Setting up the Listing for Lease loop:

Choose – “Rental List Side” - you are listing the property for lease – choose “Stellar MLS" or "Non Stellar MLS” (depending on which board you belong to)

Required Documents & Instructions:

Listing Paperwork – agent to upload required documents & send “Exclusive Right to Lease Listing Agreement” to Phil once initialed & signed by the owner/landlord & yourself.  Phil needs to initial Section 9. – Dispute Resolution section on the arbitration line. If missing Phil’s initials – the folder will be returned.

Under Agreement Paperwork:
– Residential Lease

*If DW is Holding Escrow: Agent to deposit funds to escrow account:
- Take photo of check(s) & deposits the payment from tenant (example: 1^st month, security deposit, pet deposit, etc.) to any TD Bank in your area & deposit to Escrow account ending in *5884 (amount per lease).  Instructions are on the “Rental
   Escrow Information” that auto-populates.
- Write the address on the deposit receipt which shows the date, acct. # & amount and take photo.  Upload photo to the folder. (You must convert the photo to a PDF in order to upload to Dotloop – see note below).
- Complete the “DW-Rental Escrow Deposit Receipt” & notify Miles via email of escrow deposit – tenant name, date, amount of deposit & property address at miles@daltonwade.com
*If DW is NOT holding escrow –above forms do not need to be completed.
- If you receive check from landlord/owner (must be made out to Dalton Wade) – check to be mailed to office or deposited to the TD Bank Commission account ending in *5807.
*CDA –complete the CDA and include payment to the landlord if landlord receiving a balance as follows:
   Line 1. Payable to:  Your DW fee goes on this line.
   Line 2. Payable to: Your name and amount of commission/payment goes on this line & how you wish to receive payment in the “Delivery Instruction” box.
   Line 3. Payable to: Landlord name, amount and the address for the check to mailed to or ACH in “Delivery Instruction” box
   The 3 lines should total the amount in the “Total Due” box in the upper portion which should match the total deposited.
   *If the landlord is holding escrow & no funds are going to the landlord – you do not enter the landlord info on Line 3. Example:  you are receiving full month rent as commission.

*Commission account & escrow account information is NOT to be given to tenants for them to make the deposit! This is your responsibility.  

 Once the listing for lease file is complete (leased) and the file is complete.  Set up the Property Management loop for monthly payments as follows:

Setting Up the Property Management Loop:

Once Loop is Created:

PROP MGT/LEASE PAPERWORK:
- Upload Property Management Agreement or click on the copy provided in the loop, fill it out & send for initials & signatures the landlord/owner.
- Upload the signed lease.
- Upload any addenda or forms.

MONTHLY PROP MGMT PYMTS:
 - The CDA will need to be filled out each month for your property management fee payment.  We are no longer using Doorloop for property management.  Below is the new process:

·        - Dalton Wade, Inc will send out invoices to each of your tenants by way of email (QuickBooks) on the 27th of each month. This will be an automated process.  

·       -  Property Owners will receive payment(s) within 1 business day by ACH deposit.

·       -  All CDA’s will need to be submitted by the 25^th of each month so that we can send out invoices to your tenants by 27^th of the month.

·       - The Property Management Team will create a spreadsheet for each Property Manager to view when payment has been received.

·       - Property Owners will be able to view all payments made to them via QuickBooks.

·       - Dalton Wade, Inc via Doorloop, will no longer manage application fees.  

Filling out your CDA:

Dalton Wade charges a one-time annual property management fee of $79 per property.  The $79 gets deducted on your first CDA along with the $15 administrative fee - 1st property management loop will have $94 on Line 1. Payable to DW & going forward the $15 administrative fee will be added monthly (see below).

Top portion:
*Closing date – enter the date rent is received.
*Title, Lease – enter name of tenant or landlord.
*Commission Amount – full amount of rent.
*Commission Detail – amount of your prop. mgt. fee.
*Commissions – full amount of rent.
*Total Due – will auto-populate amount of rent.
Bottom Portion:
*Line 1. Payable to DW - $79 fee for annual prop. mgmt.  (one time fee on 1^st CDA) – as well as the $15.00 administrative fee to process each payment per address each month.
*Line 2. Payable to – add your name & amount of prop. mgt. fee (after deductions to DW on Line 1.).
*Line 3. Payable to – landlord name and in the “Delivery Instruction” box the landlords full address or ACH,
The payable lines should equal the amount in the “Total Due” box in upper portion.

Once complete, sign the CDA and submit for review to the Compliance Team. 

Tip:  
- Each month you will add a CDA to the “MONTHLY PROP MGMT PYMTS” folder, rename the CDA by clicking on the 3 dots, “Rename”, type the name and hit enter.  Example:  Feb 2023 CDA, March 2023 CDA, etc.

Once you submit your CDA folder each month – Compliance will change the folder status to “PROCESSING CDA”.  Accounting will review and approve the CDA for payment. 

Adding a CDA Each Month:

- Click on “ADD DOCUMENT” to the right of the folder.

Click on “TEMPLATES”:

Click on “COMMISSION DISBURSEMENTS” – scroll to the “DW-CDA (Lease)” & check the box:

Click “COPY” and your CDA will be added to the folder.

Click on the 3 dots to rename it to the month you are submitting your payment.

Converting photos to PDF files - there are numerous apps that will automatically convert a photo to a PDF file such as Camscanner (free).  This is helpful as a property manager to enable you to upload checks, receipts for any work such as plumbing, electrical, etc.