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home/Knowledge Base/Rental Listing/How to create a commercial unit?

How to create a commercial unit?

10 views 0 December 25, 2022 mippsupportadmin

Follow the steps below to create a commercial unit:

Go to Property Management > Property.

Step 1: Create a property

  • Click ‘+New Property‘
  • Property Name & Address
    • Enter the property details: Name and detailed Address (you can search the address and it will be filled automatically)
    • Click Next
    • Select the property type as ‘Commercial.’
  • Property Contact Info
    • For CAM calculation
      • Type the ‘Area For CAM Calculation’ in sqft of the property.
      • Select the Calculation Method
        • Set $/Area- Will not take into account the property area.
        • Manual Base$- Will take into account the property area.
      • Select the Commercial Rent Tax (tax rate depends on the area of your property)
      • Click Next
  • Property Default Operating Account
    • Select the Default Operating Account (you can add a new Account here too)
    • Auto-generate Rental Invoice Turn On or Turn off (‘Rental Invoice’ will be generated automatically if you turn it on, or else it won’t) 
    • Select the Property managed by
    • Click Next
  • Review Property Info & Submit
    • You can review all the information provided and make sure everything is appropriate.
    • Click Submit

You will be prompted for ‘successfully creating a property’ and asked to add a single unit.

Step 2: Add Commercial Uni

To add a commercial unit, click ‘Yes, let’s add a single unit.’

Fill in the Unit Information:

  • Unit Number
  • Check ‘This is a commercial unit?‘
  • For Commercial Rent Calculation, provide:
    • Unit Area (sqft)
    • Yearly Rate ( /sqft)
  • Add the Total Number of Rooms and Number of Washrooms
  • Click Submit

The Unit is created. This is a Commercial Unit, shown on the top right, and its status is Active.

 

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