Common interest allocations allow you to easily apply association expenses to owners for reimbursement. Common uses include non-metered utilities reimbursement, RUBS, and special assessments.
For example: The Windy Woods association has a $10,000 special assessment due to hurricane cleanup. Each unit in the association has a variable interest in the association, ranging from 5% to 15%, depending on the size of the unit.
This feature, used in conjunction with Enter Bulk Charges, makes it easy to split up the assessment properly.
Add a common interest allocationShow
- Navigate to Associations > Associations.
- Click the name of the association you want to add the common allocation to.
- From the association summary page, select the Units tab.
- Click Common Interest Allocations, then Add new allocation.
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Complete the form.
- In the Allocation name field, enter a new name for the allocation.
- In the Description field, enter a short description for the allocation.
- Enter new allocation percentages, or choose one of Buildium's two options for automatic allocation.
- Auto- allocate by size: Click the link to allocate the expense proportional to the size of the unit.
- Auto-allocate evenly: Click the link to allocate equal percentages to each unit.
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Once you've completed the form, click Create allocation.
If your allocation does not total 100 percent, a confirmation pop-up window appears, alerting you to the fact and requesting confirmation to proceed with the allocation.
- To enter another allocation for the association or property, click the Add a new allocation.
Edit a common interest allocationShow
- Navigate to Associations > Associations page.
- Click the name of the association whose common allocation you want to edit.
- From the association summary page, click the Units tab.
- Click Common Interest Allocations.
- In the Common Allocation Details window, select the allocation you want to edit from the Allocation name drop-down box.
- Click the Edit link to the right of the field. All the allocation details are now editable. More details.
- In the Allocation name field, enter a new name for the allocation.
- In the Description field, enter a short description for the allocation.
- Enter new allocation percentages, or choose one of Buildium's two options for automatic allocation.
- Auto- allocate by size: Click the link to allocate the expense proportional to the size of the unit.
- Auto-allocate evenly: Click the link to allocate equal percentages to each unit.
- Click Save.
Delete a common interest allocationShow
- Navigate to Associations > Associations.
- Click the name of the association whose common interest allocation you want to delete.
- Navigate to Units > Common Interest Allocations.
- In the Common Allocation Details window, select the allocation you want to delete from the Allocation name drop-down box.
- Click the Delete link to the right of the field.
- A confirmation pop-up window prompts you to confirm the deletion. Click OK to delete the allocation.
| Article #: | 111540 |