We’re excited to introduce the R2 release of Sage Intacct Real Estate!
The release delivers a range of new features and enhancements to help you manage your real estate operations more efficiently. Key updates include the ability to move all property records—units, tenants, and leases—to a new property, support for calculating interest on security deposits, and the introduction of Straight Line Rent functionality. In addition to these highlights, this release includes several other improvements aimed at streamlining workflows and increasing financial accuracy across your portfolio.
Move All Property Records (Units, Tenants, and Leases) to a New Property
With the new Move Property feature, users can now seamlessly transfer all property-related data— including Units, Tenants, and Leases— to a new Property entity.
Key Features:
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Effortless Transfer: When you select a new entity, all related information (Units, Tenants, and Leases) is moved and copied over to the new Property.
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Data Integrity: The entire property structure is replicated, with all existing data and attachments, including Units and Leases, transferred as-is to the newly selected Property.
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Automatic Updates: New Units and Leases are created in the new Property with all relevant details automatically populated.
This functionality simplifies the process of reorganizing property records without the need to manually re-enter data, ensuring accuracy and efficiency.
Interest on Security Deposits
This update introduces improvements to how interest is calculated and credited for security deposits. The goal is to increase transparency, ensure compliance, and improve convenience for all parties involved.
Key Features:
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Interest Rate Setup: A new section in your settings allows you to define the interest rate for security deposits.
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Accrued Interest: Interest will accrue from the date of deposit until the deposit is refunded, helping to align with real-world financial practices.
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Refund Calculation: The interest earned on the security deposit will be included in the final refund when the deposit is returned to the tenant.
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Partial Refunds: In the event of a partial refund, the interest will be calculated proportionally to ensure fairness.
These changes will help streamline the handling of security deposits, offering clarity on how interest is accrued and refunded.
Straight Line Rent
The Straight Line Rent feature enables users to automate the calculation of rent payments that increase over time, distributing the total rent evenly across the lease term. This is particularly useful for leases where rent payments escalate at regular intervals.
Key Features:
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Accurate Rent Calculation: The system automatically adjusts rent payments based on the lease start and end dates, ensuring accurate pro-rated amounts during periods of change.
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Consistent Payment Schedules: This feature ensures that rent is spread evenly throughout the lease term, offering a simple and predictable payment structure for tenants and property managers alike.
This enhancement simplifies accounting for escalating rents and ensures smoother financial management over the course of a lease.