Adding a Property | Sage Intacct Real Estate Help Center

Overview

Use the Property setup to create and configure a property in SIRE.

To access the property list, go to Setup > Properties.

From the Properties list, select Create to create a new property.

Choose the Property Source

The Property Location section is part of the General tab.

It provides two options:

New Property: Create a new property and send it to Intacct.
From Intacct: Select an existing property or location from Sage Intacct.

New Property

Select New Property when you need to create a new property in SIRE that does not yet exist in Intacct. SIRE will also create the corresponding location in Intacct.

Complete the following fields:

Property ID: Identifies the property location in SIRE and Intacct. It is required for a new property, must be unique, and can contain up to 20 characters.
Property Name: The name used to identify the property throughout SIRE. It is required, must be unique, and can contain up to 40 characters.
Entity Name: The Intacct entity associated with the property. This determines the entity where property-related transactions are posted.

From Intacct

Select From Intacct when the property or location already exists in Intacct, and you need to create it in SIRE.

Search for and select the property. SIRE populates the related property name, property ID, and entity information.

When a property is selected from Intacct, these values are not entered manually.

Additional Property Information

The Property Location section also includes:

Project: Associates the property with an Intacct project. Available projects depend on the selected transaction posting level.
Department: Associates the property with an Intacct department.
Class: Associates the property with an Intacct class.
Tax Solution: Available for Canadian companies and entities configured with a tax solution.

General Information

The General tab contains the property’s primary information.

Units Information

The Units Information section displays property unit totals, including:

Number of Units
Units Occupied
Units Leased

Status

Complete the property status information:

Property Type: Select the property classification configured in Company Preferences. This identifies the type of property in SIRE.
Current Interest Paid (%): Enter the current interest percentage associated with the property. Values can range from 0% to 99%.
Transaction Posting By: Select whether transactions are posted by Property or Entity. This determines the location or entity used for transaction posting and affects related project selection.
Last Scheduled Charges: Enter the date through which scheduled charges have been processed. SIRE uses this date when determining which charges should be included in subsequent scheduled-charge processing.
Last Late Charge: Optionally enter the date through which late charges have been processed. SIRE uses this date when determining which late charges should be considered in subsequent processing.

Occupancy

Complete the occupancy information:

Occupied Basis: Select whether the property occupancy is tracked as Occupied or Leased.
Start Date: Enter the date from which the property’s occupancy period begins.
Proration Method: Select how SIRE prorates charges for partial periods. Available options are Actual Number of Days and 30 Day Month.
Stop Date: Enter the date on which the occupancy period ends.

These fields describe the occupancy period and how charges are prorated.

Vacancy Loss

To configure vacancy loss, enable Track Vacancy Loss and complete the related fields:

Rent Basis: Select whether vacancy loss is calculated using Current Rent or Market Rent.
Proration Method: Select how vacancy loss is prorated for partial periods. Available options are Actual Number of Days and 30 Day Month.
Rounding: Select whether calculated vacancy loss amounts use No Rounding or are rounded to the Nearest Dollar.
Vacancy Loss account: Select the General Ledger account used to record vacancy loss.
GPR Account: Select the General Ledger account used for Gross Potential Rent.

These fields are required only when vacancy loss tracking is enabled.

Straight Line Rent

To enable Straight Line Rent, select Enable Straight Line Rent and provide:

Deferred Revenue Account (Debit)
Revenue Account (Credit)

The account fields are required only when Straight Line Rent is enabled.

Addresses

At least one address is required for a property.

For each address, provide:

Address Type: Select an address type configured in Company > My Preferences. Custom address types created there are available in this dropdown.
Addressee
Address 1, when applicable
Address 2, when applicable
Country
City
State
Zip/Postal Code
Contact Name
Optional Contact Phone
Optional Contact Email

You can select an existing contact from Intacct or enter the contact information manually.

To add another address, select + Add new.

Square Footage

At least one square footage record is required, and one record must use the Total square footage type.

For each entry, provide:

Square Footage Type: Select a measurement type configured in Company > My Preferences. At least one entry must use the Total type.
Value: Enter the square footage measurement.
As of date: Enter the date on which the measurement applies.

To add another entry, select + Add new.

Charge Controls

The Charge Controls tab is organized into three sections.

Automate Scheduled Charges

This section controls the scheduled-charge preview process and its email recipients.

GSC Process day: Select a day from 1 through 31. This is the day on which the Automate Preview Journal process runs.
Send To: Select the Intacct users who should receive the process email. Up to three recipients can be selected.

The process sends an email with the preview journal. It does not automatically create invoices.

If a GSC Process day is provided, at least one recipient is required. If recipients are provided, a GSC Process day is also required.

Advanced Settings

This section includes settings that affect invoice generation and late charges:

Merge Units on Invoice Generation: Combines unit information during invoice generation when enabled.
Subtotal Subject to Late Charges: Includes invoice subtotal items in the amounts considered for late charges when enabled.

Charge Controls at Item Level

Use this section to configure how individual Intacct item IDs are treated by SIRE processes.

For each item, select an Item ID and configure the applicable options:

Base Rent
Subject to Management Fees
Subject to late charges
Care, available for applicable Senior Care companies

Each Item ID must be unique. At least one Charge Control record is required.

Base Rent and Care cannot be selected for the same item.

Deposits

The Deposits tab is optional and can be used to configure property deposit types.

For each deposit, provide:

Type: Select a deposit type configured in Company > My Preferences.
Refundable: Indicate whether the deposit is refundable.
Liability Acct: Select the General Ledger liability account used for the deposit.

Interest setup is available for refundable deposits. Select Interest setup to configure the applicable interest information.

Late Charges

The Late Charges tab is optional and provides default late-charge settings for leases created under the property.

Property-level late-charge settings act as a template. They are copied to a new lease and can be adjusted at the lease level.

The settings may include:

Minimum lease balance
Suppress charge under
Process by
Late charge steps
Frequency
Repeat factor
Calculation type
Grace days

Find more details about the Late Charges setup in this article.

Management Fees

The Management Fees tab is optional.

A management fee can include:

Management fee name
Manager
Timing information
Basis calculation
Basis amount
Accounts payable information
GL accounts

Required fields may vary depending on the selected calculation method and company configuration.

Checklist

The Checklist tab is optional and can be used to record tasks that must be completed before a lease is started or terminated.

Checklist sections include:

Start Lease
Term Lease

Each checklist item requires a description.

Tax

The Tax tab is optional and stores property tax information.

Tax entries may include:

Tax ID
Year
Country
State
County
City
Land Value
Building Value
Improvement Value
Exemption Amount
Tax Amount

To add a tax record, select + Add new.

Insurance

The Insurance tab is optional and stores property insurance information.

An insurance record includes:

Insurance Type: Select an insurance type configured in Company > My Preferences.
Company: Enter the insurance provider.
Effective Date: Enter the date on which the policy begins.
Expiration Date: Enter the date on which the policy ends.
Optional policy and contact information

To add an insurance record, select + Add new.

Attachments

The Attachments tab is optional and can be used to store documents such as floor plans or proof of insurance.

To add an attachment:

Select + Add new.
Select Choose File.
Upload the required file.

Saving the Property

Before saving, review all required tabs and fields.

The property must include:

Required Property Location and General information
At least one address
At least one Square Footage record of type Total
At least one Charge Control record

Additional fields may become required when conditional options such as Track Vacancy Loss or Enable Straight Line Rent are selected.

Frequently Asked Questions

Where Do I Add a Property?

Go to Setup > Properties and select Create.

Can I Add a Property That Already Exists in Intacct?

Yes. Select From Intacct in the Property Location section and search for the existing property or location.

Property Type, Address Type, Square Footage Type, Deposit Type, Insurance Type, and related options are configured under Company > My Preferences. The available values in the Property setup depend on the preferences configured for the company.

What Are the Property ID and Property Name Length Limits?

The Property ID can contain up to 20 characters. The Property Name can contain up to 40 characters.

Is an Address Required?

Yes. At least one address is required for a property.

Is Square Footage Required?

Yes. At least one square footage record is required, and one record must be the Total type.