Abatements

Abatements are charge & recovery expedites for the Rent Roll Tab, as well as the other Market Items, Market Leases & Template Leases. Abatements are reductions or eliminations of a continuing charges (base rent, expense recoveries, percentage rent and/or any other cash consideration) required to be paid by a tenant under a lease for a specified period of time. They are free rent periods that can be shared across many assets, typically created at the Budget level.

Pane 1

Name - Unique title

Status

• Active - Available wherever applicable
• Inactive - Disables applicability throughout the application; removes it from drop-down lists

Input Type

• Simple - All detail is contained in the pane 1 row
• Detailed - Opens pane 2 where month detail is added

New Free - Number of free months

Renewal Free - Number of free months for a renewal

Portfolio - The buildings that can use it:

• All Portfolios - Available to all buildings in the budget
• Client Admin Portfolios - Filters the availability of the named item to only the buildings included in the assigned Portfolio.

Notes - Read more: Notes

Pane 2 when Input Type = Detailed

Month - Start month

Percent Abated - Percentage value

New Free - Number of months abated

Renewal Free - Number of months abated upon a renewal

Edit

Alert: Careful attention is required when editing named items as the changes will affect all using the named item(s). Edits to named items (Financial Components and Market Items with the exception of Template Leases) flow through to other Financial Components and Market Items and update all tenants that are assigned these named items on the Rent Roll tab.

Delete

Note: In use named items (Market Items and Financial Components) cannot be deleted. In order to delete a named item, it must not be assigned to any other named items, budgeting tabs, and/or tenants on the Rent Roll tab.

Using

Abatements are charge and recovery expedites in pane 2 of the Rent Roll Tab grid, as well as, Market Leases and Template Leases. All available are listed in drop-down menu of the Abatement column.

1. Click Charges(#) or Recoveries(#); pane 2 appears.
2. Click "Add'' on the pane 2 toolbar or right click and select "Add Charge" from the menu. All available Budget & Building level items appear in the Abatement column drop-down list.
3. Select one, in addition to all other pertaining pane 2 detail and Save on the pane 2 toolbar or right-click select "Save Charge" from the menu.

View Monthly Amounts

On the Rent Roll tab, right-click the row in pane 2 and select "View Monthly Amounts" from the menu; a pop-up window appears containing all monthly amounts during the lease period.