AQARAT is designed with the modern property manager in mind. It is not just a tool; it is a comprehensive solution that simplifies the complexities of real estate management. Our system is built to cater to the diverse needs of multi-company setups, ensuring that each company operates independently while maintaining seamless integration across the board.

1. Multi-Company Support:

One of the standout features of AQARAT is its ability to support multiple companies within a single platform. Each company can have its own set of financial statements and financial periods, allowing for clear and distinct financial management. This feature is particularly beneficial for the property management group of companies and firms handling portfolios for different owners or investors.

2. Customizable Posting of Property Transactions:

AQARAT offers flexibility in posting property transactions (lease agreements, cheques, and cash payments) to the corresponding ledgers in the Chart of Accounts of the company based on different options. This includes:

This flexibility ensures that you can align the financial reporting with the specific requirements of each company and owner.

3. Independent Operation with Seamless Integration:

Each company within AQARAT operates independently, maintaining its unique settings and financial statements. However, the system also ensures seamless integration, enabling managers to get a consolidated view when needed. This dual functionality is crucial for maintaining detailed oversight while facilitating high-level decision-making.

4. Owner Management and Reporting:

Managing multiple owners can be challenging, but AQARAT simplifies this process. For private owners of the company, our system generates detailed owner revenue reports, breaking down shares from each lease agreement and/or payment collected. This transparency ensures that owners are always informed about their investments and returns.

5. Owner Contracts:

AQARAT offers a versatile Owner Contract option for external owners, allowing for different types of revenue-sharing agreements. Here are the main types of Owner Contracts available:

• Management Percentage: The management receives a specified percentage of the revenue generated for each property it manages. This revenue is posted in its financial statement. The remaining balance is divided among the combined owners of the property.
• Management Fixed Amount: The owner agrees to pay the management a fixed amount per year to manage his property. The full revenue from the property is allocated to the property owner.
• Investment Owner Contract: The management agrees to pay the owner of a property a fixed amount in multiple installments. The management then leases the property and retains the full revenue generated.

These options provide flexibility in managing external owner relationships, ensuring clear and fair revenue distribution.

6. Robust and Flexible User Management System:

AQARAT has a robust, yet flexible and fine-grained user management system. Each system user can be allowed to work on specific modules such as property management or finance. Users have specific privileges, such as creating and editing transactions, while others can revise and approve these transactions. Lease agreements cannot be printed or come into effect unless verified and revised by the accountant. Additionally, special lease agreement entries require escalation to the manager for approval, ensuring rigorous oversight and accountability.

7. Flexible and Configurable Property Management to Chart of Account Ledger Mapping:

AQARAT allows flexible and configurable mapping of property management to the Chart of Accounts of the company. The revenue of each property is linked to the property itself, while Tenants Receivables can be either common or separated into individual ledgers for each property. Additionally, Deposit and Fee Components (e.g., Utility, Gas, Fines, Commission) are mapped to separate ledgers within each company’s Chart of Accounts. This ensures precise tracking and management of all financial components associated with property management.

8. Powerful Reporting Engine:

AQARAT comes with a powerful reporting engine that provides comprehensive and detailed reports, including:

• Income Reports: Unit-wise and owner-wise.
• Installment and Cheque Reports: Within a specified date range for the property/unit and tenant.
• Tenant Accounts Receivable with Ageing: Detailed accounts receivable tracking.
• Lease Agreement Expiry and Near Expiry: Reports with notifications to system users and email notices sent to tenants in advance for renewal notice and the next year’s rent.
• Financial Statements (for a specified period): Including Trial Balance, General Ledger, Balance Sheet, Profit & Loss Accounts, and more.

Each report has multiple output formats (summary and detailed) and different templates. Reports can be printed or exported to Excel for further analysis, or to PDF for viewing, forwarding and archiving. These reports offer valuable insights and assist in informed decision-making, ensuring efficient and effective property management.

9. Compliance with UAE & GCC Market Demands:

Our team developed AQARAT to meet the UAE to meet most demanding UAE & GCC market, AQARAT supports VAT collection, posting, and reporting. It also generates standard government reports for Lease Agreements and TAX invoices, ensuring compliance with local regulations and easing the administrative burden.

10. User-Friendly Interface:

We understand that ease of use is essential for adoption and efficiency. AQARAT features a user-friendly interface designed to make navigation and management straightforward. Whether you are an experienced property manager or new to the field, our platform is intuitive and easy to use.

11. Secure and Reliable:

Security is a top priority for AQARAT. We implement the latest security protocols to ensure that your data is protected. Our system is reliable, offering robust performance even during peak usage times.