MASTERKEY BLOG

Ramadan Kareem!

Ramadan Kareem!On behalf of all Masterkey team, we wish you to have a very blessed Ramadan!   Ramadan Office Hours: 9:00 am - 3:30 pm Emergency Line: +971 50 458 0335

Excuse me… Your cheque bounced!

Excuse me… Your cheque bounced!  Over the past few weeks, we’ve been busy making some improvements to our invoice and payment management features, making them more advanced. It is now easier to maintain a full audit and a reporting trail of all the changes in your invoices.   Earlier this year, we introduced a feature to mark payments as bounced, and replace bounced cheques with new ones. With this week’s release, you can now instantly send an email notification to tenants or buyers advising them that their cheque has been rejected by the bank.   As soon as you mark a cheque as bounced, inform the concerned party immediately by sending them an email notification that the cheque didn’t clear. In addition to the text email sent, a notice letter will be attached as a PDF file. These notice letters can be customized from the Communication Templates Parameter inside System Admin. We’ve added a few default templates for you so you can start using the feature immediately.   Check out our knowledge base articles here to learn how to send notifications for bounced cheques, and here to learn how to setup Communication Templates.

Templates, Templates, Templates!

Templates, Templates, Templates!      Nothing makes work processes easier or faster than templates! We all love them! No need to think of texts, descriptions, words, and most importantly, it’s the best way to avoid writing errors!   We have just released Marketing Templates, an advanced feature under the marketing description field for units. You can now make sure your company is maintaining a professional image across all marketing channels and property portals, by predefining marketing descriptions consistently.   As a manager or an agency owner, you may want to define standard marketing description templates in order to maintain the consistency of the published marketing text, and reduce the risk of typos, grammar, and other copywriting errors. Your company image will benefit incredibly from it, and you will be able to fine tune your communication!   As an agent, you would love having predefined marketing templates, because it will save you time and the hassle of coming up with marketing descriptions everytime you need to add a unit and publish it to a portal. You can now get your work done faster, and publish units seamlessly!   So, predefine your marketing communications templates, and with one click, you will be able to insert texts such as: Template which are automatic predefined unit descriptions  Property Overview  Community Overview  Agent Signature  Company’s profile     Go to the help section here, to learn more about how to use Marketing Templates. and Click here to learn more about how to add Marketing Templates from System Admin.

Sending renewal notices just got a lot easier!

Sending renewal notices just got a lot easier!In the last few months and due to popular demand, we’ve been hard at work to revamp and streamline the lease renewal process inside Masterkey. This week’s release includes the first of a series of improvements that will facilitate renewals for Property Managers.   You can now send one or multiple renewal notices via email to tenants whose leases are expiring soon, all from the Upcoming Renewals sidebar report.   By selecting a single or multiple leases and clicking ‘Send Renewal Notice’, an email composer will open with the tenant’s name and email address pre-filled and the renewal letter attached as a PDF. You can select up to 50 leases and send renewal notices as a batch at once!   “Did I send that renewal notice 90 days before the lease expires?” Stop wondering! Simply keep track of when the renewal letter was first sent for each lease. Reminders can still be sent, but the system will track the first notice sent, since it is the one that matters as per the 90-day-period notice ceiling.   Managing notices is now much easier and straightforward. Just add a “Notice Sent On” column in the field selection, and keep an eye on the date these notices were sent. You can even follow the person who initially sent these notices.   Excited to do things faster? Go to the our knowledge base here and check out the details on how to send renewal notices to your tenants.  

3 Ways to Hack Your Productivity

3 Ways to Hack Your Productivity   Productivity is a common distressing subject for any real estate professional. Running from one apartment to the other, entering notes onto your smartphones (that you never really have time to look at anyway, or if you do you would completely forget what that note was about in the first place). Your documents are randomly stored on your desktop, you use time consuming spreadsheets, and waste so much time on paperwork. If you ever wish to grow your income, close more deals, and spend your valuable time on making actual money, you have to start considering using an organized system that will hack your productivity.   So how do you organize your work with Masterkey? How can you increase your productivity and consequently save time and energy to invest in money-making activities rather than unproductive paperwork?   Activities Management: Start by automating your task follow-up and call lists. “I set immediate reminders that are very helpful and assign tasks and distribute work to team members,” said Smitha Sanil from Better Homes. “Automatic reminders for follow-ups and lease expiry dates are all great features that we use.” With Masterkey’s activity management system, we estimate you can save up to 40 minutes per day.   A Solid Client Database: “Who is it on the phone? Oh we spoke yesterday at 10:00? You want to buy a house? Oh! Yeah yeah!” Don’t you just want to avoid these awkward conversations? Capture your new leads immediately into your CRM system along with all their related data. Automate the follow-up with your clients and call them first, instead of guessing who they are and providing disappointing service. Improve your follow-up procedure and timing by simply logging a call with notes. All your interactions can be captured directly so you don’t lose touch, or even worse lose that lead. We estimate that using Masterkey CRM will save you up to 30 minutes a day.   A Mobile Solution available everywhere: You are a real estate professional and spend most of your time on the move. From an apartment to a villa, attending trainings, networking… Do you actually ever sit in front of your desktop? “Using the mobile access is just perfect to me! I am never at the office, so the mobile version allows me to capture my client data and manage all my leads instantly from my phone” says Marija Lukic, from Property Shop Investment. How awesome is that? Making these features available online and on the move, could save you the one-hour drive to the office and back and at least 30 minutes of computer work.   At Masterkey, we want to support your time hacking and create that culture of productivity in your office. We just gave you a way to save 2 hours and 40 minutes a day. How many more deals will you close with all that extra time?

Marketing Agent Feature Now Released!

Marketing Agent Feature Now Released!    There may be situations where you need another agent to be the advertising and contact person for your listings. Masterkey has recently released Marketing Agent, a new feature that allows agents to advertise their listings through another colleague.   When would this feature be useful? In the UAE it is mandatory to have a RERA license to advertise listings onto property websites. Suppose you just joined the agency and your RERA license number hasn’t been issued yet. How would you advertise and publish your listings to get leads? This is not a problem anymore. Advertise your listings temporarily through one of your colleagues, by simply ticking the Marketing Agent box.   Annual leaves. Vacations. Maternity leaves... Whether you’re an agent planning to go on holiday, or a sales manager whose team members are going on leave, you don’t need to worry about losing leads anymore. With the Marketing Agent feature, the listings of the agent on leave can be assigned to another agent with a click. You can now go on vacation and actually enjoy!   Many companies are now moving towards more area specialisation, and the Marketing Agent feature comes in real handy. Say an agent got a listing for a unit located in Dubai Marina, but you would rather have another agent who is specialized in Dubai Marina area promote the listing. You can now assign it to him with Marketing Agent.   Interested? Go to the help section here to check out the step by step guide on how to market a listing on property portals with the contact details of another agent.

Ejari Integration news around the web

Ejari Integration news around the webWith the news about Masterkey’s Ejari integration making it’s way around the media world we thought we’d collect some of the main points of the news stories for you to read. Summary of the news Masterkey is the first and only non-government software to have integrated with Ejari. You can create an Ejari certificate with one click. Masterkey can help you with mapping existing tenancy contract. The first live integration is already up and running, more are already in the pipeline. Property managers now find it easy to synchronize their data with Ejari. The main quotes H.E. Sultan Butti bin Mejren, Director General of Dubai's Land Department“This integration reduces the time and effort for users by electronically synchronizing both systems. Since Masterkey is linked with Ejari, you will be able to generate the Ejari barcode and registration number directly from Masterkey making it easier for the public to obtain Ejari contracts.” Daniel Hart, CEO of Masterkey"This is a fantastic time saver for property management companies that need to comply with RERA regulations and we fully support the government's drive to create more transparency in the market. Up until now registering tenancy contracts in Ejari has been a time consuming task for most of our customers." Mureed Mustafa, Director of Operations from ERES“We are very pleased that Masterkey has shown such dedication and has become the first non-governmental entity to integrate with our Ejari system. We reviewed the integration and found it to be a very thorough. It solves many problems for the Dubai property managers.” Ryan Mahoney, CEO of Better Homes"This integration drastically reduces our overhead. We were spending in the range of 2,000 hours a year to copy data into the Ejari system. Now we can simply update our information in Masterkey, which will then register new leases in Ejari at the click of a button." Media Coverage Daniel Hart, CEO of Masterkey was a guest on “This Morning with Andrew Hosie” Zawya - Announcing the Masterkey Ejari IntegrationFebruary 2, 2014 Trade Arabia - Masterkey completes integration with EjariFebruary 2, 2014 The Gulf Today - Masterkey completes integration with RERA’s EjariFebruary 4, 2014 Gulfbase - Masterkey completes integration with EjariFebruary 3, 2014

Ejari Integration now live in Beta!

Ejari Integration now live in Beta!          Masterkey is the first and only non-government software to integrate with RERA’s Ejari system, saving Dubai based Property Managers both time and tear-inducing ‘manual work’ to comply with regulations.   What is Ejari?   If you haven’t heard of Ejari before, it’s the online system that tracks lease agreements across the emirate of Dubai. You could say Ejari’s ultimate goal is to track the rental price of every single unit across Dubai and have them all registered in one system. That’s a lot of data entry, and someone has to do it! Property Managers (and some typing centers) are usually stuck with the job.   Why is Ejari important?   When filled with the rental data, Ejari allows the government to refine their real estate rent index. That index in turn protects both landlords and tenants from unfair rental rates. Rent escalations are restricted to government controlled percentages and landlords would also be able to ensure that their rent is not too far below market averages. Also when there’s a dispute, a full audit would be available inside the one system.   Up until now the supply of data to Ejari looked like this:   So what is the integration for?    At Masterkey we’ve now managed to take out the time consuming manual step in the middle.   We’ve essentially built a bridge between the two systems, allowing the data to flow seamlessly from one to the other. Along with this bridge we can assist with mapping existing data between the Masterkey and Ejari so that existing leases match up.    Does it work?   Yes. We’re already live with some existing customers and can create and terminate tenancy contracts in Ejari with the click of a button. Without even entering the Ejari interface Property Managers can print official Ejari Tenancy Contracts and Registration Certificates. These documents are the same ones used by the tenants to register for DEWA and other services.   Who gets the integration?   All Property Management clients who are using Masterkey can be upgraded with this new system integration. Contact us to learn how we can help you comply with the Ejari requirements and save yourself a lot of time. http://www.gomasterkey.com/contactus/index.aspx      

What’s changed with Payments?

What’s changed with Payments?A number of changes to Payments and Receipts have just been released, the most interesting of which are updates in invoices, reconciled payments and history of changes. ‘Payments’ has been renamed ‘Invoices (Payments Due)’ We had change the terminology to make sense of the new features and to keep in line with accounting standards. An Invoice is in reality a payment that is due, which will eventually be reconciled with a payment that is received. An Invoice now actually looks like an invoice, with any payment received clearly marked on the right and due totals showing below. Generate a Receipt from inside an Invoice You can still generate a single Receipt for Multiple Invoices from the main invoices page. We have added a new ‘Add a Receipt’ area within an individual Invoice too - which is where most of the magic happens. See the full history of changes made to a particular Invoice All changes to an invoice (for e.g. when it was created, what payments were received against it, when one of the payments bounced, etc.) are fully tracked and displayed in the new history section at the bottom of the invoice. This has been a popular request from users and something we’ve been meaning to add for a while. Bounced and Returned Cheques You can now mark payments as bounced, and replace previously bounced cheques with new ones, maintaining a full audit and reporting trail in the process. Reconciled / Unreconciled Status By default all receipts are marked as reconciled, meaning that the system assumes they have cleared. If you want to track the bank clearing process as well, then you can set up so that receipts get marked as unreconciled (or not yet cleared) when a cheque is received, and then later reconciled when the funds are actually received. Payments Reporting You can now also run reports on which cheques have cleared, which ones haven’t and which ones need replacement. Combine that with our Report Builder and you can build practically any payment report you can imagine.

Masterkey Evolved

Masterkey EvolvedMasterkey 4.8 rolls out a host of upgrades and the most notable is by far the evolved interface! It not only improves the way you get around the application, but has been carefully crafted to give you a whole new experience and feel. Our designers have smoothed out the rough edges and  embedded many user interface tweaks that you’ll love. Happy clicking We’ve halved the number of clicks it takes to get around, resulting in a system where you can get anywhere in one or two clicks. The new tab layout immediately indicates where you are and remembers the last module you’ve used, making sure your most frequently used tabs are right where you need them. iPad-ified Masterkey 4.8 works perfectly on your iPad. Units and Contacts open in their own tabs with easy access to information. Two finger scrolling is enabled and works just how you'd expect it to. In Property Management and Short Term Rentals, the tabs automatically adjust to accommodate all zones. Fastest gun in The East Adding information is now easier than ever with the Quick Add button. Add a Contact, Lead or Activity from any module, anytime. You’ve got message! Messages (previously called Alerts) now clears when you view them - you’ll know if there are any unread messages from a glance on any screen. The Perfect Hit In several areas across the application buttons and checkboxes have been given larger hit areas, making it easier to select with a mouse and much easier on an iPad or a tablet. An eye for consistency All actions are relocated to the top right of each page, allowing you to gain easy access. Using actions quickly becomes a learned muscle movement. Links are the consistent blue and the weight on the page has been brought down to highlight more important elements on the page. Need more space? Collapsing the sidebar can help give you more space to read data in the table view and scroll through information. The hit area has been increased and it is now possible to click on with an iPad or tablet.