New York City has unique calculation and billing requirements for both the residential and commercial management industries.Yardi’s NYC feature-set provides all the tools necessary to track, calculate and bill these special charges - keeping the management company in full compliance with New York City’s regulations.
On the residential side, the city has programs in place to limit the percentage by which a landlord can increase the rent on certain units and requires landlords to send monthly rent bills to each tenant. In a single entry, enter the new increase rate for the year and our software automatically calculates each tenant’s new rent amount. Self-Mailer rent statements provided with this feature-set expedites monthly rent statements with a single process generating copies for company records and the tenant invoice copy which does not require an envelope to be mailed!
If you have commercial tenants, the city has a unique Common Area Maintenance charge (commonly referred to as Porters Wage Calculations – even though there are no longer porters!) which is usually assessed on top of all other charges. This charge typically only applies to older leases. There are also calculations and charges relative to fuel and electricity used in commercial buildings. The Yardi NYC feature-set handles these calculations and adjustments quickly while ensuring the utmost accuracy for you and your tenants.
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