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KEY Prime Property demands processing reports

To assist with swift processing of periodic demands, Key Prime Property includes 2 reports which can be produced and reviewed prior to running a periods rent demands, found within the Demands section.

For larger estates where there are numerous properties, the option to Auto Process Demands is likely to be switched on. This option saves the user accepting every single demand during processing, only requiring user intervention for demands that may need rolling over to the next period.

The recommended procedure is for one or both of the following reports to be produced prior to processing the rent demands. These show those tenancies for which Key Property will generate rent/service charge demands to a given date. The reports can be reviewed and any required alterations made to the tenancy demands prior to ‘pushing the button’ to actually run the demands, creating the invoices and posting the financials to the ledgers.

1 – Demands to Process List

Lists, up to the chosen date, the demands that will be processed. If the report is run for the next month, a single instance only of each demand that will be processed is listed in this report. Thus a weekly demand, which would be processed 4 times in a month, is shown only once in the report.

As a consequence, the total of the demands to be processed shown at the end of the report need not necessarily be the same as the total rent roll for the month, and this will certainly be the case where demands will be processed more than once in a given reporting period. The report below is for the period to 30/07/2011:

In the example above we can see a demand Smithc/Bungalow due to run 01/04/2011 and is monthly. If processed this demand will produce demands for the periods commencing 01/04/2011, 01/05/2011, 01/06/2011 and 01/07/2011. A total of 4 demands would be generated up to our chosen processing date of 30/07/2011. But in this report we are told only that the demand has been selected for processing, not the multiple times it would be run.

Future Rent Demands

For each demand processing date, the demands that will be processed are shown. Thus for our Smithc/Bungalow demand, the report tells us it will be processed on 01/04/2011, 01/05/2011, 01/06/ 2011 etc, all within the demand run up until 30/07/2011.

The Totals for this report therefore includes the multiple instances that Key Prime Property will generate demands from this single demand template.

The Total of this report is therefore the same as the total of the demand invoices that will be raised, ie the total rent roll.

When to use each report

Reports 1 provides a useful audit check to show in summary form which tenancies will have demands processed. This report can be reviewed to see if any tenancy demands expected, are not going to be processed.
Report 2 provides a full check of rent roll demands which will be generated for comparison against an anticipated control total of rents.
You may opt to produce both of these reports. Both are very quick to produce and can be emailed to relevant personnel for approval prior to running the demands.

Additional Reports that should also be reviewed are:-

Tenancies Section : Tenancies with no Active Demand
Properties Section : Properties with no Rent
Demands Section: Demands coming to an End, No Active Demand Report