The Syndicates module can be used for managing a property syndicate or a equity fund or similar financial instrument
A Property Syndicate would be a group of people who collaborate together to create something that may not have been possible on their own. It requires the right development land, location, design team, project management team to maximise the site potential and a group of investors to realise that potential and minimise risk for all parties.
An Equity Fund or similar is an alternative type of fund but the processes described here are applicable. The ability to add and modify via Lookups means there is a great deal of flexibility within this module
Prerequisites required prior to creating a new syndicate
- For a Property Sysncdicate only a development needs to be set up withing CompleteEmpire using the Developments module.
- A fund type and sub types for property and / or fund type set within Lookups.
- During the process you will need to identify a trustee, set up a receipt template for the funds invested, a certificate and tax statement template for the investor and a bank account to be assigned to the syndicate.
- Click {Syndicates}>{Syndicates} in the Main Menu - to open the Syndicates view that lists existing syndicates.
- Click [Create New] + icon in the Syndicates view Work Area Quick button group to open the New Syndicate window.
OR
- Click on [Create New] in the Quick Actions button group in the Work Area Header (breadcrumb bar) and click {Syndicate} to open the New Syndicate window. This can be done from anywhere within CompeteEmpire.
- {Name} - enter name for the syndicate or fund.
- {Developments} - if relevant to the type of fund select the associated development. Noting that the development needs to have been set up prior to the creation of a new property syndicate.
- {Syndicate Type} - select the type of fund noting that this can be updated within Lookups.
- {Syndicate Partners} - select your marketing and selling partner.
- Complete as many field as possible noting that the fields outlined in red are mandatory.
- Tick {Create a bank for use by finance?} if the fund needs to loan to parties and charge interest and run a loan book then tick this box to set up the required accounts.
- Click [OK] to save the new syndicate. This will open the syndicate edit view and additional information can be added. The Edit view can be accessed anytime in the future to add or edit information as required.
At this point you have created the Syndicate or Fund and can proceed to updates the status, add additional information, add investors, manage campaign costs, manage and review the financials, manage associated documents.
The Summary/Edit views for the Syndicate can be accessed anytime in the future to add or edit information as required.
Refer to Explore the Syndicates Summary view and Explore the Syndicates Edit view
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