We are a Real Estate company and finance land (like mortgage companies) but our business is VERY different and the usual mortgage or loan software out there does not do what we need. We primarily sell land not houses, but we have rental houses. Most offer too much product for high prices (and we won't use 1/2 the product) or it is not customizable to suite our needs. We have tried several 'off the shelf' softwares and wasted a lot of time importing our records only to have to export them out to our old system because the new software just didn't work correctly.
We need SOME of our accounts to figure principal/interest, SOME straight rentals and SOME a Lease to Purchase custom percentage of the rent goes toward the option future purchase. Each customer has different payment parameters and we have multiple entities that own the properties the customers are financing/renting.
We need the software to be able to recognize if the payment we are posting is late and to break it down 1) Interest 2) Principal 3) Late Fee, so that if the customer did not include enough for the late fee there will be an outstanding late fee balance due (some of our customers NEVER pay their late fee no matter what we say, they think they shouldn't have to pay late fees EVER, so they have a running late fee balance). We need to be able to customize the way each payment is posted like we have to in Excel sometimes.
We do collect HOA Dues and Property Taxes from some of the customers; but these figures are seperate from their financing/rent. So we need to be able to see they owe it but it can't be added to their balance. We need to keep track of a Mobile County Revenue Commissioner Key # for each of their lots as well. Some people finance more than one lot together so we need to be able to input HOA & PTax info in one customer account but for 1-10 seperate lots.
We need the software to also have the capability to produce a list of past due accounts so we know which customers we need to send a letter to or call. We need to be able to tag some accounts that they are in pending foreclosure/eviction so that we do not take payment from them. By law we cannot contact anyone in Bankruptcy so no late notices go to them. Or any other special tagging so that it notifies any of our employees who look at the account.
Search parameters we use to find a customer account = property ID or customer last name. So we need to be able to use the property ID (WBW # 39) multiple times, since we may sell it to 6 different people over a 4 year period and need to find a list of the name we sold that specific lot to. Not all of our properties have an address since we are the ones developing the land, we often sell 'raw' land.
We use a pier to pier network and we need to have multiple employees in the program (not necessarily in the same customer file) at the same time.
We need a place to keep notes from phone calls, old mailing addresses, etc.
We need to be able to customize the past due notices to meet real estate/rental laws (working needs to be particular). We need to be able to see in each customer acct what notice they were sent.
We need to be able to change a payment if we discover it was posted incorrectly. Some software will not let you delete the posted payment, it makes you do another entry to back out the payment. We need to post NSF payments (negative post of princ/int/lt fee) + add an NSF Fee. Sometimes we waive fees (late or nsf) and need to be able to clear one without it looking as if they paid it.
We need to be able to print the customer's account.
Would be nice if we could print paper 1098's.
Sending a past due notice by email straight from the system would be fantastic if possible.
We need to be able to drop an account from the past due report; purpose = if we Foreclosed/Repossessed/Evicted, we need to see their history and what they owed at FC/Repo but we don't need them in past due reports, etc.
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