Common expense allocations allow you to easily apply property expenses to tenants for reimbursement. Common uses include non-metered utilities reimbursement, RUBS, and CAM charges.
For example, 101 Beacon has a monthly common area maintenance charge for landscaping, snow removal, and upkeep of a parking lot. Each tenant is responsible for paying a different share of this monthly charge, based on size of the unit.
This feature, used in conjunction with Enter Bulk Charges, makes it easy to split up the expense properly.
Add a common expense allocationShow
- Navigate to Rentals > Properties.
- Click the name of the property you want to add the common allocation to.
- Click the Units tab.
- Click Common Expense Allocations.
- The Common Expense Allocation option will appear for any property with multiple units.
- Complete the form, then click Save.
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 property, click the Add a new allocation link to the right of the Allocation name drop-down box.Click Close to return to the Properties page.
You can add a charge to multiple ledgers using information entered on a single screen. You can set a common allocation and apply it to distribute charges across units in a property. For example, you can enter a bulk utility charge, and calculate what each tenant owes, based on the allocation rule that you set up. You can add multiple allocations to a single property.
Edit a common expense allocationShow
- Navigate to Rentals > Properties.
- Click the name of the property whose common allocation you want to edit.
- Click the Units tab.
- Click Common Expense 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 expense allocationShow
- Navigate to Rentals > Properties.
- Click the name of the property whose common interest allocation you want to delete.
- Click the Units tab.
- Click Common Expense 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 |