How to Add Parking to a Contract in FalconPro Real Estate Software

How to Add Parking to a Contract in FalconPro Real Estate Software

Introduction

Managing parking allocations efficiently is crucial for real estate operations. FalconPro Real Estate Software provides a seamless way to link parking spots to rental contracts. This guide will walk you through the process of setting up parking at the building level and assigning it to contracts.

Adding Parking to a Property in FalconPro Real Estate Software

To successfully assign a parking spot to a rental contract, you must first set up parking in the property settings.

Step 1: Define Parking Spaces in the Building

  1. Navigate to Property Setup.
  2. Locate the desired building either by browsing manually or searching directly.
  3. Click on the Parking tab.
  4. Enter the total number of parking spots available for the building.
  5. Save the changes.

By defining available parking spaces, the system will recognize these slots for assignment to tenants.

Step 2: Assign Parking to a Rental Contract

Once parking spots are defined at the property level, they can be assigned to individual contracts.

  1. Open the Leasing section and locate the contract.
  2. Click on the Parking tab and select Add.
  3. Choose the available parking spot(s) from the list.
  4. Define the payment terms for the parking:
    • Cash Payment: Enter the amount separately.
    • Installments: Add parking as an additional fee in contract installments.
  5. Save the contract.

The parking fee will be included in the tenant’s financial obligations.

Step 3: Generate a Parking Fee Receipt

If parking fees are separate from the main contract, a payment receipt can be generated.

  1. Navigate to the Receipts section.
  2. Select the tenant’s contract and the parking fee.
  3. Process the payment and generate a receipt.

This ensures that the parking payment is properly recorded in the system.

Step 4: Revenue Adjustments for Parking Fees

When parking fees are added to a contract, the total revenue for the contract is adjusted accordingly.

  • If payments have already been processed, changes to the parking fee structure may require manual revenue adjustments.

FAQs

  1. What happens if I forget to define parking spaces at the property level?
    You will not be able to assign parking to contracts until spaces are added in the Property Setup.
  2. Can parking fees be included in monthly rent installments?
    Yes, parking fees can be configured as part of the rent installment plan.
  3. How do I remove a parking spot from a contract?
    Navigate to the contract details, select the Parking tab, and remove the assigned spot.
  4. Can tenants pay for parking separately?
    Yes, parking payments can be processed separately through the Receipts section.
  5. Does FalconPro allow tracking of parking assignments?
    Yes, you can view all assigned and available parking spaces in the Property Setup section.

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