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Field Definitions

Miscellaneous fields

Increase rent yearly by is the default rent increase amount.
Increase Rates for Ontario

Year	Amount
2006	2.1%
2007	2.6%
2008	1.4%
2009	1.8%
2010	2.1%
2011	0.7%
2012	3.1%

Automatically decrease rent by is the default amount tenants' monthly rents will be decreased from the maximum rent set in Main Tenant Information.
Round lets the rent be rounded.
NSF Cheque is the default amount charged on an NSF Cheque when done through the NSF Charges screen.

LMR Action

If you must pay interest on tenant Last Month Rent (security deposit), this field explains what to do with the interest. These actions take place when Apply New Rents are applied in Batch Mode.

Field Options	explanation
None	Choose this option if you do not pay interest on LMR deposits
Increase LMR	This transfers all the interest to the tenant's LMR deposit
Issue Credit	This transfers some interest to tenant LMR deposit to have deposit equal tenant's increased rent, and applies all remaining LMR interest as a credit in the month on rent increase.
Issue Check	This transfers some interest to tenant LMR deposit to have deposit equal tenant's increased rent, and issues a check to the tenant for the remaining LMR interest.

LMR Interest Rate

This is a non-operating field for most users. You will told by one of Rent Magic's staff if you need to use this field. Otherwise, just leave it alone, because Rent Magic ManageUDA systems have a preloaded internal table that calculates the interest on LMR or Security Deposit interest automatically depending on which province the building is in.

Setting LMR Letter

If an LMR action other than None is selected, then a letter to tenants, explaining what action has been taken with their LMR interest, is generated. If you do not want a tenant letter do not click Change and select a template letter.
To choose which template to send with the LMR actions:

Click the ‘Change' field next beside the action for which you would like to change the letter.
Click the template.
Click “Select” at the bottom.

Default Action

This field tells Rent Magic what to do with the automatically generated LMR letter.

Options	Explanation
Save and Print	This will save a copy of the letter generated to the tenant file, and then print the letter.
Just Save	This will save a copy of the letter generated to the tenant file, but will not print a letter.

Charge Parking Separately

Use this option if you require a separate entry on the Tenant Ledger. The system will automatically charge rent first and a separate entry for parking. (You must select this option if you are charging Parking to a unique Parking GL. i.e. you are not lumping it together with Rental Income.)

Default Accounting Company

From the dropdown box select the accounting company for this building. The accounting company must already have been created. See Create New Accounting Company.

If Integrated Accounting is disabled, you will be able select None as the accounting company.

Use Defaults from Accounting Company

The accounting company has been assigned default accounts for Bank, Rental Income,
LMR Holding Account etc. See Company Defaults. To use these default accounts for this building make sure the box is checked. If for some reason you do not want to use the accounting company defaults for this building, uncheck the box.

Save or Cancel

To save all your changes, press Save. If you want to revert, press “Cancel”.
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Building Defaults

Table of contents

Field Definitions

Miscellaneous fields

LMR Action

LMR Interest Rate

Setting LMR Letter

Default Action

Charge Parking Separately

Default Accounting Company

Use Defaults from Accounting Company

Save or Cancel

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