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Rent Rate Changes
Any custom rate
changes dictated in the lease can be entered in Lease Maintenance.
Custom rate maintenance allows the creation of an unlimited number
of rate changes on a charge line, sets date ranges for them,
designated the type of change, and tracks them indefinitely. Rate
will automatically take effect on the specified start date.
Calculation
types for rate changes include:
-
Fixed – which
adds a fixed amount to the base rent.
-
Percent –
which adds a percentage of the base rent.
-
CPI – which
calculates the change amount based on the consumer price index.
-
Add-on –
which calculated the change from tenant gross sales.
-
Versus which
is the same calculation as Add-on, but the calculated amount must
be no less than the base rent.
When
calculating on a CPI, Add-on, or Versus basis, the min/max controls
can be used to set minimum and maximum rent rate computations.
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