MPAC (Municipal Property Assessment Corporation) requires that real estate owners file information related to their properties income and expenses along with rental and tenant data on an annual basis.
MPAC compliance module integrates with the Property Management modules to extract and present the data needed for your realty assessment.
The Municipal Property Assessment Corporation (MPAC) assesses both residential and commercial properties to determine their value. Property taxes are then decreed by local municipalities and applied to the assessed value.
It is a responsibility of Property Management companies to, on behalf of property owners, annually file income, expenses, rental and tenant data related to each property managed. This is a significant use of resources if managed manually.