Market Leasing Profiles
With Market Leasing Profiles, you can create a market leasing assumptions. These Market Leasing Profiles are then applied at the lease expiration.
Properties
The Market Leasing Profile section contains the following subsections:
- Detail
- Term
- Base Rent
- Rent Increase
- Free Rent
- Percentage Rent
- Tenant Improvement
- Lease Commission
- Recoveries
- Upon Expiration
| Name | Options | Description |
|---|---|---|
| Lease Profile | Enter the name of the Market Leasing Profile. |
Detail
Basic information about the Market Leasing Profile.
| Name | Options | Description |
|---|---|---|
| Renewal % | Enter a renewal %. This will be used to determine the weighting of other Market Leasing Profile assumptions. (Default: 50%) | |
| Downtime | Enter the number of months of expected downtime. |
Term
| Name | Options | Description |
|---|---|---|
| Years | Enter the lease term in years. | |
| Months | Enter the lease term in months. |
Base Rent
Enter your base rent assumptions. The Renewal Probability % defined earlier will be used to determine the actual base rent amount.
| Name | Options | Description |
|---|---|---|
| Method | Amount/Year AmountMonth Amount/Unit/Year Amount/Unit/Month | Select a method or create Rent Schedule profile. |
| New Amount | Use Last Rent | Enter a new amount. |
| Initial Increase Method | Percentage % Amount | Appears when the Use Last Rent method is selected in New Amount. Changes the method which the Initial Increase Amount is applied to the last months rent of the lease this profile is applied to. |
| Initial Increase Amount | Appears when the Use Last Rent method is selected in New Amount. Changes the amount that is applied to the last months rent of the lease this profile is applied to, based on the Initial Increase Method. | |
| New Inflation | Enter a new inflation that will be associated with the new rent amounts. | |
| Renewal Amount | Use Last Rent | Enter a renewal amount. |
| Renewal Initial Increase Method | Percentage % Amount | Appears when the Use Last Rent method is selected in Renewal Amount. Changes the method which the Renewal Initial Increase Amount is applied to the last months rent of the lease this profile is applied to. |
| Renewal Initial Increase Amount | Appears when the Use Last Rent method is selected in Renewal Amount. Changes the amount that is applied to the last months rent of the lease this profile is applied to, based on the Renewal Initial Increase Method. | |
| Renewal Inflation | Enter a renewal inflation that will be associated with the renewal rent amounts. |
Custom Inflation Profiles can be created in the Advanced / Inflation tab on the U-Rite sidebar.
Rent Increase
Assign a specific rent increase to a Market Leasing profile. First, select the method and then input the corresponding Amount. For leases that have a non-linear Rent Increase schedule, a custom Rent Increase profile can be created in the U-Rite under Advanced / Rent Increase. This profile can be selected as a method in the Base Rent Method.
| Name | Options | Description |
|---|---|---|
| Method | Amount/Year Amount/Month Amount/Unit/Year Amount/Unit/Month % | Select a method. |
| Amount |
Free Rent
Enter the number of free rent months that will be associated with the Market Leasing profile. The renew and new amounts will be weighted according to the Renewal %. Custom Free Rent Profiles can be created and selected in the method component as well. These custom profiles will reside within Advanced / Free Rent.
| Name | Options | Description |
|---|---|---|
| Method | Net Gross | Select a Method or create a Free Rent profile. |
| New (Months) | ||
| Renewal (Months) |
Percentage Rent
| Name | Options | Description |
|---|---|---|
| Method | Choose a Percent Rent Profile. |
Tenant Improvement
Enter the Tenant Improvement assumptions associated with a specific Market Leasing Profile. Select the desired method and then input the TI amount based on the selected method. Then, input the desired timing. The renew and new amounts will be weighted according to the Renewal %. Custom Tenant Improvement Profiles can be created and selected in the method component as well. These custom profiles will reside in Advanced / Tenant Improvement.
| Name | Options | Description |
|---|---|---|
| Method | Amount Amount/Unit | Select a method or create Tenant Improvement profile. |
| New Amount | Enter a new amount or create a Lookup profile. | |
| New Inflation | Enter a new inflation or create an Inflation profile. | |
| Renewal Amount | Enter a renewal amount or create a Lookup profile. | |
| Renewal Inflation | Enter a renewal inflation or create an Inflation profile. | |
| Timing | Enter a timing. (Default: 100%) |
Lease Commission
Enter the Leasing Commission assumptions associated with a specific lease. Select the desired method and then input the Leasing Commission amount based on the selected method. Lastly, input the desired timing. The renew and new amounts will be weighted according to the Renewal %. Custom Leasing Commission Profiles can be created and selected in the method component as well. These custom profiles will reside in Advanced / Lease Commission.
| Name | Options | Description |
|---|---|---|
| Method | Amount Amount/Unit % of Lease | Select a method or create Lease Commission profile. |
| New Amount | Enter a new amount or create a Lookup profile. | |
| New Inflation | Enter a new inflation or create a Inflation profile. | |
| Renewal Amount | Enter a renewal amount or create a Lookup profile. | |
| Renewal Inflation | Enter a renewal inflation or create a Inflation profile. | |
| Timing | Enter timing. (Default: 100%) |
Recoveries
Enter the Recovery Method based on the specific leases and then input the recovery amount based on the method. Lastly, input the desired Recovery Timing. Custom Recoveries Profiles can be created and selected in the method component as well. These custom profiles will reside in Advanced / Recoveries.
| Name | Options | Description |
|---|---|---|
| Method | Net Stop Stop/Unit Fixed Fixed/Unit None Continue Prior | Select a method or create a Recovery profile. |
| Amount | Enter a recovery amount based on the method. | |
| Gross-Up | ||
| Inflation | ||
| Timing | Fiscal Calendar | Enter timing. |
Upon Expiration
This is where the user can determine what will happen to Market Leasing Profiles once they expire.
| Name | Options | Description |
|---|---|---|
| Method | Market Renew Vacate | Select a Goes to option. |
| Lease Profile | Select next lease after expiration. |