As a Property Manager, you can configure all budget limits in your owner agreements property by property or set them at a Portfolio Level or Company Level.
The Emergency Soft Budget Limit is the default budget limit shared with Service Providers when a Work Order is sent to them. If a job will go over the Soft Budget Limit then the Service Provider contacts Latchel first for approval.
The Emergency Hard Budget Limit is the maximum budget limit that you allow Latchel to approve up to. For example, assume a soft limit is $200 and a hard limit is $500. The Service Provider contacts Latchel when the job will exceed $200. Latchel will automatically approve the cost if it is below $500. Anything over $500 will be escalated using your escalation contacts list for approval.
**Please note, to use our 24/7 Emergency service, your Emergency hard budget limit must be $500 at minimum.**
Premium Plan Configurations:
The Normal Soft Budget Limit is the default budget limit shared with Service Providers when a Work Order is sent to them. If a job will go over the Soft Budget Limit then the Service Provider contacts Latchel first for approval.
The Normal Hard Budget Limit is the maximum budget limit that you allow Latchel to approve up to. For example, assume a soft limit is $150 and a hard limit is $250. The Service Provider contacts Latchel when the job will exceed $150. Latchel will automatically approve the cost if it is below $250. Anything over $250 will be escalated using your escalation contacts list for approval.
