For residential block and estate managers, administering service charges is the backbone of your business. But with service charges now one of the most common causes of disputes between managers and leaseholders, improving customer service must start with having better and more efficient processes in place. MRI Qube PM is designed to reduce the burden of service charges for investors, agents and block managers. With a comprehensive set of system reports and tools, you will benefit from effective service charge budgeting and quick and accurate production of even the most complex reporting requirements.
Trusted software from a proven provider
The market's most widely implemented functionality for service charge management
Budgeting
Record current and future budgets and forecasts as well as annual budgets, enable budgets to be revised during the service charge year, add budget notes, upload information from Excel and retain a record of previous budgets and expenditure.
Unit apportionments
Record unit apportionment percentages for multiple schedules, enable unit apportionment percentages to be varied during the service charge year and retain a history of unit apportionment percentages when varied.
Tenant statements
Produce year-start statements identifying anticipated service charge expenditure, produce year-end statements identifying actual expenditure and tenant balancing charges – plus create customised statements.
On account charges
Utilise routines to calculate and create on account charges based on unit apportionment percentages and budgets, plus other relevant factors such as caps.
Service charge caps
Apply tenant caps to the total service charge contribution and apply caps to schedules and specific expenditure areas including across multiple service charge periods.
Balancing charges
Calculate and post balancing charges based on expenditure, unit apportionments and tenant caps, post credits as appropriate and manually post balancing charges as preferred.
Management fees
Handle fees a variety of ways, including: A budgeted amount paid periodically over the term of the service charge, as a percentage of expenditure, as a percentage of income or as a percentage of expenditure for a period where an agreed threshold has been exceeded.
Mixed-use and hierarchical properties
Harness a routine to calculate and clear down irreclaimable VAT associated with non-commercial units within a mixed-use building, while also handle estate service charges separately from those associated with buildings due to hierarchical property structure.
Residual costs
Handle residual costs (e.g. costs associated with tenant caps and void units) appropriately, enable monies to be transferred from a non-service charge fund (e.g. Rent Fund) and bill costs to the owner as appropriate.
Owner void statements
Identify units and their associated void costs and present information as statements to the owner.
Accruals and prepayments
Use in-built routines to post accruals/prepayments based on available data.
Flexible payment methods
Fund clearance timescales and ensure monies are not spent before they have cleared in the bank.
Fund transfers
Enable monies to be transferred between service charge and other funds, while monies can also be loaned to, and repaid from, the service charge.
Extensive reporting capabilities
Compare budgets to actual expenditure, provide a breakdown of service charge reconciliation, analyse profit and loss, issue balance sheet reports and implement trial balance reports and tenant liabilities reports.
MRI Property Management – Become a digital-first visionary
To win in today’s competitive real estate market, you need a modern platform that provides your team with the right tools and helps them deliver great service. That platform is already here, and you can join thousands of brands using it right now to achieve their vision of growth.
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