ProAPOD Agent 6 has been updated and is available for download. Customers currently using this real estate agent software solution simply need to login to their account to obtain this update. You will find the download under Updates.
What’s new in this version.
1) The flexibility for you to “step” revenue projections.
In the previous version of this real estate software solution you were given an opportunity to appreciate rental income, other income, and operating expenses on an annual basis for the revenue projections displayed in the Proforma Income Statement but not given the opportunity to “step” those values. For example, in the previous version if you entered a 3% appreciation for rental income, the software would automatically compute a 3% increase in rental income for year 2, again in year 3, and so on for each and every year of the ten years displayed in the Proforma Income Statement.
This software update now gives you the option to “step” (and even hold the value). Say you prefer not to appreciate the income until the third or fourth year and want to “hold” that value for all subsequent years (i.e., without further appreciation for the years remaining), now you can. Or, if you want to appreciate the value at 1% (say) for years 2, 3, and 4 but would like to appreciate it at (say) 2% starting in year 5 and then hold that value for the remaining years you can. In other words, you can add one “step” in the rental income, other income, or operating expenses in any year at the rate you select, and then either have that value continue to appreciate or not appreciate for the remaining years.
We did this by adding a “method” selection to the “Step the Growth” portion of the Proforma form. In this case, you have the option to select either “annually” or “one-time” for any growth in rental income, other income, or operating expenses you want to make for any starting year. ProAPOD will in turn compute the growth at the rate you desire in the starting year you select and then will either increase it again at that rate or hold that value for the subsequent years based upon your “method” selection.
The benefit to you is that you now have more control over your revenue projections and can create a cash flow analysis with much more flexibility then before.
2) Other Income will now display on the APOD when no Rental Income is shown.
The previous software solution did not display a value for “Other Income” in the APOD unless monthly rents for the units were also provided in the Income form. So we made the adjustment for the APOD to show any “Other Income” values computed whether or not monthly rents are entered. This makes the APOD more consistent with the Proforma Income Statement.
3) The Price Analyzer was added.
The Price Analyzer is an extremely helpful tool when you want to quickly determine what the cap rate, gross rent multiplier, and cash-on-cash return would be at a specific property price; and likewise, what the property price would be based upon a specific cap rate or gross rent multiplier. This tool became non-functional about a year ago when we introduced the Canadian amortization option to Agent 6 (an error message appears when you try to open it, sorry) but now is fully operational in this update.
We did, of course, check this software solution after making the update to assure that every thing is correct. But we are human and might have missed something. So contact us if you discover an issue that needs to be fixed and we will fix it immediately.