How long has the NOVO Property Management system been available?
The first version of the NOVO Property Management system was implemented in 2008. It covered property management in a large shopping centre. Since then, the NOVO Property Management system has been significantly expanded. In its latest version, it includes four modules supporting the work of managers, developers and owners of commercial properties from the moment of commercialisation through administration in the areas of property and facility management until the sale of the property.
Each implementation of the NOVO Property Management system enriches its functionality. In recent years, the area of reports and analyses available in the system has also been significantly expanded.
How many properties can be managed simultaneously?
The NOVO Property Management system is highly flexible and scalable, enabling the management of any number of shopping centres and chains, office buildings, warehouses, public facilities, etc.
Thanks to full Internet access, users located in different countries can use the system without even realising that they are all using one large database. There is also no limit in the system on the number of entities, premises, lease contracts, tenants or the number of equipment categories or the equipment itself that can be managed.
Is there a limit on the number of users of the application?
No. The NOVO Property Management system allows unlimited users to access the system, with monthly fees for using selected modules (NOVO Property Leasing, NOVO Property Management) depending on the number of users.
For the Facility Management module, where usage fees depend on the number of facilities, the client can grant access to the system to an unlimited number of users.
Does the system support all categories and types of settlements with tenants?
Practically yes. The NOVO Property Management system incorporates best practices from the commercial real estate market. It offers advanced rent billing, utility billing and re-invoicing, and a full range of operating cost accounting.
In addition, due to its flexibility, the NOVO Property Management system can be quickly expanded to meet the dynamically changing needs of the commercial real estate sector.
It is worth noting that settlements are made automatically, which saves a lot of time and ensures comfort of work for people responsible for these areas in the client’s company.
What reports are available in the system?
The NOVO Property Management system comes standard with a very comprehensive set of financial and operational reports supporting the day-to-day work of Property and Facility Managers, decision-making processes in strategic areas, and due diligence projects related to real estate sales. One of the most extensive reporting areas is receivables control – the system offers several different reports presenting data on tenant receivables in various time and content cross-sections.
The ergonomic architecture of the system allows reports to be created with virtually a single click.
In addition, to make the use of data contained in the system even more convenient, NOVO Property Management allows quick export of any report to an Excel spreadsheet with the correct formatting (numbers as numerical data, text as text data, etc.).
Some of the reports are also proactive, i.e. after they are generated, the user sees highlighted data that is critical for a given summary, e.g. in a report on lease security, the system user can easily see for which leases the security provided is about to expire, is already out of date or too low.
The NOVO Property Management system is also integrated with a Business Intelligence tool (data warehouse), allowing users to create virtually any report using functions familiar from Excel.
Does the system support foreign currency invoices?
Yes. The NOVO Property Management system provides full support for foreign currency invoices, including dual currency invoices, with the additional option of specifying different bank account numbers for individual items on the invoice.
How does the system support the handling of lease contract security deposits?
NOVO Property Management supports all types of lease contract security and proactively assists in managing this area. Dedicated system reports are used to monitor the status of contract security. The reports are proactive, i.e. after they are generated, the user sees highlighted data that is critical for a given statement, e.g. the user can easily see for which lease contracts the security provided is about to expire, is already out of date or too low.
In addition, the system allows automatic email alerts to be sent to those responsible for security, which further facilitates the management of this important area.
The system also includes an extensive module for handling document and correspondence with tenants, which allows you to automate the process of correspondence with tenants in areas such as lease contract collateral (e.g. the functionality of generating reminders).
Does the system work on mobile devices? Does it require any installation?
The NOVO Property Management system is a flexible solution – it works independently of the operating system and device type. It can run on mobile devices such as smartphones and tablets, as well as on computers with Windows or Linux operating systems. The only requirement is that the device has a permanent internet connection.
Does the system support electronic invoices?
Yes. NOVO Property Management offers electronic invoicing as standard, including the ability to monitor the delivery status of documents.
Does the system offer rent invoicing based on tenants’ turnover?
Yes. As standard, NOVO Property Management offers a feature that allows you to settle rent based on the turnover generated by tenants.
The advanced algorithm used in the system allows users to record tenant turnover at any frequency (daily, monthly, quarterly) and settle rent adjustments in accordance with the rent scales specified in the lease contract on a monthly, quarterly, half-yearly or annual basis.
How can the system support receivables management?
The standard version of the NOVO Property Management system includes a wide range of reports on settlements with tenants. Based on configurable reports presenting data in various cross-sections, you can effectively monitor the inflow of receivables from individual tenants.
In addition, the system offers users various templates for documents related to correspondence with tenants regarding the payment of receivables, including payment reminders, which can be generated from the system directly for a given tenant. An additional support feature is the possibility of grading payment reminders, which is an important element from the point of view of possible legal action.
The system also offers the functionality of issuing interest notes (based on different interest rates) individually or in groups for all tenants.
Can the system store documents related to a given tenant or leased space?
Yes. The electronic document archive is one of the key features of the NOVO Property Management system. Users can freely design the structure of electronic documents in the system (e.g. by owner, property, premises, tenant, lease contract, etc.) and store all documents related to their business activities in the system.
In addition, the document archive has a contextual document search function by phrase – users do not need to remember the name of the document or where it is stored; simply by entering a key phrase, the system will search for all documents that contain it. The archive increases the efficiency of the entire client’s team – all documents are in one place, clearly and logically catalogued and available at the click of a button.
How to settle operating costs when different tenants have different shares in different cost categories?
One of the key features of the NOVO Property Management system is its “algorithmic nature”, which means that it is capable of handling very complex calculation algorithms in areas such as utility and operating cost settlements. This results in a high degree of system flexibility and scalability of the processes that the system can handle..
This feature of the system is particularly important in the Polish market, where there is no standard lease contract and where agreements, even within a single property, can vary significantly in terms of parameters, e.g. tenants negotiate their share and its level in different operating cost categories.
Thanks to its flexible architecture, the NOVO Property Management system enables fully automatic settlement of operating costs, automatic issuance of adjustment invoices to tenants (or flexible settlement of overpayments) and preparation of individual, transparent settlements of operating costs for each tenant in the form of an attachment to the invoice.