How To Create A Residential Property

Setting up a property on the Monk Tech Labs is the first step in setting the system. Properties are the base of the entire system, data related to units, tenants, contracts is tied back to the properties. 

• Access the Property Creation Page: Go to Core > My Data > Properties > + Property

• Location Details: Locate your project on Google Maps using the map input box. The system will automatically fill in other details. Alternatively, you can manually enter project details such as Project Name, Location, Pincode, etc.

• Designate the Point of Contact (POC): In the section below the map, tag the Point of Contact for the project. This step is crucial, as all resident complaints and issues will be automatically tagged to the designated POC. The primary POC should ideally be the society/site supervisor for the project.

• SEO Fields and Ticket Services: Fill out all SEO fields, including meta title and meta description if relevant. Select the Ticket Services offered for your property from the Service Categories dropdown.

• Company Information : In this section, add details related to the company registration. Please note, these details will reflect on the invoices shared with the tenant. 

• Service Categories : If applicable, select the ticket categories you’d want the tenants from this property to see. 

• Amenities Selection : In the next section, choose the amenities that your property offers.

• Document and Image Upload : Enhance your property's profile by adding important documents and property images. Head to the next page by clicking on ‘Save and Next’.

• You will be taken to the ‘Rates & availability’ section where you can set up contract types and prices. Under ‘Preferences’, click on units if you wish to add pricing on unit level or choose Categories if you wish to set up pricing on Category level.

• ‘Type of stay’ will be the next field, here the stays are divided in three categories - Nightly, Monthly, Yearly. 

• Nightly stays -  Take bookings for shorter duration and prices can be set up on Nightly level. You can define ‘Nightly stays’ better by adding the number of days for which a stay will be considered as ‘Nightly’. 

• Yearly stays - For long term stays ,enable ‘Yearly’ type of stay which will allow you to set pricing on Unit or category level along with collecting rent in installments via Post dated cheques. If you wish to automatically allocate the rooms based on gender, enable ‘Auto allocate rooms’ and define pricing at category level

• Monthly stays - For duration exceeding Nightly stay but shorter than Yearly contract, Enable ‘Monthly’ type of stays. This type of stay provides the flexibility to create a booking for a particular number of months. 

• If you wish to maximize revenue by enabling hybrid rentals, you can enable both Nightly and yearly or Nightly and Monthly stays together. 

• To enhance the booking process, our next step is to implement booking restrictions, if necessary. By enabling restrictions, you gain the flexibility to set specific criteria such as the minimum length of stay and the time frame within which prospects can view availability starting from the moment the booking portal opens. This feature ensures a more tailored and efficient booking experience for your users.

• After selecting ‘Room categories’ available in the property, click on ‘Save & Exit’ and your property will be created. 

For a better understanding of the system we recommend going through the article “Type of stay : Monthly”,”Type of Stay : Yearly”,”Type of Stay : Nightly”

For any further assistance please feel free to reach out to us at support@monktechlabs.com