Throughout 2022, we will be releasing a number of features in our new client portal, designed to enhance the client experience with faster communication, better financial reporting, and real-time visibility into every aspect of your property.
Please note the accounting platform changes will be taking effect in January 2022.
In order to offer the level of functionality we’re striving to deliver for our clients, we needed to shift to a new accounting platform that is operated by Propertyware.
We think you are going to love all the features long-term but here are the key notes to start:
It is important to note that our shift to an upgraded accounting platform is only one contributing reason behind processing times. Stricter banking regulations have taken away our ability to advance funds prior to clearance and have extended clearance windows due to industry wide increases in delinquency, specifically bounced payments resulting from non-sufficient funds. Furthermore, updated legislation pertaining to tenant advocacy has reinforced tenant grace periods at the start of each month and necessitated a change that is impacting the nature of these transactions.
We understand this is a big change. We believe the benefits far outweigh the costs. We truly hope you can appreciate our position that we are unable to advance rental income until it settles and that our new platform will continue to evolve into something you have immense trust and confidence in.
We are custom-building a brand new work order system from scratch, to better serve the needs of our clients, our tenants, and our staff.
The first phase of the new maintenance system will be released in Q1 2022. Here are the key features:
Along with accounting, maintenance is at the core of our business, and we believe these improvements will completely transform the Nomadic Experience for our clients and their tenants. We will launch the first phase of the new maintenance platform in Q1 2022, and the remaining features will be rolled out over the course of the year.
We are building a custom inspection platform which will expedite the turnover process significantly and will provide an unprecedented level of transparency for our clients during one of the most critical stages in their property’s lifecycle.
The inspection platform will be released in Q1 2022, and new features will be added throughout the year. Here are the key details:
With better inspections, we’ll achieve a higher level of efficiency with our turnover process. This will expedite the leasing process significantly and reduce vacancy, while allowing for smoother move-in experiences for your future tenants.
The new communication hub in our client portal will be one of the single biggest improvements we can offer for our client experience. Strong, same-day communication has been one of our core values for the past 15+ years, and this particular aspect of our new portal is extremely important to us.
The communication hub will be deployed in phases over the course of the year. Here are the key features we’re looking forward to:
Our goal has always been to provide same-day responsiveness for our clients. With our new tools, we’re raising the bar for ourselves. We believe our new communication tools will enable us to provide actionable, detailed responses in minutes for simple requests, and within hours for even the most complex inquiries.
These two interrelated features will afford a whole new level of transparency for our clients. Our goal is to put crucial information at your fingertips and reduce guesswork at every stage of the property lifecycle.
We’re aiming to release the first phase of the activity log and communication hub in early Q2 2022. Here are the key features:
The central idea behind the activity log is that you’ll be able to know the inner workings of your property as though you were managing it yourself, without doing any of the legwork. We’ll still be handling all the heavy lifting, but you’ll be able to track every single action taken at your property every step of the way.
The reporting capability of our new platform will be transformative for our clients. This is a data-driven approach that will completely transform your understanding of your property’s (or portfolio’s) performance.
The first phase of our new reporting system will be released in Q1 2022 and will focus on financial reporting, and additional performance-related reports will become available over the course of the year. Here are the key details:
With our new reporting suite, we’re aiming to provide our clients with a level of data visibility and sophistication previously only available to institutional investors on Wall Street. This will enable you to make data-driven investment decisions to help you meet your financial goals.
Your portal includes a selection of extremely useful reports. Reports are available in the “Reports” section, and are distinct from the financial statements. Unlike financial statements which are static records, Reports are dynamic real-time records that will update with current data every time you view them.
Scroll down to learn more about Reports:
Financial statements will be published to your portal on a monthly basis. The statements are found in your Documents library, and provide a historical record of all financial performance. The statements serve as a snapshot of financial performance over a given period, and are static documents (unlike Reports, the statements do not update/change in real-time).
Scroll down for more info about the Financial Statements in your Documents library:
You can use your owner portal to communicate with our team. Any messages you send through the portal will go straight to your Account Manager. When we reply, you’ll get an email notification and you’ll also see the message in your portal next time you log in.
Here’s an overview of using the communication platform:
Your portal includes a ledger with all transactions. The ledger is populated with data in real-time as transactions flow through our accounting software. Much of this information is also available in the Reports area, as well as the Statements in your Documents library, but the ledger is the most comprehensive resource for diving into the details.
Please scroll through the sections below to get a better understanding of how to interpret the ledger.
Your portal includes some extremely useful features that help you understand your property’s financial performance at a new level, with real-time transparency into every transaction.
Scroll through the snapshots below for an overview of portal navigation! If you need more help or have specific questions about using the portal, you can reach out to your Account Manager any time for a screen share.
Net distributions keep your accounting clean and simple. Each month we’ll collect rent from the tenants, deduct any repair expenses for the previous month and any management/leasing fees for the current month, and credit the remaining net operating income to your account.
You’ll receive a statement via email each time a net distribution is processed, and can view all transaction details in your Propertyware owner portal.