A Guide to Owner Payments in STRATAFOLIO

A Guide to Owner Payments in STRATAFOLIO

Owning commercial real estate is a great investment that generates an income stream for many years. But, with that comes challenges that multiply as you acquire more properties. While many property management software companies are advanced and may be beneficial, STRATAFOLIO is the leader in commercial real estate software.

What Makes STRATAFOLIO the Leader?

Bulk Invoicing

One of the many benefits for our commercial real estate owners is bulk invoicing – meaning you can invoice all your tenants across all QuickBooks company files at the same time. Let’s explore.

Before STRATAFOLIO, hundreds of our customers were manually invoicing their tenants every month, which is a very time-consuming (and error-prone) activity. Or because it was so manual, they were not invoicing at all which makes tracking monthly rent payments very hard. Either way, this process eats up time that could be better spent on income-generating activities.

STRATAFOLIO easily creates monthly invoices across all your QuickBooks company accounts in seconds! Each invoice reflects the current month’s base rent and all applicable details, straight from your lease escalation schedule, and includes any additional monthly charges you wish to apply (including reimbursable common area maintenance expenses/or operating expenses).

Through automation, owners feel secure they’re collecting the correct rent amount every month, which no longer leaves money on the table from missed lease escalations. This automation also allows for predictable cash flow for your business.

Within STRATAFOLIO, navigate to Operations > Rent Collection on the left-hand side of the screen. There are a number of filtering options:

  • Organizations
  • Entities
  • Assets
  • Buildings
  • Units
  • Tenants
  • Invoiced
  • Balance
  • From (date)
  • To (date)

Below that, based on your filtering, you will see detailed information which allows owners to see at a glance which tenants owe a balance and the amount, due dates, invoice numbers, total monthly rent, and many, many other details. This gives you the power to quickly see which tenants have paid or not paid at any point so you can stay on top of outstanding receivables.

All of this important is stored securely in the cloud, so you no longer have to worry about having confidential paperwork spread among file cabinets and desktop folders on your computer. 

But, most importantly, you can select the Print or Preview Invoices button to bulk invoice your tenants via email, or you can print it out and send it. 

ACH with STRATAFOLIO

STRATAFOLIO offers Automated Clearing House (ACH) payments to allow our owners to collect rent faster and more securely. Traditional methods of collecting rent may include collecting checks and money orders from tenants, taking trips to the bank to deposit, then waiting for them to clear. But, with these methods come both time and energy that could be best allocated elsewhere, along with a slew of security concerns

STRATAFOLIO allows owners to offer ACH payments to their tenants via autopay or monthly one-time payments. There are different limits and speeds in which owners can receive payments, based on the tenant’s lending institution’s permissions, which you can read more about here.

Another bonus with payment via ACH from tenants is that you can clearly see which tenants paid when you look in your bank or credit union account for reconciliation. No more trying to piece together names, payment amounts and dates!

Autopay is the process of paying your rent each month through recurring transfers from your lending institution. This automated process helps ensure rent is paid on time every month, eliminating the stress of cutting checks and hoping they don’t get lost in the mail.

One-time payments through STRATAFOLIO allow tenants to process a one-time payment for a selected date and amount for that instance only.

Whichever payment type is selected is subject to a processing fee, which owners can elect to pay or pass on to the tenants.

Resources

Best Practices for Invoicing Real Estate Tenants

Summary
A Guide to Owner Payments in STRATAFOLIO
Article Name
A Guide to Owner Payments in STRATAFOLIO
Description
Maximize your efficiency as a commercial real estate owner with STRATAFOLIO. From bulk invoicing to easy ACH payments, streamline your operations.
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STRATAFOLIO
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