FairShare Software Questions
(BOMA’s Escalation System for Office Buildings)
Installation
How long does it take to install the software?
The free-standing software loads in less than a minute.
On how many computers may the software be installed?
The software is designed to run on any Windows based PC, laptop or LAN, and it may be loaded on an unlimited number of computers.
Licensing
How many buildings may I run on one license?
A separate license is required for each building or office complex (if the expenses are consolidated).
If I sell the building, can I transfer the software to the new owner?
Yes. The license and all data can be transferred to the new owner for a $25 shipping and handling fee.
Knowledge Requirements
What level of escalation theory is needed to use the software?
The program assumes that the user has a basic knowledge of escalation theory. Our companion book, The Escalation Handbook for Office Buildings is a good primer on the topic and helpful for both the novice and seasoned professional.
Reports
What type of reports can I generate?
The software generates an impressive array of reports, individual tenant escalation invoices and cover letters, and includes: summary and detailed reports for each expense pool, a three year comparison of expenses, and detailed billing summaries that help management review and approve the billings. Invoices and cover letters are generated for each lease enabling the property manager to explain any unusual items. The Capital Amortization and Gross Up reports can be used to explain calculations to tenant auditors. BOMA’s logo on the standardized reports indicate their support of industry-accepted methodology used throughout the software.
Does the software calculate the final reconciliations, the new prepayment amounts, or both?
The software is designed to calculate both the annual reconciliations in the spring and the new monthly prepayment in the fall. A separate set of reports, invoices, and cover letters is used for each billing.
Data Entry
Can I download data into the program from my main accounting package?
The program accepts imports of the chart of accounts and expense data. Tenant and lease data must be entered manually at this time. A future version will automate lease entry.
Can I extract tenant charges from the program back into my main accounting package?
The software prints a summary billing schedule, but does not create an import file at this time.
How much time will it take to set up my building?
The initial set-up requires loading the chart of accounts, annual expenses, and creating the different expense pools. Each tenant’s lease must be abstracted and loaded into the program. The time required will depend on the number of tenants in your building. A single tenant’s information can be loaded in one or two minutes.
Is there any limitation on how many different tenant expense pools I can create?
The program will accept an unlimited number of expense pools.
How does the program handle expense gross ups?
All gross ups are calculated using BOMA endorsed industry-accepted methodology as recommended in The Escalation Handbook for Office Buildings.
How does the program handle capital improvements?
Capital improvements may be amortized over several years, with partial amortization in the first year, if desired. The program also calculates interest and automatically carries the job forward each year until fully amortized.
What other information carries forward each year?
The chart of accounts and all expense pool info can be transferred to the new year with one keystroke. Expiring leases are dropped off at the end of each year, but continuing leases will carry forward until expiration.
How long are prior years’ data maintained?
All records are maintained indefinitely in the program. This proves invaluable in the event of employee turnover, tenant audits, or a prior year tax refund.
Support
How do I contact Support and how much does it cost?
Support can be reached by sending an email to Larry Mayerhofer at:
Larry@EscalationAdvisors.com
Support for the initial setup and general usage is supplied at no charge. We have encountered users who have had viruses or other local computer problems that corrupted the escalation software. If resolution of this type of problem needs to be referred to one of our programmers, the user will be charged $25 for each fifteen minute increment (pricing subject to change).
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