How to Book a New Flat and Complete the Contract in FalconPro Real Estate Software

How to Book a New Flat and Complete the Contract in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software simplifies the flat booking process and ensures a seamless transition from booking to contract completion. This guide will walk you through registering a new booking, collecting a deposit, and converting the booking into a lease contract while keeping all financial transactions linked.

1. Booking a New Flat in FalconPro Real Estate Software

Booking a unit is the first step before finalizing a contract. FalconPro Real Estate Software allows users to book a flat temporarily, hold it for maintenance, or block it for management decisions.

Steps to Book a Flat:

  1. Select the Flat for Booking
    • Begin by navigating to the Property Inventory section.
    • Next, click on the available flat/unit (e.g., Flat 106).
    • Finally, click New to create a new transaction.
  2. Choose the Booking Option
    • When prompted, select New Booking instead of New Contract.
    • Then, click OK to proceed.
  3. Enter Booking Details
    • Booking Duration: Specify the period (e.g., 1 week).
    • Booking Amount: Enter the required deposit (e.g., 5,000 AED).
    • Tenant Details: Select an existing tenant from the database or create a new tenant record.
    • Booking Reason (Optional): Choose a reason for booking (can be defined in Administration → Master Files).
  4. Confirm Booking Status
    • If the unit is held for maintenance, mark the booking as a “Hold”.
    • For a regular booking, leave the status as “Active”.
    • After confirming, click OK to save the booking.

Once completed, the system assigns a booking number and updates the unit status as Booked.

2. Receiving the Booking Payment

After booking, the tenant needs to pay the booking deposit, which is usually collected as cash or check.

Steps to Receive the Booking Payment:

  1. Open the Booking Receipt
    • Start by clicking Receipt in the booking window.
    • The system will automatically display the booking amount (e.g., 5,000 AED).
  2. Select Payment Mode
    • By default, the mode is set to Cash, but other payment options (check, transfer) are also available.
  3. Finalize and Save the Receipt
    • Verify the tenant details to ensure accuracy.
    • Finally, click Save to confirm the receipt.

Once saved, FalconPro Real Estate Software:
✅ Marks the booking as financially settled.
✅ Stores the payment receipt in the system.
✅ Links the booking deposit to the tenant’s record.

3. Retrieving the Booking Details

To review or manage an existing booking:

  • First, navigate to Property Inventory → Booking.
  • Then, retrieve the required booking by searching for the flat number or tenant name.
  • Finally, verify the Booking Status (Active, Completed, or Canceled).

4. Completing the Booking and Creating a Lease Contract

Once the tenant decides to proceed, you can convert the booking into a lease contract.

Steps to Complete the Contract for a Booked Unit:

  1. Go to Property Inventory → Property Search.
  2. Retrieve the Booked Unit.
  3. Click on the Booking and select “New Contract”.

At this stage, FalconPro will automatically:
✅ Retrieve tenant details from the booking record.
✅ Carry forward the booking amount as an advance payment.
✅ Update the remaining contract balance.

5. Finalizing the Lease Contract

  1. Enter Rent and Installments
    • Specify the total contract rent (e.g., 30,000 AED).
    • Since 5,000 AED was already collected as a booking deposit, the system will adjust the due amount to 25,000 AED.
    • Choose the number of installments (e.g., 4 payments).
  2. Save the Lease Contract
    • Click Save to finalize the contract.

The system automatically updates:
✅ Booking Status → “Completed”.
✅ Booking Receipt → Linked to the New Contract.
✅ Tenant’s Financial Ledger → Reflects Updated Dues.

6. Verifying the Contract Completion

After completing the contract, FalconPro Real Estate Software ensures financial consistency:

  • Booking Status changes to “Completed”.
  • The Booking Receipt now displays the contract number.
  • General Voucher (GV) for booking is updated.

To verify:

  • First, go to Property Inventory → Booking → Retrieve the Booking.
  • Then, check that the status is marked as “Completed” and the contract details are linked.

7. Financial Impact of Booking and Contract Completion

✅ Ensures deposits are correctly accounted for in financial reports.
✅ Reduces manual data entry by automatically linking booking and contract payments.
✅ Prevents double-entry errors in financial statements.
✅ Improves lease tracking and occupancy rate management.

Conclusion

FalconPro Real Estate Software simplifies flat booking and contract finalization, ensuring accurate tracking of tenant deposits, contract balances, and financial records. By automating the transition from booking to contract, businesses can minimize errors, reduce workload, and improve tenant management.

FAQs

  1. Can I retrieve a booking after it has been completed?
    Yes, FalconPro allows users to view completed bookings, which are linked to the lease contract.
  2. What happens if the tenant cancels the booking?
    The booking remains in the system, and the booking deposit can be refunded or adjusted based on company policy.
  3. Can FalconPro track multiple installment payments for the contract?
    Yes, the system automatically calculates the remaining balance after deducting the booking deposit and tracks multiple installment payments.
  4. How do I ensure the booking amount is deducted from the total rent?
    When completing the contract, the system automatically subtracts the booking deposit from the total rental value.
  5. Can FalconPro generate reports for all active and completed bookings?
    Yes, users can generate reports for active, completed, and canceled bookings directly from the Property Inventory Module.

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