MRI Software is proud to announce Version X.5, the latest release of our web-based real estate accounting and property management software. Learn more about the powerful new functionality and feature enhancements that enrich the user experience and improve operational efficiency. Click here for a preview of the powerful navigation features.
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X.5.9 | X.5.8 | X.5.7 | X.5.6 | X.5.5 | X.5.4 | X.5.3 | X.5.2
The latest features included in the X.5.9 release of MRI’s Financial Management are demonstrated in the video next to this description.
To give users more control over the interentity journal entry process, manual interentity entries can now be made from the manual journal entry page. Previously, this field was only populated via system generated journal entries from CM or AP. This feature has been added to both the prior period and prior year journal entry detail screens as well. In addition, on those two screens, users will now see the relevant segmentation fields (if they have been enabled in the Enterprise GL set up).
Enhancements continue to the Bank Reconciliation process as well. Administrators can now choose to require a bank reconciliation to be in balance before it can be committed. If it is not in balance, an error message will prompt the user to address this and prevent them from committing the bank reconciliation. If this feature is disabled, an error message will still alert the user, but will not prevent them from committing the out of balance bank rec.
Finally, for those users in ANZ, a Tax Invoice Statement that is compliant with the latest regulations has been developed and is now available.
With the release of X.5.9, Investment Accounting users will notice three significant enhancements. First, the ability to create Cross Group Journal Entries is now possible. Several updates to options and security settings are required to enable this feature, so please refer to the adjacent video for the steps involved. The next two features have been released to deliver more granular visibility into the results of standard calculations. First, when users are tracking shares, up to 17 decimal places can now be displayed in both the Number of Shares and the Shares Issued fields wherever they appear throughout IA. Next, the XIRR calculation on the Partner Capital Statement has been updated to display up to 8 decimal places, which aligns it more nearly with other calculations performed as part of this process.
The latest features included in the X.5.9 release of MRI’s Commercial Management are demonstrated in the video next to this description.
The first enhancement to explore is designed to expand the functionality around managing national tenants. In X.5.9, a three level hierarchy can now be configured to show Company Group, National Tenant, and Lease. Information can flow from the top level of this hierarchy all the way down to the lease level, eliminating repetitive data entry and ensuring data accuracy. This will also increase capabilities around grouping and reporting for national tenants. In addition, these new data fields can also be used as filters on the new CM Collections screen or when configuring reports for bad debt reserves.
Next, the system will now post entries when batch apportionment is set up. Just as before, users can enter a date range for the batch apportionment, however, instead of being purely informational, the system will now post that batch in the first affected period of the date range specified.
In an effort to provide greater visibility into and information about a specific Recurring Charge, a user can enter memo text and then customize reports to allow this memo text to display.
As of this latest release, users will have greater flexibility when searching for data on the Tenant Account Activity page. And, once the results have been delivered, users can focus their search for specific data points, by hiding columns, grouping the data to meet their needs, or easily exporting the data to Excel.
Finally, we have removed the Preview status for three of the popular new dashboards, making them available to all users without the need for Administrators to enable them. The AR Manager Dashboard, the Lease Summary and Property Management Dashboards are all now out of Preview Mode. Please note that the Property Management Dashboard has been renamed to Operations Dashboard.
In the X.5.9 release of MRI Residential Management, the capability to set up, schedule and communicate with residents and staff about property amenities is now available. Your residents can now search for and reserve a variety of different property amenities such as community rooms, pool cabanas or visitor parking online, without the need for direct contact with your teams. Set up is easy with an intuitive screen that walks your property management users through the process of adding information about the amenity such as title, location, available hours, and any restrictions. If a fee is required, users can set up appropriate charges, including how the fee should be calculated or if a deposit is required. Finally, charge codes can be assigned as well. These fees can be assessed either at the time of reservation or a the time that the reservation is approved.
Communication with the resident about their reservation has also been streamlined. Automated emails can be generated by the system to send out confirmations and reminders to the resident and sent to the email address supplied at the time of the reservation. In addition, any fees associated with the reservation are added to the resident ledger and a notice about the fees charged can be sent as well.
Two additional videos have been produced to enable you to utilize this new feature more easily. For information about the Set Up of the Amenity Reservation tool, CLICK HERE, and for a description of the Automated Email process, CLICK HERE.
The latest features included in the X.5.8 release of MRI’s Commercial Management are demonstrated in the video next to this description.
Collections Page Enhancements – First, a new disputed transactions filter was added to allow users to choose what they wanted to see and prioritize their activities based on what they see. In addition, users can now set up to four of their own custom collections filters.
Email a late letter – We have significantly improved the process for users to email late letters to multiple tenants at one time and even allowed them to enter a cc email address that will automatically receive a copy of each letter. When a standard late letter is sent, a note will be automatically added to the Lease Notes Detail referencing that this late letter has been sent.
Two new Automated Payment Rules – The ‘Sum of All Current Month Recurring Charges’ and ‘Sum of All Recurring Charges’ rules help automate the application of cash receipts for greater efficiency.
In a project that will span upcoming releases, we have launched the first phase of Batch Segmentation in Commercial Management. These segments allow for greater insight into reporting and organization of your transactions.
Finally, a new Collection ID field was added to the Lease Details Page to connect a lease with its corresponding Contract Intelligence record. For users interested to learn more about MRI Contract Intelligence, please contact your Account Manager.
The latest features included in the X.5.8 release of MRI’s Residential Management are demonstrated in the video next to this description.
In 5.X.8, we have allowed greater flexibility when tracking concessions. Users will now be able to choose specific Move-IN/Transfer concession codes per property and will have the options to choose a specific renewal charge code.
New for clients who use Event Based Billing, users can now perform live billing when adding in a variety of rentable items fees. A charge or credit will now be automatically added to the resident ledger.
Finding a prospect will be easier than ever with a complete redesign of the Select a Prospect page. Users can customize the fields that they see. When selecting a prospect, users will be linked right to the standard guest card.
International clients will also have greater flexibility when adding or editing step ups to both renewal and prospect leases.
The latest features included in the X.5.8 release of MRI’s Financial Solutions are demonstrated in the video next to this description.
To make accessing relevant data more efficient, Segment by Segment filtering was added to the Journal Entry and Invoice Entry pages. This will also only allow specific segment/value combinations to be selected for greater accuracy during entry and visibility during reporting.
Corporate AR Batch Entry also now allows segment filtering on the Cash Receipts Detail Page and Charges and Credits page.
For Enterprise GL users, the new Accruals Processing feature allows users to create accrued Journal Entries based on invoices or Purchase Orders. Additionally, there is now an option to include all Unapproved Invoices for Expense Periods for a complete view of all invoices.
In Accounts Payable, users can more easily print a test payment without working through the entire process first. And, when searching for an invoice, a new ‘Amount Type’ filter has been added to allow users to search for all invoices, positive invoice amounts or negative invoice amounts.
For General Ledger users that don’t close their GL periods every month, there is greater flexibility to manually post a recurring journal entry, rather than only posting via the GL closing process.
There is more to cover, so be sure to click on the video for all the latest information!
The latest features included in the X.5.8 release of MRI’s Investment Accounting are demonstrated in the video next to this description.
The first new feature to explore is the ability to add multiple contacts for a single investor, enhancing the CRM capabilities of Investment Accounting. Future features will be added based on this functionality.
There is now an ability to assign investment attributes and associate these attributes to investments. These traits can be tracked over time for greater visibility.
Users will find that calculating complex capital transactions will be easier and more efficient. They will be able to run multiple waterfall accruals at one time, process a hypothetical liquidation and upload preferred return balances.
The latest features included in the X.5.7 release of MRI’s Residential Management are demonstrated in the video next to this description.
Facilities Management links – Additional links have been added to the Service Request Menu within Residential Management. Users are now able to access quick links to print work orders, purge workorders, access the preventive maintenance schedule, and create preventive maintenance workorders with fewer clicks.
Flexible renewal concessions – Users are now able to apply a concession to a particular period or periods during the renewal process. They now have greater flexibility to apply these concessions rather than being limited to the first full month or spreading a concession evenly over the full term. For added visibility and control, users can set up and choose an allowance code for concessions.
Statement of deposit report – This report has been updated and reformatted to offer a cleaner more streamlined experience either in the detail or summary versions.
Note that this new feature requires an Enterprise General Ledger license and Purchase Order license.
Creating journal entries for Accrued expenses has been made more efficient by populating directly from the information contained in an invoice or purchase order. Simply select the invoice or purchase order to accrue and line items will be created for each expense in the invoice along with line items for the matching accrued expense accounts.
The latest features included in the X.5.7 release of MRI’s Budgeting and Forecasting are demonstrated in the video next to this description.
Modify Budget or Rolling Forecast Process – New reload options have been added, giving you the ability to select the budgets to modify, reload inflation indexes, seasonal indexes and RM assumptions.
Flat prospect entry – Using enhanced suit view option in the Commercial Management Workbook, you can easily create a basic prospect with relevant data such as suite and occupancy dates, recurring charges, lease cost and commissions, recoveries and more.
Enhanced B&F Calculation Repot - A new feature has been added to give users more flexibility to see the data they need with the option to hide the calculation reports from the communication center.
The latest features included in the X.5.7 release of MRI’s Investment Accounting are demonstrated in the video next to this description.
In this release, we have enabled users to change the map code for a relationship for which a consolidation was previously processed, and they can also add an end date for a previously consolidated relationship. In addition, we have made processing files more efficient with improvements to the Multilevel Batch Maintenance Header page, making it easier to upload a template and subsequent files. Within the Elimination and Adjusting Entry menu, a new field of Source Entity has been added to the Manual Adjusting or Elimination Entry screen. Including this information will make reporting more accurate. Reporting overall has been enhanced in this release, including the Comparative Balance Sheet with notes, the Comparative Income Statement with notes and a new Transaction Search report has been added. Finally, the X.5.7 release improves Multicurrency functionality and enhances support for multicurrency ownership structures.
The latest features included in the X.5.7 release of MRI’s Commercial Management are demonstrated in the video next to this description.
In addition to adding features to the web version of MRI Commercial Management, we have created an option that allows for Credit Apply Batches within the Commercial Management Batch preview. The Batch Entry Interface remains in preview mode as we continue to develop functionality around these screens to improve the user experience.
With the new ‘Enable Paging Option’ from the Collections page, users will now have the ability to easily navigate between pages while searching through many records for a particular tenant.
The latest features included in the X.5.6 release of MRI’s Residential Management and are demonstrated in the video next to this description.
Calculated Security Deposits – Based on legal requirements in markets across the world, this new feature provides a way to calculate security deposit amounts based on weekly or monthly rent and restricts the entry of variable amounts at the time of the lease.
Reservation fees – This allows companies to require applicants to pay a fee or earnest money for move-in. You can easily set this fee by choosing from among three different calculation methods and you will not be able to schedule a move-in in MRI until this fee is collected and recorded. To ensure that this is properly communicated, this feature is closely integrated with MRI Prospect Connect and can be quickly enabled in that application as well.
Bulk email resident statements – Save time and make your property team more efficient by allowing them to schedule an event that emails residents their monthly statements. This email can be provisioned as a one-time event or as a recurring event. You can select from lists of current residents or new residents and configure the email with an intuitive set of options including recipients, subject line, body copy and event frequency, among others.
Subsidy charge codes - This new option allows users to mark the charge code as a subsidy, and subsequently excludes the charge marked as a subsidy from processing the payment or credit on the SODA report. This feature is designed to assist Affordable Housing clients that have government subsidies, while providing a solution that eliminates financial risk.
We are pleased to release a preview of the new dashboard for Residential Property Managers. Our product management team has chosen to release this in fully functional preview status to gain additional insight from the users in order to fine tune the information available and layout. As you utilize this dashboard, please take a moment to complete the short form and submit your feedback.
Once this intuitive new dashboard is enabled from the Set Up and Maintenance menu, you will have a choice of ten different panels containing data on a variety of key performance indicators. From a calendar view of upcoming tasks and activities, through views that include occupancy, availability, renewals, and service requests, your team is provided a comprehensive view of the performance of each property. Easily customizable, users can select panels to show or hide and create a personalized view of the information most relevant to their day to day roles.
The adjacent video demonstrates each of the panels, the information available and how to customize each view in more detail.
Alternate Numbering – This new feature is now available for General Ledger Journal Entries and Accounts Payable Invoices and provides an alternate method to sequentially number journal entries and invoices in relation to the owner or country in relation to the entity associated with a given journal entry. This alternate number system delivers added accountability for tracking journal entries and invoices. This also applies to journal entries coming from corresponding MRI applications such as Commercial Management, Job Cost or Accounts Payable. Intuitive new reports are now available based on the new alternate numbering functionality to facilitate the audit process.
Bank Reconciliation – Building on functionality released previously, the new Bank Reconciliation solution now provides users an easy to use migration too, visual aids to identify activity and prompt action. A new webinar outlining all the functionality in the new Bank Rec can be accessed by clicking here.
The latest release of MRI’s Budgeting and Forecasting solution contains updates to provide users greater visibility into relevant information and provide more efficient management of multiple budgets at one time. Please see the adjacent video for a detailed demonstration of these new features.
Enhanced Suite View – This enhancement includes multiple user experience updates within the Commercial Workbook to surface even more information for property leasing decisions. New functionality includes the ability to adjust prospect and renewals as deal dates change, easier tools to indicate leasing assumptions made, and sliding adjustments to term start, end or length that cascade through lease calculations.
Adjust Dates – This functionality allows users to change the start and expiration dates within Commercial Management workbooks and have these changes flow to other date related set ups within the lease.
Manage Budget Approval Status - Ability to approve or reject budgets requires very specific conditions that today force actions one budget at a time, too time consuming for clients to effectively manage large portfolios of properties. Users will now be able to take new actions from Manage Budgets page including:
These new bulk actions will save a significant amount of time and enable managers to keep budget statuses in sync.
General Ledger Consolidations - The new release adds more flexibility when consolidating General Ledger transactions. Subject to the permissions of their roles, users can now consolidate transactions by project and portfolio. This is in addition to the entity consolidation which is already part of the feature set.
Custom Segments - Currently, General Ledger supports enhanced segment filtering and reporting to provide detailed insight where required. With the release of X5.5, enhancements have been made to the setup of Custom Segments to allow for filtering by entities.
Segmentation Columns - Enhancements have been made to the GL Inquiry in order to show Segmentation columns when Segmentation has been enabled. This allows users to quickly and efficiently view segment details.
Reopen Bank Reconciliation - For those users who may need to make an edit to a transaction that has already been cleared/is part of (the most recent or past) closed bank reconciliation statements, X5.5. allows them to re-open that statement subject to their role permissions.
AP Scheduled Transaction Sync - It's possible that multiple users will lock each other out, thus preventing each from processing its transactions. AP Scheduled Transaction Sync solves for this deadlocking issue by delaying the journal entries that are to be written to the Invoice History table (HIST). These entries will now be written based on the schedule set within the AP Scheduled Transaction Sync scheduled event.
Create (Fixed) Asset Report - The new release improves the performance of MRI’s existing integration with MRI’s Real Asset Management solution (RAM), breaking the assets being created/sent from MRI to RAM into batches of 25.
A/R Manager Dashboard – This new dashboard extends what was delivers a visual representation of Commercial Management info & tasks critical for to those users responsible for managing tenants, cash, past due rents, and collection activities. Previously, this detail was only available from a series of extensive reports that was time consuming and cumbersome to produce. With this data now available at a glance, users can identify key performance indicators and take action quickly. With easy to use customization tools, this dashboard can be personalized to deliver the most relevant detail to the users.
This dashboard has been released in preview mode and we welcome your feedback. Please take a moment to click the link to access the survey and send us your thoughts.
Link to MRI Lease Intelligence – This new feature strengthens the connection between MRI Commercial Management and the powerful Artificial Intelligence solution, MRI Lease Intelligence. A new link has been added to the lease view and will bring users to the corresponding lease source document and structured data in MRI Lease Intelligence.
Several new features and enhancements to existing functionality are delivered in the X.5.4 release of MRI’s Commercial Property Management solution. The adjacent video will outline these features and describe their set up and use.
Several features that have been released recently, have been enhanced. Managing the Collections process is critical to business operations, and Bad Debt Reserve can now be calculated on FASB amounts from with Commercial Management. Additionally, when adding a Disputed Item Lease Note, a new check box has been added to create a matching note in the Disputed Item Detail. Finally, Inclusive Tax Enhancements can be added to appropriate tenant transactions.
New features have been added to make entering and accessing information easier and more efficient. We have added a Lease Summary Page which allows the user to simply select the building, lease or suite and displays all key lease details on a single screen. This eliminates the need to uncover this information by searching across several screens and not only saves time, but reduces training needs. Batch entry is a key process to enter and manage ledger transactions accurately and efficiently. Now released as a limited preview, MRI has improved the user experience to ensure usability and high performance in the batch entry process. We invite you to share your experience by providing feedback during this preview period.
Often, the Budgeting & Forecasting process involves exporting files into Excel to distribute to appropriate team members. The development of the MRI Budget Export Report allows the export of multiple budgets at the same time, while delivering this information in a format that will enable these files to be easily and consistently imported back into MRI. In accordance with the latest regulations governing consumer privacy, we have added a residential data anonymization process to comply with GDPR regulations. This key information is now redacted when reviewing budgeting and forecasting data.
Like the CM and RM dashboards available in previous releases, X.5.4 brings a modern and contemporary dashboard to the MRI Financial Solution. This dashboard will deliver pertinent information at a glance and provides users with ‘Quick Links’ to access commonly used set up screens, process and reports. This feature is also in preview mode and we have provided a survey for you to share your feedback.
The X.5.4 release of MRI Financial Solutions continues the theme established in previous releases that is enabling users to Take Control of their General Ledger and associated financial and accounting tools. The adjacent video contains a summary of these new features and guides their set up and usage.
The Cash Map Balance Report has been added to quickly and easily run a report of cash account balances by entity, per a given bank/period, improving visibility and accuracy. In addition, several enhancements have been dedicated to the Bank Reconciliation process. : First, a new report has been created. The Bank Reconciliation Report by Period allows users to view a consolidated report showing bank reconciliation details for a given bank based on a certain period. Users are also able to perform multiple bank reconciliations per period per bank, allowing faster transaction status updates and helping to spot accounting errors/fraud more easily.
For users who wish to soft close several entities at one time, a ‘select all’ feature has been added to enable this requirement. In a similar development, MRI has delivered Account Entity Filtering templates to provide users the ability to set up a templates that can be applied to appropriate entities, making the process of setting up entity account filtering for multiple entities much more efficient and consistent.
GL Segmentation has long been a sought after feature in the Enterprise General Ledger, and MRI delivers it in the X.5.4 release. We recommend working with our professional services team to evaluate how best the apply GL Segmentation to your chart of accounts.
Finally, we have made significant improvements to the Variance Notes Entry Page to give users greater flexibility to add and administer variance notes so that greater visibility is possible for all key stakeholders.
Managing lead appointments and sending courtesy meeting reminders just got easier for users of Residential Management (RM) version X.5.4. The integration provides RM users key functionality of MRI Lead Management without requiring the full Lead Management module. This functionality includes the ability to:
At the beginning of this video learn about the interface setup of MRI Lead Management (0 to 3:14). This functionality is automatically setup for SaaS clients on X.5.4. Self-hosted clients will have to submit a case and install the MRI Lead Management package to complete set-up of this functionality.
Features Now Available on Web
Consumer Privacy Enhancements (3:57)
With the X.5.3 release, MRI Commercial Property Management now has enhancements to reporting capability, recovery calculations and the flow of information between CM and the General Ledger. In addition, powerful new dashboards are being rolled out to provide users quick access to evaluate Key Performance indicators and gain insight into the performance of the business against those KPI’s. Some highlights of this release are covered in this corresponding FLIX video and include:
Journal Entry Descriptions: Multiple options for transaction descriptions from CM and Corp AR are now available and make for easier review of GL reports.
Real Time Dual Currency: The solution enables users to maintain both the entry currency and base currency for better visibility and reporting.
Non-retail Recovery Caps: Users can eliminate the need for custom calculations and formulas for office recoveries. As they can manage both capped and uncapped accounts in the same pool.
MRI Financials has received a host of updates in the X.5.3 release. In this adjacent video, we will highlight some of the new features and how to access them. Some of these features include:
Improved Usability in Variance Notes: With Excel-like data entry with notes tied to run-time options and financial format, adding and accessing variance notes is easy and more efficient.
Enhancements to Comparative Income Report: New elements such as Budget vs Budget and Actual vs Actual have been added for greater visibility. In addition, a new report called Comparative Balance Sheet with Notes has been added.
GL Inquiry Enhancements: Keeping with the theme of surfacing variance information quickly and easily, a variance column has been added to GL Inquiry which shows a Budget vs Actual. Users can easily switch between this view and the ‘total’ column by checking the box above the column.
Development within the Accounts Payable module has delivered ease of use features around adding new vendors during invoice entry and allowing users to easily save attachments directly to a vendor record. Finally, vendor maintenance can be accessed from the AP menu.
Finally, AP Aging report enhancements allow for easier reconciliation of the AP Subledger with the General Ledger.
Enable/Disable Include Late Fee Counts (:20)
Users now have the option to determine if late fee 1 and late fee 2 are added to the resident’s total late fee count. This new option is enabled by default, but the late fee counts can easily be disabled in Late Fee Setup. This enhancement gives users the flexibility to utilize late fee 2 to calculate other administrative fees, such as legal fees without charging the resident.
Undo Move is a Centralized Process (1:40)
Multiple enhancements have been implemented to improve efficiencies when undoing move ins, move outs, and transfers. This improved functionality allows users to undo scheduled moves for residents who had previously transferred units and transferred balances.
Easier Access To Resident Information
Property managers can easily see and understand their data, act on it, and manage their work. Users can quickly see and drill into details of their property calendar, visualize occupancy and renewal KPIs, and access snapshots of follow-up activities, service requests, and much more.
The “Property Manager Dashboard Preview” is a phase one release of the enhanced Property Manager Dashboards, giving users the opportunity to see, interact with, and provide feedback that will drive enhancements and new features.
In this latest release, MRI Financials users will notice new features and functionality, performance improvements and navigation and form redesigns that make the tools even easier to use. A consistently requested feature has been the ability to soft close an entity or period. This is now enabled in the Enterprise General Ledger and allows users to soft close a period for review, while still allowing journal entries in a soft closed GL period. The entity or period can be easily unclosed and soft closed again until deemed ready for the actual close. In an effort to improve efficiency and accuracy in AP, the Invoice Entry screen has been updated. As entries are made, the ‘current total’ will adjust, reflecting each change.
Multicurrency functionality has been added to Budgeting & Forecasting in X.5.2. Current B&F clients are unable to effectively budget for multiple currencies with today’s solution. Post to GL now has a Currency Code and Spot Rate columns that enable the user to choose a currency and spot rate and post to that currency when International Multiple Currency is installed. Now users can utilize multi-currency functionality from the time the budget is created (and before with setup) all the way through posting the budget to GL.
AP and GL reports have been updated to include additional Fixed Assets columns, including Asset Class, Asset Code and Asset Status. This continues to strengthen the integration between Fixed Assets and MRI Financials, delivering on the promise of more efficiency and accuracy through automation.
Collections: (Disputed Items) Users can now flag, track and resolve tenant ledger charges under dispute from the Collections page. This new process allows our clients to keep track of which charges are under dispute, when they were first disputed and why the dispute took place. Tracking this information will result more informed communication with the tenant, expose billing mistakes, and make it easier to lessen the number of charges that ultimately become delinquent when a dispute takes place.
Co-tenancy: Users are now able to flag and track leases subject to co-tenancy clauses. These can be very complex ‘if, then, else’ statements and have historically been stored in memo cells in MRI & other software, making tracking & analysis difficult. These new features, help surface this information for better visibility into these critical relationships.
Suite Type Area Usage: Property owners need to track and record transactions for things that aren’t leases in the building but affect tenants in the building (due to the way land, tax parcels, recovery pools, and buildings are defined). Because these tracked items aren’t “true” leases, they can’t appear on certain reports sent to lenders or owners to report performance of the property. The addition of the Suite Type Area Usage allows our users to accommodate those unique suites by having the ability to control how they are displayed on a rent roll and how they contribute to the total area of a building.
There are several updates here as well! Many of the updates help to reduce friction in the leasing process and provide leasing agents faster ways to collect data or rent. Some of these new features include:
A new tab labeled ‘Invite Additional Applicants’ has been added to Prospect Connect. Co-residents can now be invited to an existing application via guest card.That’s not all that is new in Prospect Connect. When enabled, a ‘Rent Interval toggle switch’ will be displayed on the Search page, the Lease Details card and the Summary of Charges cards. The user will be able to toggle between monthly and weekly rents.
Reporting Enhancements
The Calculate Management Fees Report is now available in MRI for web. For a detailed look at this functionality and many of these new features, watch the adjacent video. In addition, the Resident Statement Report has been refreshed to display more relevant information, making it more accessible for residents to read and understand.
With a premium placed on securing personal data today, MRI now offers the ability to mask SSN within reports including the Resident Profile Report, DHCR Resident Profile Report, and the Applicant Waiting List Report.
What else is new in the Connect Suite?
There is new functionality around flexible billing options, the ability to use terminology applicable to their own businesses and improved efficiency around managing early terminations. Let’s look at each:
Flexible billing options: Two new aspects here. First, properties can now charge First Month’s Rent on their Resident Connect portal before a resident moves in. And, the ability to select Prorated + Full Rent Amount under the Collect First Month’s Rent option has been added.
Swap Terms: Resident Connect now supports the use of Swap Terms set up in Alternate Terminology in MRI in portal custom text elements and email templates.
Notice to Vacate without Renewal Offers: In another example of ways this release reduces extra work and improves efficiency, Resident Connect will now allow residents to submit a notice to vacate without active renewal offers.
Finally, there are new features in Callmax Automated Communications. These include:
