terms and problems
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Property Description | show 🗑
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| Timing | show 🗑
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| Property Size | show 🗑
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| Inflation Rates | show 🗑
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| Reimbursement Method | show 🗑
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| Miscellaneous Revenues | show 🗑
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| show | Those property level expenses that are reimbursed by the tenant/s (e.g. Common Area Maintenance, Real Estate Taxes and Insurance).
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| show | Those property level expenses that are not reimbursed by the tenant/s (e.g. administrative).
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| show | Expenses anticipated to be incurred by the property that are scheduled instead of recurring (e.g. roof, parking lot). Reserves for future capital expenditure are typically modeled here.
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| General Vacancy Loss | show 🗑
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| show | Average anticipated loss of rent payment typically based on credit risk of tenant base (e.g. McDonalds versus Mom & Pop Burgers). **Use percent of potential gross revenue which is applied all sources of revenue**
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| Rent Roll | show 🗑
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| show | Name of tenant that that occupies the subject property as of the start date of the holding period.
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| Suite | show 🗑
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| show | Type of space occupied by tenant (e.g. office, retail, industrial)
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| show | Size of tenant in square feet.
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| show | Date of lease commencement. Enter date in MM/YY, the number of months from the start date of the holding period, or leave blank to default to analysis start date.
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| show | Date of lease termination. Enter date in MM/YY or the number of years from the start date.
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| Base / Min Rent | show 🗑
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| Unit of Measure | show 🗑
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| Rent Changes | show 🗑
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| show | Method by which corresponding tenant reimburses 'Reimbursable' property level expenses.
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| show | None, Net and Base Stop (defined in other cards)
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| show | Tenant has a "full service" gross lease and does not reimburse any property level expenses.
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| Net (reimburse) | show 🗑
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| show | Tenant has a "modified" gross lease and reimburses on a pro-rata share basis those reimbursable property level expenses that exceed in aggregate those established in the first year of tenant lease.
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| show | Free rent provided to tenant over a specified term for corresponding tenant. Typically used as a tenant incentive to execute a lease.
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| show | Costs incurred by owner to lease space for corresponding tenant (RR - Tenant Improvements & Leasing Commissions)
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| show | Cost incurred by owned to improve the tenant space prior to occupancy.
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| Leasing Commissions | show 🗑
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| Market Leasing | show 🗑
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| Property Description | show 🗑
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| Property Type | show 🗑
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| show | contains spaces to enter Analysis Start Date*, Reporting Start Date*, and # of Years to Report/End Date* -1-
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| Analysis Start Date | show 🗑
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| Reporting Start Date | show 🗑
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| show | where you enter the size of the property. At a minimum, enter a size in the Property Size field; create by clicking New enter a category name and size OK -1-
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| show | Thousand = K; Million = M; Billion = B -1-
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| Property Inflation | show 🗑
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| Miscellaneous Revenues | show 🗑
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| show | the number in the Amount column will be interpreted as a percentage of the Effective Gross Revenue (EGR or EGI) -2-
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| $ Amount | show 🗑
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| $/Area | show 🗑
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| % of Constant | show 🗑
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| show | the Percent of Line window allows the revenue to be based on a percentage of other items in the property -2-
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| show | property expenses the landlord will recover; Will be available for reimbursement by the tenants; common RE may include “CAM, Taxes, Insurance, Repairs and Maintenance…etc.” -2-
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| show | of tenants available, they’ll pay for all expenses under the Reimbursable Expense window; makes for unhappy tenants -2-
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| show | allows one to enter values that starts and stops at specific times, or changes during the analysis period -2-
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| show | expense that are not considered part of a property’s Net Operating Income; *appear in the Leasing and Capital Costs section of the Cash Flow Report* -2-
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| show | accessed from the Reports Menu, provides ‘high level’ reporting; includes Cash Flows, Debt Information, Property Resale, and Discounted Cash Flows -2-
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| show | tenant information input screen; includes registry of tenants -3-
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| Tenant Registry | show 🗑
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| show | where one enters the lease start date as the actual date (mo/yr) or as a month number relative to the analysis start date. Mid-month lease* -3-
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| show | in the Options Menu Input “Allow Leases to Start and End on Specific Dates”, this allows dates in the rent roll to be entered in a MM/DD/YY format. -3-
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| Term/Expire (rent roll) | show 🗑
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| show | used to define how a tenant is to reimburse operating expenses; none, net or base stop -3-
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| Reimbursement “None” | show 🗑
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| Reimbursement “Net” | show 🗑
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| show | used for gross leases; this selection will calculate a base year stop for the tenant; is a pro-rata calculation on either a calendar or fiscal year (Prop Infl -> Reimb Method) based upon Reimbursable Expenses in the ear the lease commences.
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| Rent Abatement | show 🗑
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| Leasing Costs (Rent Roll) | show 🗑
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| Market Leasing Assumptions | show 🗑
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| show | if the market rent changes during the analysis, or if it is to inflate at a different inflation rate than in the inflation rates screen, click “Detail” under Market Rent in the MLA -3-
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| Upon Expiration (MLA) | show 🗑
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| Market (UponExp, MLA) | show 🗑
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| Renew (UponExp, MLA) | show 🗑
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| Vacate (UponExp, MLA) | show 🗑
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| show | forces a 100% renewal. Select Option only if you know the specific rent and parameters of the optionterm. If Option is selected, it will entirely ignore the MLA, and will insert a new lease line into the Rent Roll -3-
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| show | all income for that space will disappear after the initial lease term exp. leaves the space avail for another tenant to absorb the space or allows the space to be “reabsorbed” so that the space can be leased out in smaller sections at diff times -3-
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| Non-Contiguous (UponExp, MLA) | show 🗑
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| Property Purchase and IRR | show 🗑
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| Capitalization Period | show 🗑
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| show | where resale assumptions are made, and the program offers several ways to calculate the sale at the end of the analysis -4-
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| Capitalize Net Operating Income (Resale) | show 🗑
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| show | use the NOI from the year following the end of the analysis to calculate the final year’s reseal proceeds -4-
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| Calculate Resale for All Year (Resale) | show 🗑
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