Landlords will have multiple development units as well as additional Property Units in US, Canada and Brazil. The DoFort Real Estate ERP system in US, Canada and Brazil will manage properties and rent property units to tenants. Tenancy contracts in US, Canada and Brazil will be executed between Landlord and Tenant, and the system administrator will be responsible for regular rent recovery from tenants as well as accounting information for Landlords in US, Canada and Brazil. They will also be in charge of routine maintenance and repairs for Property Units. The system will notify the contractors who will carry out all of these activities, and the system will pay Contractors on behalf of Landlords.
A tenancy contract is an agreement signed by a landlord and a tenant for the possession of property for a set period of time. Annual fees must be paid in equal monthly installments. The installment can be paid in cash or with post-dated cheques. Additional fees, such as utility and service fees, may apply. After one year, the contract can be renewed, but a new contract no will be generated. Depending on the terms of the contract, it may be necessary to break the contract with full or appropriate charges. Once the Contract has been registered, payment data must be generated. If the tenant provides post-dated cheques, they will be registered in the system and, when due, will be presented to the bank for realization and PDC confirmation.
Once the actual rent is entered into the contract system, the rent applicable for the current accounting year should be calculated and the balance should be posted as deferred income, which is income received in advance for the following accounting year. Please keep in mind that, as previously stated, the posting of current and deferred income will be done on a monthly basis. The same principle applies to any income collected in addition to rents, such as utility, air conditioning, and other service charges. This can be tailored to the customer's specific needs.