Real Estate Module

Property:-

The system users can record all the properties they own. This feature will allow the users to capture general details (Cost of property, Number of Units it holds, etc.). It will also allow capturing its pictures.

Units:- 

The system users can record all information about units contained in that property. is feature will allow the users to capture general details about the Unit (No. of rooms in the team, the purpose of use, cost of the unit, etc.) It will also allow capturing its pictures. An example of a unit may include- Flat in a building.

Tenants Information:- 

The system users can record all information about their tenants. I include personal details, the accounting activities they have performed (Ex. Repayments), Contract status, contract expiry date, and much more.

Creation of Contract Quotation:- 

Users can create the quotations for their The quotation will capture the information such as personal details of the customer, the unit that is being allocated for the customer, and rent evaluation information for that customer, etc.

Contracts:

Automatic contract creation-

 Once the Quotation is approved, it will be converted into a lease. The user needs a final contract which is a document that acts as a rental agreement between the landlord and the tenant. The system allows creating the automatically.

When the user makes a new contract, the fields of the form are auto-filled, and the data is fetched with the information that was entered at the time of the creation of the quotation.

Cancel Contract-

 The system gives the privilege to cancel the Contract for that particular tenant. The cancellation of the Contract can be made within a limited period.

Renew Contract- 

The contracts can be renewed after the expiry date or even before expiry. No n ed to wait for the expiry date. When the user renews the Contract for that particular tenant, the basic information will be read from their previous Contract and the

 system will also give the privilege to increase or decrease the rent.

Pre terminate Contract- 

The users of the system can Pre Terminate the Contract for that tenant. This means that the tenant that gets Pre-terminated their Contract will get a refund on the remaining period of the Contract. The s stem will automatically calculate the amount and debit it to the tenant.

Release Contract- 

The user can terminate the Contract whenever the tenant wishes to leave. This feature will not provide a refund of their rent, although it will just refund their security deposit. 

Collect payments-

Users can record the financial data from the business. Users can record the payments done by the tenants. These count receivables are then updated to QuickBooks to record the company's financial transactions. The system can process the following payment modes:

• Cash
• Cheque- The system can accommodate all types of cheques.

This includes: Post-dated cheques (PDC), or Current dated

1. When a user creates a contract, all the payment transactions are automatically done by the system. For instance, if the cheque by the tenant is of Current dated, then the system will automatically transfer it to the bank, or if the cheque is Post-dated, the system will perform revised entries on that due date. The system can also receive and manage a group of cheques. For a  real Estate business, it becomes very easy to manage payments as they are performed automatically.

• Both

 Notice-

The users of the system can also create a notice to convey across a message to their tenants Maintenance- Users can also create maintenance requests for the tenants

Menu Items of Different Features from the Real Estate Module

The Real Estate Module in Hinawi Software provides various reports that the user can generate. The feature reads all the data from the system and allows to creation of a customized report.   After the report is generated, the user also has the privilege to export it to excel for further use. 

• Detailed report for Properties list, units list, and tenants list.
• Detailed report for all contracts and status with filter option.
• Detail report for units status: Paid, unpaid, occupied, vacant, under maintenance, and more.
• Income and differed income.
• Collections of current and post-dated cheques received.
• Maintenance reports with filter.
• Loss of vacant units.
• Security deposits.
• SMS Services.
• And more.

Note:

All reports can be exported to excel. 

Settings are the most potent and important module. It all ws you to set your own rules and requirements according to your company policy. Our so aware is customizable for any business as per their requirement. We have flexible settings for each module separately.

The software has a pre-defined setup for each module as a regular practice of companies which allows the user to start using the program quickly. This module has a checklist that gauges the control of users over function. If set p posting control window, the system will not allow the user to save the task unless they follow the procedure set by the admin.

The followings are examples for Real Estate module Settings:-

• When creating or renewing the contract system, check the pre-setup rules like the validity of documents: passport expiry, residence visa or national ID …etc.
• When renewing, the contract system will check if any pending amounts on the tenant have not yet been paid or if the last Contract has not been paid entirely.
• In setup, the system will not refund the security deposit to the tenant if the Contract is not fully paid or the maintenance amount is not paid.
• Setup to post the income monthly, yearly, or on a one-time basis.
• Set pre-defined income, deferred income, Cheques Under Collections, Cash, and security deposits.
• Set to calculate the other charges like parking for the contract period or annually.
• Set how many days are allowed before renewing, canceling, or pre-terminating the Contract.
• And more.

Because the Real Estate department needs to print all entries in the system like Contract, Receipt Voucher, Invoice, Notice…etc., we created an option to let the user build his own forms for printing without any additional charges. Aside f this, we prepared pre-define templates for all activities to save the user's time.

The real Estate module is linked with other modules:-

In HRMS Module:

When a company has its building for its staff, the system can link the unit with employee reading from the Real Estate module. This link is in the Employee profile. The system will calculate the monthly rent and add it to the employee's actual costing report.

In Accounting Module:-

When creating a job order for maintenance of the building, the system will read the inventory and services from the accounting module. All ac activities in real estate are affected in accounting.

In Fixed Assets module:-

The Property list can be converted to Fixed Assets. So will not enter the property name twice.

Integrated with QuickBooks Accounting

The admin user can do internal control by the followings:-

Set Posting controls window located under File Menu >> Company Level of access located under File Menu >> Company. Admin user can allow the user to create transactions but not edit. Or to approve but not pay. Or to read reports only….etc.

By default, the user can't change the transactions when approved.

User activity report located under-report menu is reading every change on each transaction with date and time.

Reminder for all Contract expiry, Cheques Under Collections (CUC), tenants' passports and visa expiry date. Company trade license expiry date.

All options above add more flexibility to Admin users to build the company policy. The Ad in user is the decision-maker to construct the company needs without any additional charges from Hinawi. The migration modules save a lot of time.

Importing option helps users to start immediately using Hinawi Software. Users don't need to wait months or years to run the software.