1. CondoPlus
GCS/GPS Training

2. GPS Implementation Training Part I
CondoPlus
GPS Implementation Training
Part I

3. Important Attendance Reminder
GPS/Partner Training
Don’t forget to sign in if you are in the classroom.
Remote: please Talent Development at

4. Agenda CondoPlus Release When? February 11, 2017 Condos vs. Co-ops
What is CondoPlus?
How is CondoPlus different from RM?
Differences between Cabinet CondoPlus and X.4.1 CondoPlus
CondoPlus Setup
SaaS deployment on 2/11/17

5. Agenda CondoPlus Implementation Training When?
February 11, 2017 in X.4.1
Condos vs. Co-ops
What is CondoPlus?
How is CondoPlus different from RM?
CondoPlus Setup
Product Training Part I
SaaS deployment on 2/11/17

6. Condos versus Co-ops

7. Condos versus Co-ops Condos Co-ops Owned by residents.
Residents buy a specific unit at a property.
Approval process is less rigorous for prospective residents.
Residents typically pay a smaller association fee.
Co-ops
Owned by corporations.
Residents buy shares and not real property.
Ownership of shares entitles the resident to a proprietary lease.
Usually, the larger the apartment, the more shares you own.
Approval process is more rigorous for prospective residents.
Residents typically pay a larger association fee.
Approval: Your approval is contingent on financing, but not on the community you reside in.
Association fee: There is no underlying mortgage to pay for and thus association fees are smaller. Mortgage is maintained by individual residents.

8. Condos versus Co-ops Condos Co-ops
Each unit receives a real tax bill from the city.
In some cases, you can finance 90% of the value of the unit.
In some cases, you can sublet your unit.
Co-ops
Shareholders pay a monthly maintenance fee to cover building expenses and upkeep like heat, hot water, insurance, staff salaries, real estate taxes, and the mortgage debt of the building.
Assessments on the building can also be incurred.
Mortgage interest needs to be tracked.
Tax Bill: This is different from co-ops as this fee is rolled into maintenance fees at the co-op.

9. What is CondoPlus?

10. What is CondoPlus?
Specifically tailored for the unique requirements and practices of the condominium (condo) and cooperative (co-op) markets.
CondoPlus might look and feel like Residential Management (RM), but it features functions and processes that cover the workflow of condominium and cooperative property management.

11. What is CondoPlus? New Core Features:
Unit and share purchases and sales (think owners, not residents…)
Subleasing (… and the owners often don’t reside in the unit)
Ownership percentages (condo) and share maintenance (co-op)
Allocations
Violations
Sponsorship
Condo and co-op board activity
Allocations: create these to allocate communal charges across the property...set it up to be charged over a period of time.....pool charges.
Sponsorship: units maintained by the original developer
Sponsored units: a sponsor unit is an apartment bought directly from the sponsor, meaning that the purchaser of the sponsor unit is that apartment's first owner.  The advantage of buying a sponsor unit in a co-op is that you get to bypass the board interview. However, it is likely that you will have to pay the seller's transfer tax (usually around 1.5-2% of the purchase price.) And even though you got in with no board interview, once you're in you'll still have to abide by the rules of the co-op in regards to subletting and other co-op policies.
Condo and Coop
Pros: No board interview, possible lower price Cons: Higher closing costs

12. How is CondoPlus different from RM?

13. How is CondoPlus Different from RM?
No Calendar
CondoPlus does not use a calendar to complete move-ins and move-outs. Therefore, CondoPlus properties should not be assigned to sites in distributive processing.
No potential or vacancy
Units are owned by individuals, so property management does not include managing vacancies.
No renewal process
Condos are owned and not leased, so renewal processing does not need to occur.
No quick rent roll
Condo owners can only be entered manually currently.
No calendar: You don’t need to move in, move out, or transfer residents in the traditional calendar way.
If the property is assigned to a site, you should use the system date for the site.

14. How is CondoPlus Different from RM?
Unit Transfers are only allowed on Co-ops
Since Co-op owners own shares, and not real property like Condo owners, they are permitted to transfer between units
DHCR Requirements do not need to be setup for DHCR units
Units will need to be marked as Rent Stabilized or Rent Controlled for the registration process only
No Legal process
CondoPlus has its own violations process with fee billing and does not use the RM Legal process
No RMRENTS: No LRO
No Legal Process: Associations for condos and co-op boards have unique rules and a separate violation process needs to be set up to account for these.

15. Differences Between Cabinet CondoPlus and X.4.1 CondoPlus

16. Differences Between Cabinet CondoPlus and X.4.1 CondoPlus
Track individual board members votes
Bulk violations allowed
Owner/unit details on the same screen
X.4.1
Track board vote totals only
Bulk violations allowed when Schwin cabinet is applied to the database
Unit details accessed from the Owner page
Changes to the look of the HOA Administration and Boardroom pages as well.

17. GCS/GPS & Partner Training Part I
CondoPlus Setup
GCS/GPS & Partner Training
Part I
Pull out feature summary and go over setup in product.

18. Important Attendance Reminder
GPS/Partner Training
Don’t forget to sign in if you are in the classroom.
Remote please Talent Development at
Please bring additional questions with you to the CondoPlus Part II class next week.

19. GPS Implementation Training Part I
CondoPlus
GPS Implementation Training
Part I

20. CondoPlus
GCS/GPS Training