Keeping track of collections is complicated by prepaid balances and past-due balances. Most of our customers look at collections by running two main reports:
a) Aged Receivables to learn which tenants owe how much, and
b) Rent Roll to see how much rent and other charges are due, and if any deposits and balances are being carried.
So, here’s what happens behind the scenes in our Collections Dashboard: each week (or daily, if you prefer) we run the Aged Receivables report and the Summary Rent Roll.. Then we merge the data from the two reports to show how much has been paid and how much remains to be paid. We do this for each tenant in each property. This process enables us to calculate metrics such as Total Charged, Total Receipts, % Amount Due Collected, % of Tenants with a Balance,
See Trends: We also preserve the data from prior report runs. This enables to plot prior collection percentages so you can see if the collection rates are trending up or down.
Filter by Property: Further, using the filters on the dashboard, you can view data for any one property, group of properties or the entire portfolio.
What This Does For You
|Stay on Plan||
You can’t hit your NOI targets if your collections are slow. Use the RentViewer Collections Dashboard to stay on top of collections!
Collections that keep piling up can become uncollectable. Having to write off bad debt is in no one’s business plan.
|Plug Leaks||Don’t leave money uncollected. Past due rent should be sitting in your bank account.|
More Information …
Also take a look at our Delinquency Dashboard (RV04). While the Collections Dashboard gives you an overall picture of collections, the Delinquency Dashboard shows the history of balances carried by tenants and their payment patterns.
What if You Didn’t Have This
If you didn’t have the Collections Dashboard, you’d have to run the Aged Receivables report and the Rent Roll for each of your properties, and plug numbers into an Excel file.
How to Get the Collections Dashboard
Contact us to get pricing. For Rent Manager and Entrata users, this can be installed in 24 hours.