Attention: All On-site Associates

As announced in last week’s E-Hour, the early termination process has been updated to reflect new guidelines on rent responsibility charges and the use of Yardi notice types. Please review the deposit accounting scenario and important highlights below.
 
ACTION: Access E-Way and review the updated Deposit Accounting process.

Deposit Accounting Process:

• Deposit Accounting Timeline: It is imperative that deposit accounting be completed and uploaded in Yardi within 11 days of move out.
• Rent Responsibility Charges: When a resident becomes rent responsible, charge rent to “RENT” through the move-out date and any rent past the move-out date (up to an additional one month’s rent) to “REAR.” Find more information in E-Way process activity 2.d.
• Rent Responsibility Date: The rent responsibility date must be entered in Yardi and should match the last day the resident is responsible for the rent. Find more information in E-Way process activity 2.d.
• Resident Move Out Statements: Sites should only generate the “Preliminary Move Out Statement” to accompany the initial deposit accounting.  The “Final Move Out Statement” should only be used by the appropriate corporate support department.
• Canceled/Denied Applicants: Sending move-out statements is no longer required for canceled/denied applicants after the completion of deposit accounting. Find more information in E-Way process activity 5.a.
• Deposit Accounting Checklist: The new checklists should be used for all DAs going forward. Copies of blank old checklists should be deleted or shredded. Find more information in activity E-Way process 8.0.

Questions? Email us at E-Way@essex.com.