Management Fees - Setting Management Fees

This article is part of the Management Fees section.

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Management Fees

Setting Management Fees

Management Fees are set at Property level. 

The Management Fee field at Block level is the default amount which is used when adding new properties to a development. Changing the fee on the Blocks tab will not affect the amount charged to existing clients.

The value entered on each property should be the annual net amount for that individual property.

When processing your Management Fees, the system will divide this annual net amount by the appropriate charge period and add the VAT before adding this directly to the client charge file.

You can choose whether or not to charge VAT on Management Fees with the "VAT on Management Fees" System Setting.

Management Fee Discount

You can choose to apply a Management Fee discount for clients that pay by Direct Debit or pay in advance.

The Management Fee discount is applied at Development level.

To enable it, check the DD Management Fee Discount % checkbox on the Development Master tab and enter in a discount amount.

By default, this amount will be a percentage, but can be changed to a fraction by setting the "Management Fee Discount Amount Type" System Setting to 1.

From this point on, a discount contra-charge will be added for each client’s Management Fee, based on the following criteria:

1. The Client pays by Direct Debit AND has a Direct Debit payment made in the period selected in the Process Management Fees screen.

            OR

2. The Client has “Pays in Advance” checked on the Client Account screen AND has a balance that is in Credit (negative).

To check if the discount will be correctly applied, you can use the Management Fee Prelist. See: Management Fees - Processing Management Fees

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