Resident® Version 3 – The Big Money Update

With Version 3 just around the corner, we thought long and hard about when we should launch and could we squeeze in one or two killer features to make your lives easier when managing blocks.

Well, we are going to, and we think you’re going to like them…

Automated Bank Feeds

It’s very complicated behind the scenes, but won’t be for you. Add your credentials once, and that’s it – your bank is connected and you can view as many accounts as you have. No more CSV files or spreadsheets, just real time bank data on demand. Reconcile away with a few clicks, saving many hours of essential admin.

An Arrears system unlike any other

Well we have built it, and as ever, there are no hidden fees with our platform for major updates. So what can it do?

  • The arrears process has 8 steps, namely: first letter, second letter, solicitor instructed, LBA (letter before action), lender approached, proceedings issued, judgment obtained and settled.
  • Litigation solicitors can be invited to the system as custom users to make their notes in the arrears section.
  • You can track when and who made each step, track all messages and notes against each arrears process. And settle it at any time (if, for example, the leaseholder pays everything in full, whilst half-way through the process).
  • You can see the arrears amount at the beginning of the process, compared to the current amount of debt.
  • Arrears amount is calculated on a pro rata basis for leaseholders paying by standing order or direct debit.
  • You can see arrears per block (and a total per block in the new global reports section).
  • Historical arrears will be tracked too.

Pretty special? We think so. Coming to V3 (hence the little delay) but oh so worth it.