STEMMONS Tenant NAICS Update


Tenant NAICS Update

The NAICS (North American Industry Classification System) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. Property management companies find this information about their tenants important because it informs them the type of companies who work currently work in their buildings and is also necessary for the accounting system. Analyst will send out case to property managers to update NAICS codes for tenants, thus ensuring database is up to date.

User Experience:

  • CAST creates multiple cases for update NAICS code for various tenants
  • Cases are assigned to the respective property managers
  • Property manager updates code within case and assigns to tenant changes hopper
  • Tenant changes team updates information on accounting system and closes case

 

Functional Setup:

  • CAST configured to assign multiple cases to various property managers
  • NAICS code update case type must be created
  • Tenant Changes Hopper must be created and manager assigned
  • Company's accounting system must be integrated with Central

Best Practices:

  • It is good practice for property manager to verify tenants information during this time as well 
  • Analysts should periodically analyze accounting system for any tenants who do not have their NAICS code updated and assign cases accordingly

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