Recoveries

Adding

Step 1

Info: A record should be added for each Recovery that the Tenant is currently obligated to pay (i.e. if taxes and operating expenses are combined, only one record would be set up; if they are recovered separately, two recoveries would be set up.

Select Recoveries from the Navigation Tree and click "Add" in the Pane 1 Toolbar.

Step 2

Specify the following information:

1. Recovery Name: Enter a name for the Recovery (i.e. Tax + Operating, Taxes, etc).
2. Recovery Pool: From the drop-down list, select the appropriate Recovery pool (if you need a pool that does not exist, it can be added at the Building | Recovery Pools screen).
3. Type: Select "Net" or "Gross", as appropriate.
4. Status: Select "Active" or "Inactive."
5. Document/Section: Add a reference to the document/section.
6. Click "Save."
7. Space: Click the hyperlink to "Spaces," and select the applicable Space (see Step 3 below).
8. Notes: If Notes are needed to add anything about the charge, add a Note.
9. Dates: Add Critical Dates if the pro-rata share and/or base year, or some other important information related to the Recovery record, changes on a future date.

Step 3

Select the Recovery to which Space will be attached and click the Space hyperlink.

The Space Wizard pop-up will appear. The left window displays all available Spaces.

Select the appropriate Space(s) and use the arrows to move to the Selected Spaces window and click "Update."

Step 4

1. Highlight the Recovery in Pane 1.
2. Click "Edit" in the Page 2 Toolbar.
3. Income Category: From the drop-down list, select the applicable income category.
4. Base Year: Enter the current base year for the Recovery (i.e., 2008, FY 07/2008-06/2009, etc.). [Note: This field is disabled for net Recoveries.]
5. Stop Amount and Stop Amount Type: If the Lease provides a stop amount, enter the amount and type. If not, leave blank.
6. Cap: Is there a cap on the Recovery? Select "Yes" or "No."
7. Pro Rata %: If provided in the Lease, enter the %. If not provided, leave blank
8. Gross Up %: If the Lease allows for a gross-up, enter the %.
9. Administrative Surcharge %: If an administrative surcharge can be added (used typically for retail Leases), enter the %.
10. Click "Save."

Info: Descriptive, textual Recovery information is added in the Expense Recovery Clauses (see Clauses).