Rental management

Automate your rental management procedures

Based on the NETiKA RI lease repository in ‘accounting’ mode, this module automates your rental management procedures for leases taken and granted (whether external or internal, potentially based on standard rates).

Complete lease life cycle management, critical dates, extensions, renewals, amendments, terminations, etc.

The rental management module covers all business line processes regardless of your situation: owner, occupant or representative. It also enables simultaneous management of several points of view and, if required, the creation of reciprocal accounting entries in two separate sets of books.

Invoiced sections of all types, both indexed and non-indexed, variable tied to turnover, to a percentage and based on a pricing table. Sub-module to create formulas for calculating amounts: unlimited, fully configurable change formulas.

It contains a powerful simulation tool to calculate rents, provisions and charge adjustments. Ordered processing if required. Organisation of processing by lease context, management console, precise error identification, exception handling, etc.

The many reports available provide calculation consistency control.

Accounting sub-module for movements in the integrated ancillary accounting module or directly in the target ancillary accounting process of the client’s IS:

• Generation of a sales invoice flow
• Generation of a flow of orders received and, if required, a flow of purchase invoices for leases taken under self-invoicing.

Sub-module for monitoring the purchase invoices of leases taken out: when a difference is noticed between the invoice received and the amounts calculated by NETiKA RI, an approval process is activated to ask the rental manager to determine the source of the difference. It can be an error by the lessor, partial approval and request for a credit, or an internal error, correction of descriptions, recalculation and invoice approval.

Lease budgeting sub-module to simulate changes in rents over the next x years, use of about thirty parameters, simulation of a number of assumptions, comparisons, business plan selection, calculation of off-balance sheet commitments, etc

Optimise the allocation of charges

The rental management module includes a complete charge management module:

• Immediate re-invoicing without provision or provision and adjustment of charges
• A number of percentage tables, partially recoverable charges, charges based on meter consumption, owner charges, private charges, etc.
• Periodic provisions such as leases and budget provisions
• Fixed and capped charges, exclusion handling, etc.
• Detailed owner charges
• Invoice appendixes with several levels of detail.
• Complete VAT management, inclusion of co-contracting in Belgium, etc.

Leasing

Easily manage your leases and leases taken out.

• Combine leases in programmes
• Manage the amortisation schedule with land/construction/IGT differentiation
• Import lessor description flows
• Lease life cycle and events management (amendments, complete or partial removal of purchase options, termination, programme exit, addition to the programme)
• Database of rates adjusted periodically and input of forecast rates, management of different types of rate applications (Guaranteed fixed rate, Referenced fixed rate, Variable rate, Compound rate)
• Different types of interest calculations (ITE,IPA,ITA)
• Posting and cash schedules
• Periodic import /reconciliation of invoices with a forecast/invoiced comparison and management of differences
• Control reports and financial reporting
• Management of deferred payments with a strong impact on accounting and cash flows
• Creation of amortisation accounting flows
• Accounting:
  • IAS 17 accounting requalification
  • Periodic FRGAAP and IFRS accounting
  • Off-balance sheet accounting

IFRS accounting

The rental management module is IFRS compatible, for example, for the breakdown of excesses and departure penalties.

The IFRS16 standard on long-term rentals will be correctly handled in NETiKA RI as of 1 January 2018.

Decision reporting

Many indicators are calculated in real time (vacancy, price/m², occupancy density, etc.) to help managers pilot their activities.