Managing Property Areas

This article outlines the steps for managing property areas. Areas divide properties into various spaces, helping you understand and organize the different segments within a property. These can range from office spaces and retail shops to non-lettable sections like common areas and facilities. We will guide you through viewing, adding, editing, and archiving these areas, as well as assigning market rent values and connecting areas to tenancies for accurate record-keeping.

Understanding Property Areas

Property areas allow you to categorize the different sections of a property. This classification is essential for managing rentals and maintenance. It could be anything from rentable areas such as office spaces and car parks to common spaces that require upkeep, like elevators or bathrooms.

A property may contain multiple areas, particularly if it's a larger commercial space. For instance, an office building with several office areas on the same floor should have areas distinctly titled, like 'Floor 1 Office 1A' or 'Floor 1 Office 2'. Conversely, a single-family residential home generally comprises one area rented out in its entirety.

Each area can be linked to a tenancy and is assigned a market rent value. Market rent and current rent allocations per area can be reported using the Tenancy Schedule report. For guidance on setting up specific area types, please see the section on Area Types.

Viewing Property Areas

To view property areas, you'll want to:

1. Select the desired property from the Properties tab.
2. Click on the Areas tab in the left-side menu.

The areas list is split into two categories: Occupied and Unassigned (or vacant). Occupied areas show links to the current tenants, allowing easy access to their tenancy files.

Adding a Property Area

When it’s time to add a new area:

1. Click on New Area button on the property’s Areas page.
2. Enter a unique Title for the area.
3. Select an existing Area Type or create a new one as necessary.
4. Fill in the Area Size and choose the Unit of Measurement (e.g., m2, ft2, ha, ac).
5. Input the Annual Market Rent or Cost per Square Metre. The system will then calculate the corresponding value.
6. Click Save to store the new area.

Editing or Archiving a Property Area

To modify or remove a property area:

1. Find the Area you wish to update on the list and click the link.
2. Select Edit to change details.
3. After making changes, click Save.
4. If you input a new size, the market rent and cost per square meter will dynamically update according to the new dimensions.

To archive an area and remove it from active listings:

1. Navigate to the area you wish to remove.
2. Click Archive to retire the area from the property.

With these tools, you can effectively manage and maintain a structured overview of all areas within your properties, ensuring precision in leasing and upkeep.