Rent Roll
The Rent Roll table represents your property's rental income information. This is where you will enter all of your rent roll assumptions.
Properties
The Rent Roll contains the following subsections:
- Detail
- Term
- Base Rent
- Rent Increase
- Free Rent
- Percentage Rent
- Tenant Improvement
- Lease Commission
- Recoveries
- Upon Expiration
| Name | Options | Description |
|---|---|---|
| Tenant Name | Enter the name of the tenant |
Detail
Basic information about the tenant and lease.
| Name | Options | Description |
|---|---|---|
| Status | Tenant Vacant Option | Keep track of your unit' status. |
| Suite | Enter the Suite/Unit number for the space. You may enter any alphanumeric text. However, if using the Output Report option with Stacking Plan chart, make sure to follow the pattern of {floor}.{suite}. For example, for suite 3003A on the third floor, enter 3.3003A. | |
| Type | Office Retail Industrial Multi-Family Other Self-Storage Cold-Storage Hotel Medical Office Retail Condo Industrial Condo Warehouse | Select the asset type. |
| Unit (Area) | Property Area | Enter the tenant's area per its lease. |
Term
Specific information about tenant's lease term.
| Name | Options | Description |
|---|---|---|
| Start Date | Lease start date. | |
| Years | Lease years Duration | |
| Months | Lease months Duration | |
| End Date | Lease end date. End date will be calculated if years and months are added. |
Base Rent
| Name | Options | Description |
|---|---|---|
| Method | Amount/Year AmountMonth Amount/Unit/Year Amount/Unit/Month % of Market | Select a method or create a Rent Schedule profile. |
| Amount | Enter the corresponding amount based on the selected base rent method. |
Rent Increase
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 Schedule. 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 | Enter the corresponding amount. |
Free Rent
Custom Free Rent Profiles can be created and selected in the method component as well. These custom profiles will reside in Advanced / Free Rent.
| Name | Options | Description |
|---|---|---|
| Method | Net Gross Market | Select a method or create Free Rent profile. |
| Months | Enter the number of free rent months. |
Percentage Rent
A common feature in retail leases, percentage rent is when a portion of sales volume is paid to the property owner based on a percentage of the tenant's rent. For example, instead of paying $10/SF/Month in rent, a retail tenant might pay $5/SF/Month plus an additional 5% of monthly sales. Profiles can be created in the Advanced / Percentage Rent and applied to multiple fields in the U-Rite Inputs tab.
| Name | Options | Description |
|---|---|---|
| Method | Select or create Percent Rent Profile. |
Tenant Improvement
Enter the Tenant Improvement assumptions associated with a specific lease. 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 Market | Select a method or create Tenant Improvement profile. |
| Amount | Enter amount based on the selected method. | |
| Timing | Enter timing (Default: 100%). |
Lease Commission
Enter the Leasing Commission assumptions associated with a specific lease. Custom Lease 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 Market | Select a method or create Lease Commission profile. |
| Amount | Enter amount based on the selected method. | |
| Timing | Enter timing. (Default: 100%) |
Recoveries
Custom Recovery 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 Market | Select a method or create Recoveries profile. |
| Amount | Enter a recovery amount based on the method. | |
| Gross-Up | ||
| Inflation | ||
| Timing | Fiscal Calendar | Enter a timing. |
Upon Expiration
This is where the user can determine what will happen to the rent rolls once they expire.
| Name | Options | Description |
|---|---|---|
| Goes To | Market Renew Vacate Multiple | Select the Goes to option. |
| Lease Profile | Select the Speculative Lease profile after expiration. |
Note that to run a calculation, Base Area, Base Rent, and a Start Date are required.