​"The YTD statement shows you the income and expenditure for a property (or properties) over the financial year.

If the owner has more than one property, you have the choice of running one page for each property or a Summary, which collects the data from all the owner's properties and puts into one statement.

Each column is explained below:

Year/Month: Each month by year in the date range you have selected

Rent: The amount of money received in through receipting as Rent

Intro.Funds: This is any money that was receipted in that was not rent, i.e money paid to you by the Owner. None of the money in this area has been subjected to management fees. This is for all money that has been receipted in using the Receipt Owner transaction.

T.Reimburse: This is any money that was receipted in that was not rent but still paid by the tenant, i.e water rates, tenant invoices. Like the Intro Funds, none of the money in this area has been subjected to management fees (Unless you do charge a fee on a tenant receipt invoice). This is for all money that has been receipted in using the Receipt Tenancy Invoice transaction.

Fees: This covers the management, maintenance, inspections and admin fees
GST: The GST component of the Fees

Invoices: This is any Creditor Invoice or Payment Expense that has come from the property

Payments: Any Owner Payments made. This does not necessarily mean the owner got the money, it just means that a Transaction was done using Payment Owner

Net: This column is the total of the whole line. For instance line 1 says that it was overpaid for the month of April. This usually means that there was an opening balance in the month before. You take the rent amount and add any intro funds, then you minus the fees, GST, Invoices and Payments, the total is the Net amount.

Invoice Analysis (incl.GST) – Expenses: Every invoice that went against this property during the selected date range will be broken down into an expense type. This is the expense type that was selected against the Creditor

Note: If an expense type looks incorrect, or you wish to show a more specific expense type, you can retrospectively alter the expense type on any individual transaction by locating it in the History area of Transactions, and editing the transaction. The YTD Summary will then show the expense under the new expense type.
​
Missing Months: If a month is missing, this usually means that that month was closed using a close-off date in the subsequent month. (The subsequent month might then show figures for both months)."

Source:

The above article was written by Mandy Welch of MRI Palace on 6 April 2023.

In addition to this, for Owners who are associated with multiple Palace databases, we've added a convenient feature. In the top right corner, an additional option will be visible, allowing Owners to effortlessly switch between different databases. With just a few clicks, they can now switch between databases and manage their portfolios with ease.

​Statements
​
At the end of every month (or mid month, depending on your workflow), Owner Statements are produced in Palace. These will be available to each Owner under the Statements page, where they can be downloaded as and when required.

Portfolio
​
​Here an Owner will be given an overview of their portfolio - in tile and list views. The information displayed here consists of linked bank account details, opening/current balances, along with management and maintenance fee percentages.

Transactions
​
Transactions related to an Owners portfolio are displayed here, separated by Property if there is more than one. Transaction types displayed include receipts, charges, invoices, and payments.

Diaries
​
​This area can contain copies of supplier invoices, inspection reports, diary notes, and any other information that the Property Manager uploads via the property diary. If it is a file, it can be downloaded as and when required. 

MDG Property Management's Managing Director Mark Dizon was one of the distinguished guest speakers during the New Zealand-Philippines Business Council (NZPBC) Business 101 Workshop Series held on 22 June 2017 (Thursday) at the Chapman Tripp office in ANZ Centre, Albert Street, Auckland. 

He openly shared his journey as he took the leap from being an employee to establishing his own property management company from scratch, together with his business partner Molino Garcia. Undoubtedly, MDG was a risky venture at the onset, given the business climate and competitive market, with only limited resources to work with. However, he intimated how the challenges and obstacles of starting-up a company have moulded him into the successful entrepreneur he is today.

If you have a hard time removing water spots on shower glass doors, here is the solution.  I recommend that you use C-Thru Water Spot Remover.  You can buy it at Bunnings.  It is so easy to use.  I have tried many products but this is the only one that does the job.

So, you bought your first investment property or you may already own one, one of the most expensive assets you could ever acquire in your lifetime. Undoubtedly, you would like to maximize the profit from such an investment as well as increase its value over time. Property management can help protect your investment. Below are some reasons why you should hire a property manager:

1. Save Time and Reduce Stress
Tracking rent payments, collecting late fees, dealing with complaints and repairs, preparing the property for new tenants, finding contractors and dealing with bad tenants could be tiresome and stressful. Relinquishing these ongoing responsibilities to a good property manager can allow you to spend your time identifying other investment opportunities or otherwise furthering your career, without sacrificing your time and health.

2. Screening of Tenants
Experienced property managers are experts at finding good tenants, and will take care of all the details, including running credit checks and getting landlord references. Property managers have a bigger pool of applicants to choose from due to their extensive marketing and advertising programs, resulting in better quality tenants for your property.

3. Knowledge of Tenancy Laws
One of the biggest advantages in hiring a professional property manager is the ability to avoid some legal hassles. In the event that an eviction becomes necessary, an experienced property manager will know how to handle it in a way that will save you time and money. Your property manager can keep your property up-to-date and compliant with tenancy regulations.  

4. Buffer between Owners and Tenants
When you have a property manager, you can keep a professional distance from your tenants. Getting too personally involved can result in being too tolerant on issues you may have on your tenants, or too defensive about their complaints. When problems from either side arise, your property manager is better prepared to deal with them effectively.

5. Make More Money in the Long Run
You’re probably hesitant to hire a property manager because of the costs involved. In reality, though, hiring a property manager will actually make you more money in the long term due to several reasons.  You may get better tenants that stay longer and have lesser problems to deal with. In addition, your property remains in great shape. In case of repairs or damages, your property manager can get you the best work for the best price, brought about by his existing relationships with tradesmen and contractors who will oversee any necessary maintenance projects.  Your property manager might be able to get you free insulation. In the long run, the time you save dealing with rental property-related issues may be spent doing something else.

*Mark Dizon is the Managing Director of MDG Property Management Ltd. (www.mdgproperties.co.nz), a Filipino-owned and operated property management company incorporated in 2010, with head office in Auckland City.

You need three items to clean your ceramic hob:

1)  A ceramic hob cooktop scraper. You can buy one at Noel Leeming for $10.99 (as of July 2014).
2)  A ceramic hob cleaner.  You can buy this at Pak N Save.
3)  A ceramic hob protector.  You can buy this at Pak N Save.

See photos of the three items below.

Directions for cleaning the hob:

1)  At a low angle use the scraper to remove spills and burnt and hardened oil on the hob.
2)  Make sure that the surface is cool.  
3)  Apply the ceramic hob cleaner sparingly onto the surface.  
4)  Rub well with a clean paper towel.
5)  Wipe with a damp cloth and dry with a clean paper towel.
6)  Spread the protector sparingly on the surface.
7)  Rub well with a clean paper towel.
8)  Polish with a clean, dry cloth.

Sources for images and texts:  Hillmark Cooktop Scraper, Ceraclen Glass Cooktop Cleaner and Ceraclen Glass Cooktop Protector packaging.

Source of images and text above:  Watercare