The Lynx team has been outstanding to work with from both sales and a programming perspective. The professionalism and follow through is extraordinary.
The multi report solved a number of problems with our monthly reporting process. Our package included 5 separate reports that needed to be printed, collated and mailed to individual owners and investors of our managed 3rd party portfolio. These reports average some 40 pages per property and took approximately 4 staff days to fully produce and get into the mail. We have now cut production time to 1 day and have virtually eliminated postage by e-mailing reports to clients. We estimate that the annual savings will be in the neighborhood of $30,000 and can provide accurate information to our clients more quickly.
Thanks again.
Sincerely,
Hugh Rider
V.P. Financial Services
Realty & Mortgage Co.
Chicago, IL
Multi Reporting Concept for Realty & Mortgage Co. – A Case Study
Realty & Mortgage Co. is a full service real estate firm with a focus on property management. The company has been in business for over 100 years and is based in the Chicago area. It acts as a fee manager for about 130 residential properties covering over 6,000 active leases.
One of the major problems for a fee manager is the periodic reporting to the actual owners of the properties. These reports must be produced on a timely basis and must be complete, accurate, and professional. In addition, the monthly reporting package consists of 9 different reports for each property.
In using the MRI Software, Realty & Mortgage Co. had a tool to support these requirements. However, with the size and scale of the operations, this reporting activity was both cumbersome and costly. The monthly production of these reports was taking 3 to 4 days per month. Each of these reports had to be printed, collated and sorted into the appropriate packages for each property. More recently, with the requirement to output the reports to electronic pdf files, it was difficult to cut portions of each file and paste them back together into the proper packages for each property.
Lynx Systems Inc. was able to help Realty & Mortgage Co. by automating the entire report production process. The Multi Report Concept was built so that all the reports could be combined. In a single run of the report for one or more properties, all the sub reports are now printed in sequence for each property. Only one launch form is necessary for all the sub reports because that launch form easily accommodates all parameters that any individual sub report requires. Another feature of the concept is that the appropriate page headers are printed for each of the sub reports. For Realty & Mortgage Co. the individual sub reports included:
Monthly Operating Statement, Comparative Profit & Loss Statement, Rent Roll, Monthly Analysis Of Security Deposit Changes, Check Register, Open Invoice List, General Ledger, Balance Sheet, Trial Balance
The Multi Report Concept allows any MRI client to customize and include any set of reports to be printed within the group. If multiple properties are selected, the page numbering begins at one at the start of the first report for each property. In addition, the Multi Report Concept allows the user to print any subset of the sub reports or all the sub reports, depending on the situation.
The output from the Multi Report Concept can be a traditional printed copy, or a pdf file. Software was added that allows a pdf file to be split into separate files. This means that one pdf file can be produced at the end of the month for all properties including all the necessary sub reports. Using this add-on program, that file can be split into the appropriate sub files for each property.
The Result: At the end of the month, the Multi Report Concept produces the complete set of owner reporting packages in about an hour instead of the original four days! Now that is property management in the 21st century!
Don Robinson
President
1-866-517-1088 ext. 263
drobinson@lynxsystemsinc.com
www.lynxsystemsinc.com
