Renovation Profile
Renovation is available for the tenants in a residential type properties. Once the renovation profile set, the renovation term for each tenant will be calculated from the server and place in a cash flow. Server looks for the available units and renovation schedule based on First-Come-First-Served model.
Properties
The Renovation contains the following subsections:
| Name | Options | Description |
|---|---|---|
| Name | Name of renovation profile |
Units for Renovation
| Name | Options | Description |
|---|---|---|
| Tenant Group * | Tenants for the renovation | |
| Total Units | Read Only - display total number of tenants in the selected tenant group | |
| Schedule Method | Units Percent | Selected method will be used for scheduling in the renovation schedule table (Default: Units) |
Renovation
| Name | Options | Description |
|---|---|---|
| Cost / Unit | Renovation cost per each unit | |
| Inflation | Inflation applies to the renovation cost | |
| Duration (mo) * | Duration for the renovation |
Upon Expiration
| Name | Options | Description |
|---|---|---|
| Goes To | Market Renew Vacate | Select one of the three Goes to Options (Default: Market) |
| Lease Profile | Next turnover lease profile after the renovation |
Renovation Schedule
| Name | Options | Description |
|---|---|---|
| Available Units | Read Only - display available units over years | |
| Units | Add renovation schedule in units | |
| Percent | Add renovation schedule in percentage |
Usage
Click ADD+ to create an renovation profile in the profile list.