Management of Commercial Properties
TeXtra has been designed to handle all kinds of commercial properties including Shopping Centers, Industrial Buildings, Office Towers, and Strip Malls. The Commercial version o f TeXtra targets those property managers who have a complex commercial operation (the residential version has basic commercial functionality and can be used to manage less demanding commercial portfolios). Unlike the residential version, TeXtra Commercial is loaded with automatic features to handle common area expenses. Budget preparation, automatic calculation of tenants share, year-end reconciliation etc. is at your disposal. Both residential and commercial versions allow you to define schedules of interim rent increases. In addition, the commercial version is equipped with the automatic calculation of rent increases based on the CPI index. The commercial version of TeXtra provides you with a broad scope of tenant related invoicing functionality: monthly invoices, invoice for work done or service provided, invoice for percentage of sales, CAM adjustments.
The lease definition allows to define: basic rent, CAM charges broken down by categories and administrative fees (can differ for individual categories of expenses), garage charges broken down by individual garage spots, miscellaneous fixed charges broken down by individual charges, and taxes (if applicable). Full management of security deposits, postdated checks, and Late Payment Charges are included.
Like all versions of TeXtra, this version offers an extensive set of queries that with a one click on a push-button lets you know which leases expire when, which units will become vacant at a particular time, which tenants have a pending interim rent increase, which tenants were granted free rent or discounts in a particular time frame, and others.
TeXtra is equipped with a system of notes that lets you query your entire portfolio for all tenants that are subject of a particular category of a notes (collection problem, exclusivity to sell a particular product in a given property, conditional free rent etc.). You can designate selected notes to appear on the agenda to show you a countdown to a particular time line. In a multi-user setup, employees can use notes to pass messages to each other.
Accounts Payable module allows for check printing (including MICR), and integrates Purchase and Work orders. Individual invoices can be split between different properties based on a percentage or the end-user entered amounts.