Property Management Software

Executive Summary We design and deliver the systems, software and services that drive next-generation communications networks. Backed by Bell Labs research and development, we use our strengths in mobility, optical, access, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for our customers, while enabling them to quickly deploy and better manage their networks. Our customer base includes communications service providers, governments and enterprises worldwide. We have three segments organized around the products and services we sell. The reportable segments are Integrated Network Solutions (“INS”), Mobility Solutions (“Mobility”) and Lucent Worldwide Services (“Services”). INS provides a broad range of software and wireline equipment related to voice networking (primarily consisting of switching products, which we sometimes refer to as convergence solutions, and voice messaging products), data and network management (primarily consisting of access and related data networking equipment and operating support software) and optical networking. Mobility provides software and wireless equipment to support radio access and core networks. Services provides deployment, maintenance, professional and managed services in support of both our product offerings as well as multi-vendor networks. Beginning in fiscal 2001, the global telecommunications market deteriorated, resulting from a decrease in the competitive local exchange carrier market and a significant reduction in capital spending by established service providers.This trend intensified during fiscal 2002 and continued into fiscal 2003. Reasons for the market deterioration included general economic slowdown, network overcapacity, customer bankruptcies, network build-out delays and limited availability of capital. We believe that the market for telecommunications equipment has stabilized and is starting to grow in certain areas. The growing demands of enterprises and consumers for additional services tailored to their needs is creating the need for a new convergence of networks, technologies and applications. Required 1. Using the Consolidated Balance Sheets for Lucent Technologies for September 30, 2004 and 2003, prepare a common-size balance sheet. 2. Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial information would investors and creditors need to make investing and lending decisions for Lucent Technologies? LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in Millions, Except per Share Amounts) September 30, September 30, 2004 2003 Assets Cash and cash equivalents $ 3,379 $ 3,821 Marketable securities 858 686 Receivables 1,359 1,511 Inventories 822 632 Other current assets 1,813 1,213 Total current assets 8,231 7,863 Marketable securities 636 — Property, plant, and equipment, net 1,376 1,593 Prepaid pension costs 5,358 4,659 Goodwill and other acquired intangibles, net 434 188 Other assets 928 1,608 Total assets $ 16,963 $ 15,911 Liabilities Accounts payable $ 872 $ 1,072 Payroll and benefit-related liabilities 1,232 1,080 Debt maturing within one year 1 389 Other current liabilities 2,361 2,393 Total current liabilities 4,466 4,934 Postretirement and postemployment benefit liabilities 4,881 4,669 Pension liabilities 1,874 2,494 Long-term debt 4,837 4,439 Liability to subsidiary trust issuing preferred securities 1,152 1,152 Other liabilities 1,132 1,594 Total liabilities 18,342 19,282 Commitments and contingencies 8.00% redeemable convertible preferred stock — 868 Shareowners’ Deficit Preferred stock—par value $1.00 per share; authorized shares: 250; issued and outstanding: none — — Common stock—par value $.01 per share;Authorized shares: 10,000; 4,396 issued and 4,395 outstanding shares as of September 30, 2004,and 4,170 issued and 4,169 outstanding shares as of September 30, 2003 44 42 Additional paid-in capital 23,005 22,252 Accumulated deficit (20,793) (22,795) Accumulated other comprehensive loss (3,635) (3,738) Total shareowners’ deficit (1,379) (4,239) Total liabilities, redeemable convertible preferred stock and shareowners’ deficit $ 16,963 $ 15911

The front desk team had just cleared several long check-in lines. Out of the corner of my eye I saw an enraged hotel guest beelining for the front desk.

I saw something gleaming in his hand and just at that moment that “something” took flight, spinning like a killer Frisbee in the direction of a fellow front desk clerk.

Without missing a beat, the clerk ducked and a plate crashed into the wall behind him smashing in a hundred pieces while chocolates and fruit littered the floor.

It suddenly occurred to me that this was a “return guest gift” that had been hurled. Beautiful hand crafted chocolates and artfully cut fruit presented on an antique plate, now just a mess on the floor.

We were experiencing a case of room rage and this hotel guest had just lost it.

The hotel had been acknowledging this guest for his return business; however on this day, the guest had not been checked into the same calibre of room he had stayed in on previous stays.

The “return guest gift” had been looked after that morning so the guest history in the Property Management System had been consulted. During this stay however, when room pre-assignments had been completed, someone had missed assigning the guest their expected room type.

Could this incident have been avoided by using the guest history information more effectively? Was there something lacking in the business tool (software) itself? Was there a lack of training of the individual that was in charge of room pre-assignments and return gifts?

The reality is that it very well could have been all or some of the above or perhaps this guest may have reacted as they did regardless. This type of behaviour cannot be condoned under any circumstances but serves as a dramatic example of the affect that business tools and the use or misuse of them can have on your business.

The items mentioned above apply to all business software, not just the type mentioned in this article. Ask yourself these questions to make sure you and your staff are getting the most out the software that you are using to run your business.

1. Are all the features you could take advantage of, being used to help your business process?

2. Are the right tools (software) being used to do the job?

3. Are all employees trained to use the software properly?

When you are evaluating potential Property Management Software for your business, you may find that the system you are evaluating does provide features that you require. You need to make sure the features work the way you expect them to and provide full and easy access to information that you require to complete the everyday tasks that take place at your Hotel.

The success you experience with your Property Management System also hinges on how well your staff are trained to use the software to accomplish their work and look after your guests.

Training should be on-going for new hires, with reinforcement training for existing staff.

During the evaluation process you need to be sure that the software you choose is the best fit for your hotel. You also need to confirm that the vendor offers the resources your staff will need for training during the implementation procedure and for the life of the product.

Good luck with your evaluation process!

Jeff Sefton



By: Jeff Sefton

In the search for the best way for landlords and managers to find the best tenants in the quickest and most reliable manner, companies have devised two basic software models.

If you are managing property and have more than a few units, property management software is the best thing for you. There are packages that are designed for small property owners and not too expensive. The point of software is its ability to keep great records and can even prompt you. The days of ledger books or running your business out of a shoe box are gone – too complicated and too many law suits and besides, once you learn it it will save time.

There are basically two types of software that most managers use. Rules based software in part one of this series. This is the most interactive of the two approaches offering the owner/manager a better way to find good tenants remaining objective and therefore less likely to run into fair hosuing problems.

Rules Based Software: It is an interactive approach requiring the owner/manager to set the criteria they want to use to screen potentials. Each applicant must pass these criteria. The owner chooses certain criteria that are important and sets ovjective business rules. Any applicant that doesnt fulfill these lines in the sand is automatically declined. No thinking, stressing, no undecided moments. Simple.

Some of the criteria that you should consider for your screen are:

Rent to Income

Many property management companies will use before tax income equal to three times the rent. If that isnt met only a guarrantor of the tenancy cures the problem. – no excuses and no exceptions will keep your court costs down and your piece of mind intact

Debt to Income

We like to see debt levels no greater than one third of income. This ratio helps you determine whether they have the after expense ability to pay the rent. If not, then maybe you have a less expensive unit for rent or you can ask for a friend or relative with assets and income to guarrantee the lease

Late Payments

We dont like to see any late pays. A few occasional 30 day late pays but never 90 days. If they are tears ago, we may discount it. Sometimes school days or a divorce can be a low point, but they would have to show a few years of good financial history for us to consider

Insufficient funds or bounced checks

None unless they were a few years back and only once or twice

Evictions

Never, not one

Part two of this series will look at another software model for establishing objective criteria to tenant screening

Thanks for Reading

Howard Bell for yourpropertypath.com



By: Howard Bell

Property management is the concern of many of us, taking into account the fact that our society is in continuous movement and change. Property management information is available not only in specialized magazines and research papers, but also online, on websites that have as their major concern study, market research, covering issues regarding marketing and leasing, land use and development, maintenance and other important subjects. There are also property management companies that offer their consultancy and assistance during an investment and management period.

The advantage of reading property management magazines is that they present both the academic and professional point of view. Besides, some of them are available online, too. Another advantage of property management magazines is that some of them are focused either on the national or international perspective regarding important issues. Property management magazines are a valuable resource for people who want to be informed about changes of this domain.

There are various online resource centers offering news and information about property management. You can find there information about property and real estate, tax deductions for landlords, frequently asked tenants concerning the legal or practical issues of tenants and landlords. Property management resource centers also offer useful tips for landlords and valuable details about usual issues. Tenant injuries is a subject discussed by online property management resource centers, pointing out insurance facts and landlord liability. There are also legal updates to previous information offered on the website so that the landlords would be well informed about recent changes.

Landlords may be amazed by the fact that there is property management software available. This property management software is of great help for landlords with a few rental units and for management of big properties. In this way, you can have your rental properties organized, benefiting from the smart Windows based software. This popular property management software reminds you of expiring leases, late rent, providing extensive reports in various categories. Property management is made easier and more accessible with simple software that provides necessary and valuable information in due time.

There are also National Property Management Associations focused on personal property and fixed-asset professionals. These associations can offer training, educational opportunities as well as certification programs, all of them concerning the subject property management.

You can find information and assistance concerning agriculture, industry property management. There are property management divisions concerned with some particular branches: real property, personal property and physical property. Property management can become easier with support, implementation and monitoring of procedures, regulations and policies for the management of real and personal property.

Property management companies have to deal with multiple responsibilities and aspects of management of ownership of real estate. These companies offer to negotiate and stabilize the relationships between landlord and tenant. They also manage income and activities involving expenses, repair, maintenance and other aspects of the construction and development.

Property management is much more than a matter of responsibility, awareness and information. It requires time, intelligence and witness, great attention to details, but also management qualifications.



By: Livia Belmonte

Nobody can say for sure that there is any business that is 100 percent secure, and that always gives a positive return, regardless of it being not properly looked after by the owner. The case is the same with real estate investment management . If done properly, you can earn a good sum of money out of the same. There are many satisfied investors who have changed their lives by going in for this business. More so those who had purchased villas before the prices boomed up. With the prices of other commodities rising due to the increase in oil prices, the prices of villas are going down. This is the right time to put in some of your money into villas. They will pay you back far more than any other venture can.

If you think that you have a sixth sense for understanding and running a new business, you are wrong. If the new business you are planning to start has any connections with your old business then you do stand a chance, otherwise not. The same holds true for real estate investment management . You need to have basic ideas about how villas should be taken care of, what are the risks involved and how to avoid risks all together apart from other things before you embark on this type of work. The amount of money that you have to invest over here is far more than what you need to invest in a normal business. Therefore it is important that you know the basics right before stepping ahead and parting with your cash.

Spend some time and learn as much as you can about the market. There are many web sites which you can visit that will help you to have an in depth idea about real estate investment management . Apart from this there are a number of books dealing with the subject and spending some time reading and understanding them before you part with your money is a good idea. There are two ways of approaching a business, the casual way and the professional way. It goes without saying that those who follow the professional approach always ends up being a winner. There are so many ifs and buts in this field that it takes experience too. However, if you are well prepared when you start, you shall be able to avoid the most dangerous pitfalls.

Once you have understood the basics of real estate investment management , there are some software that will help you to take care of the villa that you are planning to purchase and lease out. Before splurging your money on the villa of your choice, check out its selling price with a number of agents. At times there is more than one agent for a particular villa, and someone might offer you a slightly lower rate than the other. Though the difference might not be awesome, it does make a difference.

Finally, check out the history of the villa you are intending to buy. Are there any dues by ways of taxes? Has any part of the same been sold to someone? Before planning to spend your money on a villa and then going in for real estate investment management , you need to make sure that the villa is free from any encumbrances.



By: Kamyar Shah

Business management has resulted in evolutionary real estate property management software that allows a business owner to quickly access reports, information, history, etc. Typically, an accountant kept financial records and the property owner trusted that they were keeping track of the tedious information. Most importantly, the property owner was trusting that the accountant or management company was keeping a close eye on profits, rents being collected on time, rents that are overdue and also making sure any loans and taxes are paid on time.

Nowadays, a quick click on your real estate property management software can show you a general report of how many outstanding tenant accounts you have and what the status of their account is. For example, you may be able to sort outstanding accounts in descending order, with oldest accounts at the top. Or you could use your management software to sort outstanding accounts beginning with which tenants are still living in the rental property and which have moved out or been evicted.

Your real estate property management software should give you an option for sorting outstanding tenant accounts based on legal course of action. For example, has a notice been left at the residence? Or has the next step been taken and an eviction notice been given to the tenant? Has the tenant been taken to small claims court or are they being prosecuted?

A general search should display results that allow a property owner the opportunity to see a quick list of these references. However, from there, the real estate property management software should allow a property owner the power to zoom into, or pinpoint the focus on exactly what steps have been taken for each tenant.

For example, the real estate property management software may list the tenants in apartment B as being severely overdue. The property owner should be able to select that profile and see the details such as the date the overdue notice was left at the residence, the deadline for payment before eviction processes began, the date an eviction notice was officially given and the date when eviction occurs. In addition, the property owner should be able to see a payment history and account balance of individual accounts.

Another useful tool of management software is that a property owner or management business should be able to access a history of average rental rates. This can be useful in tracking the fluctuation of the market and in judging whether or not a new rental increase is due. If the property owner sees that it has been 5 years since rates have gone up, he or she may consider a rate increase for existing tenants and a higher rental rate for newcomers.

Typically, a property owner will set the rental fee very close to similar properties in the area. If the market will not sustain current rental fees, the rates may even be inclined to lower.

The software should also keep track of profit and loss, beginning with how much is owed against the rental property versus how much income they bring. In addition, the cost of staff, routine maintenance, lawncare, taxes, etc must be factored into making a decision about the profitability of a rental property and should factor into the going monthly rental rate.

Software will also help a property owner keep track of building maintenance schedules, which is an important practice in keeping an investment such as this in top shape.



By: Kamyar Shah

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Managing assets given on lease can be quite a cumbersome task. Hence rental property management firms are taking the assistance of software for getting along with their work efficiently. There are many types of software available in the market today. Thus there are certain factors that an assets management firm should consider before selecting suitable software.

• Feature enriched software are abounding the markets today. The managing assets firm should not be carried away by the number or the power of the features. Rather they should see if the features are actually being of any use to them. The rental property management firm should choose software that has got a lot of features useful for the assets managing firm.

• The assets managing firm should consider the hardware and software configuration of its automated systems before selecting software because many of the software are platform dependent. Many firms usually spend huge amounts of money in buying software that does not actually run on their machines. It is always better to buy software compatible with the existing hardware and software configuration than to upgrade the configuration to suit a particular type of software unless it is absolutely inevitable.

• The software that a rental property management firm chooses should have the capacity to maintain huge databases of client details. Hence the assets managing professional should have an idea of the amount of data that he is going to enter into the automated database. For this, he can take the advice of both the assets managing as well as the automation experts. It is no use taking software that has limited capability.

• It is always better to take software that can support a large number of users simultaneously. The automated system will be accessed by not only the management professionals, but by the owners and the tenants as well. Hence there will be a huge traffic accessing the networked sites. Most of the functionality is interconnected. The software chosen should be efficient and fast in yielding results.

• The data entry, management and retrieval processes should be user friendly. The owners and the tenants who operate these systems may not be computer savvy. Hence simple procedures are going to be understood easily. Otherwise, these people who are not comfortable with the online applications might turn away from the rental property management firm that uses such a complicated system. After all, people do not have the time to spend on process that they do not understand as there are many competing firms offering a very convenient automated ambiance.

• The software selected should handle details of a lot of tenancy processes well. Software that offers advanced features like, late payment recording and calculation of the associated penalty should be selected. The software programs should work on the same kind of logic that you understand and yield the expected criterion that you are looking for. For example, if you are interested in calculating the penalty that the defaulters have to pay after a six months period, the software that you choose should have a feature to calculate that. By having functionality for calculating the monthly defaulted amount only, the rental property management professional has to put the extra effort of making separate calculations which might prove to be quite burdensome and time taking when it comes to calculating for thousands of people.



By: Kamyar Shah