Dear subscriber,
Welcome to our September 2023 newsletter. August was a productive month for us, and we’re excited to be continuing our work to build the world’s finest property management software. Well, at least the best that has been created specifically for Canadians.
At the moment, most of these updates relate to what we’re doing with the software. So, if you’re interested in the new features that are coming down the pipe, please read on.
Release v0.5.2 Deployed
Software version v0.5.2 has been deployed to the production servers and is now being actively used by landlords and property managers. The three main features that you’re likely to notice are:
1. Trust Accounts– Property managers can now manage trust accounts for owners of the properties they manage. A trust account is a special bank account that operates under the PM’s business name but is operated on behalf of the property owner.
Video: https://www.youtube.com/watch?v=wLiqMOVzgcY
2. OTT as Income Record — A one-time transaction (OTT) may or may not be considered income, depending on what it’s for. If the OTT is for a rent payment, it would be considered income. If it’s for a damage deposit, it likely wouldn’t be. This feature allows you to choose whether or not this transaction should be recorded as income.
Video: https://www.youtube.com/watch?v=DM_Y6P4F_KY
3. PAD Warning Message — If you make a change to a monthly rent payment while a transaction is either past the point of no return (4:00 PM CST on the business day before the transaction was scheduled) or is in-flight, you will receive a warning message. It’s perfectly valid to change the monthly rent payment whenever you want. But the effect may take place next month if you’re already past that point of no return.
Video: https://www.youtube.com/watch?v=xpQW6BajBNY
Of course, there were many other little features and defects fixed, but I won’t provide an exhaustive list of those.
Release v0.5.3 in Testing
Software version v0.5.3 has entered the testing phase. Meaning, that we’re done with the planned development, and are now running through our thorough testing phase to ensure that the software quality is up to the standards that you expect. The main features of this release include:
1. Profit & Loss Reports – P&L reports are a common financial report needed to communicate the total profits to property owners. This report is automatically generated each month. The property manager can review the report, make any necessary changes, and then publish the report. Once published, the property owner will be able to review the report.
2. TVR Quick Check – Some landlords and property managers will prefer to send a link to the prospect/tenant for them to fill out the information necessary for their Tenant Verification Report (TVR). However, the PM may want to take matters into their own hands and submit the information for them. Results come back within minutes. We’ll have a video on how to do this for the next newsletter.
3. CSV Import Upgrades – These are some general updates to make the CSV import system more robust, as well as the ability to upload Excel files as well.
Release v0.5.4 in Development
Software version v0.5.4 has started development, and we’ve already gotten a lot done. We’re targeting moving this into the testing phase by the end of September. Right now, the main feature is:
1. Team Member Accounts – A property manager (or landlord) may have multiple people who need access to their account. Therefore, to avoid credential sharing, we are creating team member accounts. The property manager will be able to create and manage team members. Team members will have access to everything in the account other than creating more team members.
We have a couple of other features that will go into this release; however, they still need to go through some more technical definitions.
DocuSign Integration
We have met with DocuSign staff and discussed a plan for integrating eSignatures into the StreamlineLS platform. We’re hoping to have this completed during the late fall. There are some really cool automation we can do to save you even more time and energy when running your business.
Parting Thoughts
Building software is a difficult task and requires a lot of attention to detail. However, as each month rolls by, and each release rolls out, we’re getting better and better. I couldn’t be more proud of what our team has accomplished so far. I’m looking forward to seeing what we are able to get done in September.
See you next time!
–Allan Redman (Streamline LS Founder)
