24.3.1 Release Notes
New Features
Subscribing to Email Digest for Critical Date Notification
Real Estate Manager has introduced a new feature for subscribing to email digests related to critical date notifications. Users can now receive a weekly email digest highlighting important dates for rent reviews and option terms.
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Subscription Management: Users can subscribe or unsubscribe to the critical date digest by navigating to My Settings and selecting Subscribe to Email Notifications for Critical Date Digest. This provides flexibility in managing notifications based on individual needs.
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Digest Content: The email digest includes all overdue critical dates and upcoming critical dates within the next 3 months for rent review and option term jobs, helping users stay informed and proactive. Specific events included with this release are listed below. More events will be included in future releases.
Missed Reviews
Contracts Expired
Overdue Option Exercise Dates
Missed Tasks
Upcoming Reviews
Contracts Expiring
Option Exercise Dates Expiring
Upcoming Tasks
Frequency and Accessibility: After the initial email is sent shortly after subscribing, subsequent emails are sent weekly, ensuring users receive timely reminders. Each job is also accessible in Reporting > My Jobs for easy reference.
This will allow the user to subscribe or unsubscribe to email digests for critical dates information. The email will have information about all overdue critical dates and upcoming critical dates within 3 months for jobs related to rent review and option term dates.
Bulk Download of Custom Fields for Invoices
Real Estate Manager now offers a convenient way to bulk download custom fields for invoices. Users can download the following custom field types in bulk:
Text
Number
Date
This functionality is accessible through a new tile in the Administration workspace called Bulk Custom Field Download.
Users may apply filters to refine their selection and download a file containing the relevant custom field data, streamlining data management and reporting.
Once the user clicks Download, the report will be available under My Jobs.
Additional enhancements will be introduced in future releases. This includes the ability to update custom fields with a bulk import.
Synchronization Improvements
Improvement in Lease Variation Synchronization
The following improvements haven been made to the lease synchronization process between Real Estate Manager and Lease Accounting Manager:
Contract Type Updates: Resolved an issue where users could update the contract type through a lease variation, which incorrectly triggered a contract modification. Users can no longer update the contract type as a Day 2 change.
Term End Date Accuracy: Corrected an issue where the term end date of a contract was inaccurate when an Evergreen/Month-to-Month option was exercised along with payment adjustments or rent updates on the first day of the renewal period.
Other Synchronization Improvements
Fixed-Term Option Renewal: Exercising a fixed-term option in Real Estate Manager now properly synchronizes with Lease Accounting Manager, resulting in the renewal of the contract.
Month-to-Month Option Restrictions: Users can no longer exercise a Month-to-Month option and perform a rent review on any day other than the first day of the renewal period. Such actions must now be performed in separate synchronization steps.
Other Improvements
Enhanced Rollback Functionality for Synced Contracts (Defunct Contracts)
Now, when a user wants to update a contract in Real Estate Manager as defunct and select Rollback Contract in the Actions drop-down, then the active contract along with all the related contracts in Lease Accounting Manager will be updated to "Defunct-RolledBack" status. Previously, only the active contract in Lease Accounting Manager was marked as defunct during a rollback. With this update, initiating a rollback in Real Estate Manager will ensure that both the active deal and any related deals in Lease Accounting Manager reflect the rollback, enhancing consistency and reducing the need for manual adjustments.
Example
The user makes a contract defunct in Real Estate Manager by selecting Rollback Contract. The contract was modified twice and the active deal in Lease Accounting Manager is 1_LA_42023_16-M002. By rolling back the contract and then synchronizing, all previous contracts in Lease Accounting Manager will be Defunct.
Revert Reviews - Capturing Header Info and Cost Adjustment Review Details
Real Estate Manager now preserves the following information when a reverted review is actioned again in the same synchronization process.
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Header related data for an Actioned review linked to a recurring invoice template
Now when the Actioned review is reverted and actioned again in the same synchronization process the users need not re-enter recurring invoice header related data.
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Cost Adjustment Review Updates
When a user reverts a cost adjustment review, Real Estate Manager will retain the review only for synchronization purposes.
The user can re-add the reverted cost adjustment review if needed.
If the user does not re-add the reverted review, a warning message will appear, reminding them that the preserved information will be lost once the changes are saved.
When the cost adjustment review is reverted
Warning message if the user does not add back the Cost Adjustment review
Default Recurring Invoice Template for Contract Costs
When configuring contract costs, an empty recurring invoice template will now be created by default. This enhancement helps ensure users don’t accidentally overlook setting up costs via the recurring invoice template, which could otherwise result in missing invoice generation and delayed payments to landlords.
Before
Post 24R3.1