Property Vista Pro-Rate Setup

Purpose, Scope and Assumptions

The purpose of this Document is to assist Property Management Company’s (PMC) Billing Pro-Rate setup. For PMC’s that operate their business using Yardi Voyager and/or other software from Yardi family of products, this document also assists with setup and configuration of Yardi Property Control.

This document assumes that PMC executes one of two possible Lease workflows.

PMC uses both Yardi and PropertyVista products. Lease Application creation and approval process is handled by PropertyVista (website, application or/and CRM). Application and lease charges, concessions (called leasing specials in Yardi), discounts can be set at this time in PropertyVista. The Move In, which is the last step in Lease Application flow, is executed in Yardi, and Yardi billing generates the charges that are passed back to PropertyVista. There are two Yardi sections of this document – 1) applies to Yardi Voyager 6.x, and 2) applies to Yardi Voyager 7. There are also two mapping sections – one for each Yardi version.
PMC does not use Yardi for lease handling/billing or Yardi at all. Lease Application, Lease workflows are handled by PropertyVista. All charges are set and generated by PropertyVista and billing is executed by PropertyVista as well (Workflow 2).

This section describes PropertyVista Billing Policy parameters that define lease term dates and prorate calculations. This setup steps are applicable to PMC using any of workflows defined in Purpose, Scope and Assumption section.

In PropertyVista CRM, go to Administration->Policies->Finance->Billing. In Billing Policy, select Billing tab. The following parameters define the behavior of prorate in PropertyVista:

Proration Method
Rounding Offset
Initial Charges From

Related parameters in other policies include (see references below in document):

Tenancy Starts parameter from Lease Agreement policy

Enable Lease Term Dates Full Sync from Yardi Interfaces policy

Prorate Parameters

Proration Method is the parameter that defines the prorate calculation method for the first month of lease:

Value	Description
None	No prorate
Actual	Prorate is calculated based on monthly lease price, actual number of days in prorate month, and actual number of days of lease in prorated month
Standard	Prorate is calculated based on monthly rent price, 30 days in prorate month, and actual number of days of lease in prorated month. For 31 day month, If start date is 31st, the number of days is 1, if 30th, then 2, If 29th, 3. For 28 day month, if start date is 25th, the number of days is 4.
30 Days Month	Prorate is calculated based on monthly lease price, 30 days in prorate month, and number of days of lease in prorate month between start date and 30th of the month. For 31 day month, If start date is 30th or 31st, the number of days is 1, for 29th, 2. For 28 day month, if start date is 25th, the number of days is 4.
Annual	Prorate is calculated based on annualized lease price, actual number of days in prorate month, and 365 days in a year
Annual, Leap Year Check	Prorate is calculated based on annualized lease price, the actual number of days in the prorated month, and 365 days in a year (OR 366 days where it is a leap year) Non-Leap Year Calculation: (total rent for the year / 365 days in a year) x # of days occupying the unit = prorated rent amount Leap Year Calculation: If it is a leap year, the calculation will be as follows. (total rent for the year / 366 days in a year) x # of days occupying the unit = prorated rent amount

Rounding Offset sets the number of days from the start day of the billing cycle that defines the lease term end date.

Rounding offset defines the lease term end date. Rounding offset values:

Number, 1-31 - day of rounding offset from start date of billing cycle (or 1st day of month, if Billing Cycle Start Day set to 1)
Number, 0 - rounding to last day of previous billing cycle (or previous end of month, if Billing Cycle Start Day set to 1)
Not Set - no rounding (future functionality)

Initial Charges From parameter defines the start date of pro-rate. Values:

Lease From (default) - lease charge start from Lease From date
Expected Move In - lease charges start from Expected Move In date
Actual Move In - lease charges start from Actual Move In date

Notes:

Enable Lease Term Dates Full Sync from Yardi Interfaces policy should be set to Yes for Yardi Lease From changes to be propagated to PropertyVista
Initial Charges From works in conjunction with Tenancy Starts parameter from Lease Agreement policy. Billing charges will be calculated from DATE that is MIN(Initial Charges From, Tenancy Starts date). Lease Agreement can be re-created with updated pro-rate charges, if DATE changed in Yardi, except when Lease Agreement had been already signed prior to the change.

Tenancy Starts parameter has the following values:

Actual Day
Full Month Date
Full Month Date - Lease Update (Yardi mode only)

When user selects Actual Day, Lease Agreement start date will be displayed as the same date as per lease From date

When user selects Full Month Date, Lease Agreement start date will be displayed as the beginning of the next billing cycle, but it will not be propagated to Yardi in Yardi mode via lease application. Proration will not be impacted by the change, and will be calculated as per Initial Charges From parameter.

When user selects Full Month Date - Lease Update, Lease Agreement start date will be displayed as the beginning of the next billing cycle. This date will be propagated to Yardi with lease application information, but proration will be calculated based on both Tenancy Starts and Initial Charges From parameter.

Billing Cycle Start Day parameter is used to calculate Lease Term Start, End Dates. It can be set in Billing Policy in Available Billing Types section. If set to 1, it is equal to 1st of month. Billing Cycle Start Day must be set to 1 for mapping with Yardi Voyager 6.x. In Yardi Voyager 7, it is mapped to Bill Day.

Picture below illustrates how the combination of Rounding Offset values and Proration Method values impacts the Lease Term Start and Lease Term End Dates for a given Lease Move In date.

If Rounding Offset greater than 0:

Lease Term Start Date:
- If Proration Method is not set to “None”, Lease Start Date is equal to Lease Move In Date
- If Proration Method is set to “None”, Lease Start Date is set to start day of billing cycle (or 1st day of month, if Billing Cycle Start Day set to 1)
Lease Term End Date:
- If Lease Move In Date is less or equal to Rounding Offset, Lease End Date is set to start day of billing cycle (or 1st day of month, if Billing Cycle Start Day set to 1)
- If Lease Move In Date is greater than Rounding Offset, Lease End Date is set to last day of billing cycle in a last month of term (of end of last month of term, if Billing Cycle Start Day set to 1)

If Rounding Offset equals to 0:

Lease Term End Date is equal to Lease Term Start Date + term duration

Prorate Setup in Yardi

Yardi 6.x Property Control Prorate Configuration

This section applies to Yardi 6.x Voyagers users. Hence it is applicable for Workflow 1.

Note: This section does not replace the Yardi User Guide, and is not intended to provide the explanation of Yardi functionality, components, or setup of Property Control. This section provides the basic setup of PropertyControl prorate related parameters for PMCs that are using both PropertyVista and Yardi products.

Note: Property Control in Yardi 6.x does not have setup parameter mapped to Billing Cycle Start Day in PropertyVista. Therefore, Yardi Billing is based on 1st of month and lease end dates are often aligned with EOM (End of Month) or end of previous month instead.

in Voyager, Yardi->Setup->Property->Property Review->Functions->Property Control provides the access to terms and prorate setup in Yardi.

The following parameters will impact proration and charges for new lease, and need to be reviewed when using Yardi with PropertyVista for Lease Application/Lease workflow:

Parameter	Description
Rounding Lease Term	EOM, Prev EOM, None - defines how the end lease date will be set
Rounding to Prev EOM, if before	Offset date in lease start month, if Rounding Lease Term = EOM, sets the end lease date to Prev EOM+ term duration if before that date, and EOM + term duration if after that date
Charge Next Month, if after	Offset date in lease start month, if Move In date after that date, Yardi first Billing generates first month prorated and second month full month charges. If Move In date before that date, Yardi first Billing generates first month prorated charges only.
Prorate Rent	Yes/No
Prorate based on Days in Year	If Yes, prorate is calculated based on annualized lease price, actual number of days in prorate month, and 365 days in a year
30 Days Month	If Yes, prorate is calculated based on monthly lease price, 30 days in prorate month, and number of days of lease in prorate month between start date and 30th of the month. For 31 day month, If start date is 30th or 31st, the number of days is 1, for 29th, 2. For 28 day month, if start date is 25th, the number of days is 4.
*Charge Move In Date*	*Must be set to Yes, for mapping with PropertyVista*
*Charge Move Out Date*	*Must be set to Yes, for mapping with PropertyVista*

Yardi 7 Property Control Prorate Configuration

This section applies to Yardi 7 Voyagers users. Hence it is applicable for Workflow 1.

in Voyager, Yardi->Setup->Property-> Review Property->Functions->Property Control provides the access to terms and prorate setup in Yardi.

The following parameters will impact proration and charges for new lease, and need to be reviewed when using Yardi with PropertyVista for Lease Application/Lease workflow:

In Property Details tab:

Rounding Lease Term
Rounding to Prev EOM, if Date On/Before
Charge Next Month, if Move In After

In Residential Configuration tab:

Prorated
Bill Day
Amount Period

Parameter	Description
Rounding Lease Term	EOM, Prev EOM, None - defines how the end lease date will be set
Rounding to Prev EOM, if Date On/Before	Offset date in lease start month, if Rounding Lease Term = EOM, sets the end lease date to Prev EOM+ term duration if before or on that date, and EOM + term duration if after that date
Charge Next Month, if Move In After	Offset date in lease start month, if Move In date after that date, Yardi first Billing generates first month prorated and second month full month charges. If Move In date before that date, Yardi first Billing generates first month prorated charges only.
Prorated	Monthly, Annual, Period, None, Monthly (30 days)
Bill Day	*Billing Date, must be same as Billing Cycle Start Day in PropertyVista for mapping*
Amount Period	*Monthly, Quarterly etc. Must be set to Monthly* *for mapping with PropertyVista*

Prorated is the parameter that defines the prorate calculation method for the first month of lease:

Value	Description
None	No prorate
Monthly	Prorate is calculated based on monthly lease price, actual number of days in prorate month, and actual number of days of lease in prorated month
Period	Same as Monthly for Amount period = Monthly.
Monthly (30 Days)	Prorate is calculated based on monthly rent price, 30 days in prorate month, and actual number of days of lease in prorated month. For 31 day month, If start date is 31st, the number of days is 1, if 30th, then 2, If 29th, 3. For 28 day month, if start date is 25th, the number of days is 4.
Annual	Prorate is calculated based on annualized lease price, actual number of days in prorate month, and 365 days in a year

Mapping between Yardi Voyager 6.x and Property Vista

See below the mapping of Yardi Property Control to PropertyVista Billing Policy Parameters. This applies to PMCs that are using Workflow 1.

Rounding Mapping Table#

# Billing Cycle Start Day must be set to 1 for mapping with Yardi

* Not implemented in PropertyVista, First charge is always for first month only

*** Future Functionality in PropertyVista

Prorate Methods Mapping Table

^ Exact mapping when Charge Move In Date and Charge Move Out Date in Yardi set to Yes

** Not implemented in Yardi

Other Parameters

*Charge Move In Date*	*Must be set to Yes, for mapping with PropertyVista*
*Charge Move Out Date*	*Must be set to Yes, for mapping with PropertyVista*

Mapping between Yardi Voyager 7 and Property Vista