How To: Setup Owner Percentages

IDEAS Property Clerk Enterprise includes features that allow you to create special charges based upon the ownership % for each client. This feature was specifically designed for Condominium Management for creating Special Assessment Charges, however, many clients have used this feature to create other types of charges based upon a specified percentage.

The square footage could be converted to a % of total rental space and then this could be used to create CAM charges and other % based charges. Note: You must manually determine the initial % for each client and then add it to the system.

What is a Special Assessment?

A special assessment is a charge incurred for the property for which Invoices are issued to clients to pay for the charge. Usually these are costs incurred for renovations or improvements. Common renovations and improvements include roof reparations, pavement, curbs, gutters, streetlights, and driveways.

Before a Special Assessment may be issued to any client, that client must have an "Ownership%" note on file. If the Client does not have a note set up, they will not be available in the Special Assessments module.

To create an Ownership % note for a Property Owner (This only needs to be done once)

1.	Add a new note to the Clients file.

For more information on adding a Client Note follow the steps as described in the Client Notes and Tasks section of the help to create a Client Note.

2.	Set the category of the note to "Ownership%".

If the category "Ownership%" does not exist, it may be created by adding the lookup item to the Appointment/Notes Categories lookup table. For more information on add new lookup items to a lookup table, refer to the Adding Lookup Items section of this help.

3.	In the subject line for the note type in the percentage that the property owner will be expected to contribute to the renovations or improvements. For example: Enter 20 for a 20% ownership, do not enter .20.

4.	Save the note to the Clients File.