruals, prepayments and depreciation.
It can calculate interest where applicable and has an extensive purchase ledger to facilitate supplier payments and provides for automatic printing of remittance advices and payments. It will operate with any number of different bank accounts and calculate VAT on rent and service charges where applicable.
Reporting
The programs provide an extensive array of easily understood reports to provide full information regarding your portfolio. A Report Generator is also provided to enable you to easily create your own reports and statements.
With many more features too numerous to mention SYSTEM 505 will give you full control over your portfolio.
