Leasing Clearance Certificate in FalconPro Real Estate Software: Step-by-Step Guide
Introduction
The Leasing Clearance Certificate—also known as the Leasing Clearance Statement—is a crucial financial document in FalconPro Real Estate Software. It is used when property management is transferred between companies or when ownership of a property changes hands. This certificate provides a clear, detailed summary of all leasing contracts, payments, and outstanding balances for a specific property, ensuring transparency and compliance during transitions.
Generating the Leasing Clearance Certificate
1. Accessing the Leasing Clearance Statement
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Navigate to the Leasing Module:
Go to the Reports screen and select the Leasing section. -
Choose Leasing Clearance Statement:
Click on the Leasing Clearance Statement option to open the certificate generation tool.
2. Selecting the Property and Clearance Date
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Define the Property:
Select the property or properties for which you need the clearance certificate. You can choose individual buildings or multiple units as required. -
Set the Clearance Date:
Enter the clearance date, which marks the cutoff point for all data included in the certificate. For example, set the clearance date as March 10, 2025, to include all transactions up to that date.
3. Retrieving the Data
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Press Retrieve:
Click the Retrieve button to generate the statement.
The system will display all relevant details for each unit and contract related to the selected property.
Understanding the Leasing Clearance Certificate Content
Key Information Included:
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Unit Number:
The specific unit or property identifier. -
Contract Number:
The unique contract reference. -
Contract Status:
Whether the contract is active, terminated, or otherwise. -
Start Date and End Date:
The period covered by each contract. -
Total Days Utilized:
The number of days the contract was active up to the clearance date. -
Rent Value:
The total rent due under the contract. -
Discounts:
Any discounts applied to the contract. -
Calculations for the Old Owner:
All financial transactions and balances relevant to the previous owner or management company. -
Calculations for the New Owner:
All financial transactions and balances relevant to the new owner or management company. -
Clearance Balance:
The net amount to be settled between the old and new owners. -
Security Deposit:
Details of any security deposits, including whether they are held as cash or cheques. -
Final Net Value:
The total amount to be transferred or settled as part of the property handover.
Searching and Filtering the Certificate
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Search Criteria:
You can search for certificates by landlord name, contract, or any other relevant criteria. -
Comprehensive Detail:
The certificate provides a complete breakdown of all financial and contractual details for each unit, making it easy to verify and audit the handover process.
Exporting and Printing the Certificate
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Printing:
Click the Print button to generate a hard copy of the certificate. -
Export to Excel:
Export the certificate to Excel for further analysis or sharing with stakeholders. -
Save as PDF:
Save the certificate as a PDF for digital record-keeping and easy distribution.
Best Practices for Using the Leasing Clearance Certificate
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Regular Updates:
Ensure all contract and payment data is up-to-date before generating the certificate. -
Verify Details:
Double-check all unit, contract, and payment details for accuracy. -
Documentation:
Keep digital and printed copies of the certificate for audit and compliance purposes. -
Stakeholder Communication:
Share the certificate with all relevant parties to ensure a smooth transition of management or ownership.
Conclusion
The Leasing Clearance Certificate in FalconPro Real Estate Software is an essential tool for property managers and owners during transitions. By providing a detailed, auditable summary of all leasing contracts and financial transactions, it ensures transparency, compliance, and a seamless handover process.
Frequently Asked Questions (FAQ)
Q1: When should I use the Leasing Clearance Certificate?
A: Use the certificate when transferring property management between companies or when ownership of a property is changing hands.
Q2: What information does the certificate include?
A: It includes unit and contract details, rent values, discounts, security deposits, and all financial transactions relevant to the old and new owners.
Q3: Can I filter the certificate by specific properties or contracts?
A: Yes, you can filter and search by property, contract, landlord, or other criteria.
Q4: Can I export or print the certificate?
A: Yes, you can print, export to Excel, or save as PDF for your records.
Q5: Is the certificate auditable?
A: Yes, the certificate provides a detailed, auditable record of all financial and contractual details for the selected property.
