Spectra releases Ontario MPAC Module
June 1, 2004

The Ontario Municipal Property Assessment Corporation (MPAC) requires that owners file information related to their properties income and expenses, rental and tenant verification data on an annual basis.

Although in the past MPAC accepted financial statements and rent rolls as a method of providing this information, this year the above method will no longer be considered as complant. 

Ontario owners have two methods of submitting the above noted information:

1. Over the Internet - through MPAC's site - manually filling out the MPAC electronic rental data request forms.
2. Manually completing the prescribed, hard copy MPAC "Tenant Verification & Rental Request" and "Property Income & Expense Questionnaire".

Depending on the number of properties managed, these methods will require spending an inordinate number of man-hours/day/weeks filling out and submitting the necessary information. Depending on the number of tenants, it can take up to several hours to complete the information for just a single property. Additionally owners have to complete this filing exercise annually. Finally, because you are manually entering the information, you expose yourself to potentially costly date entry and/or transcription errors.

The great news is there is a much better way.

Developed in conjunction with MPAC, Spectra's new MPAC Mudule automates the MPAC submission process, exponentially reducing the time it takes to provide MPAC with the necessary data. The SPECTRA for Windows® MPAC Module exports all the pertinent information regarding buildings, units and tenants that MPAC requires. Some initial set up, of course, is necessary. It includes full editing capability, as well as data verification. 

This Module will, without question, save you considerable time, effort and money as well as dramatically reduce the potential for data entry errors. 

There is no question that given the extremely laborious nature of manually completing the MPAC forms, this module - from an investment perspective - provides exceptional value. In fact, it will very likely pay for itself in the first year alone. 

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