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Reports—Renewal & Forecast—Rent Forecast
The Rent Forecast Report lists units and buildings with forecasted rent amounts for a specified period and is used to show expected rents or concessions for that extended time period.
Expected rents or concessions are based on billing activity that has already occurred or on future recurring charges. The report can be restricted by income code type Rent, income code type Concession, or by user-selected income codes.
NOTE
The report is designed strictly as a forecasting tool. It does not look at actual charges and therefore cannot be used as a historical report.
Series
When printing in series the Starting Period is not defined in the series prompt setup. If predefined with no-override is chosen the starting period will not be able to be changed from the default.
Calculations are based on the Lease dates of the Residents, adjusted by Start Billing, Stop Billing, Move-Out, Pro In, FFP, and Charge Ends. Amounts are reported by period, as defined in the Period Setup, not by calendar month.
The amounts will be the actual amount projected to be charged during that particular Period.
Example:
Assume Periods run from the 25th to the 24th of the month, the charge starts on 6/16/2016 for 600 with an FFP of 7/1/2016.
Period 6 will show a charge of $300 (15 out of 30 days); Period 7 will show $600.
If there are multiple leases they will be added together.
Technical Details on Calculations
Residents are selected for inclusion in the calculations of a unit's charges if they:
a) Have no Move-Out date or the Move-Out date is after the first date of the report (so they did not move out prior to the start date of the report).
b) Have no Cancel date or the Cancel date is after the first date of the report (so they did not cancel prior to the start date of the report).
c) Have a Lease Begin date and that Lease Begin date is prior to the end of the report (so they have a Lease that is active for a portion of the report).
If amounts are being forecasted, then incomplete Lease Renewals will be applied.
Proration - Amounts for included Residents are prorated, if needed, based on the Pro-In date, FFP date, Start Billing, Stop Billing, Charge Ends and/or Move-Out dates, using the same methods that BOD/Lease Charges use.
The Period amount - The is the amount that will be charged during that period. Amounts are not further prorated based on period dates.
When Frequencies are used, the charges are not converted to a monthly basis, so a quarterly charge would appear every 3 months, a semiannual charge every 6 months, etc.
When determining last rental rates, if a Resident is included in a unit then the last Resident with Lease charges on the Lease Ends date / Move-Out date is what is used.
On the date that the lease expires, the system assumes the unit will become vacant therefore assesses no future charges. In addition, the system will not record any rents to existing vacant units.
Lease Expiration Dates & Move-In Assumptions
On the date the lease expires, the system makes move-in assumptions:
For each month from that date until the average number of months vacant is reached, the system records a rent amount of $0 to that unit.
After that, the unit is assumed to have been leased again at a total rental rate based on a percentage of either the unit's market rent or the rental rate charged to the most previous resident.
Any existing vacant units are also assumed to become leased after the specified number of months.
Select Properties
Click to select properties from the Select Properties pop-up. The report runs for all selected properties.
Print by Building (check box)
Not Checked - When not checked (default), the report prints by unit and there is a property total.
Checked - Check the box to print the report by building. This option is not available when Buildings are not set up.
When printing by building to PDF or Crystal Viewer, each building starts on a new page and building totals appear in the report.
When printing by building to Excel, each building starts on a new page and building totals appear in the report. Units are sorted by building and then unit or unit type, depending on the unit type choice.
From Building / Thru Building
Click the Lookup icon
to display
the Select pop-up and select range of IDs for the buildings you want to
print.
To Print a report for an individual building, select the same ID for both From and Thru.
From Unit / Thru Unit
Click the Lookup icon to display
the Select pop-up and select range of IDs for the units you want to print.
To Print a report for an individual unit, select the same ID for both From and Thru.
Print Detail by Unit
Select Yes (default) to print the individual amounts by unit.
Select No (does not apply to Excel output) to not include individual amounts by unit. Note that this option does not apply to Excel with formulas output.
Print Totals by Unit Type
Select Yes (default) to subtotals by unit type. In addition, the units are sorted by unit type and then unit number.
Select No to not include subtotals by unit type.
Starting Period
This field defaults to the next period of the current property. Or, enter another starting period in the format MM/YYYY. Forecasted data is computed as of this period.
Calculation Method (unlabeled)
NOTE that you can select only one of the following three buttons: Rent Forecast (default), Concession Matrix, Selected Income Codes. The option you select may show additional fields after selection. See all subsequent field descriptions below for details.
Rent Forecast (button)
Select the button (default) to include all income codes of type Rent when calculating the values.
Or, select another of the three options.
Concession Matrix (button)
Select the button to include all income codes of type Concession when calculating the values. This option does not allow for forecasting based on Market rents.
Or, select another of the three options.
Selected Income Codes
Select the button to include selected income codes when calculating the values. This option does not allow for forecasting based on Market rents.
Any number of income codes can be selected from the drop-down box that appears. This field is only available if this option is selected.
Or, select another of the three options.
Forecast future amounts
Select Yes (default), and then future lease renewals and projected future amounts are included in the report.
Select No, and then only recurring charges through the end of the current lease are included in the report.
Average Vacant Months
When forecasting future amounts, how many months should the unit be assumed to be vacant?
The default in the field is 1 month. You can click in the field and change the number of months.
NOTE that the other options you see on this line depend on which method you selected: Rent Forecast, Concession Matrix, or Selected Income Codes.
Base On
When forecasting future amounts should the new amount be based on the unit Market rent or on the last rental?
Options are Market and Last Rental Percent, although available options vary depending on previous selections.
NOTE that after selecting an option, enter a percentage in the Last Rental Percent field, if applicable.
Market - Select this option to base it on the unit Market rent.
Last Rental Percent - Select this option to base it on a percentage of the Last Rental.
Next, enter a percentage to be used in the calculation. So, when forecasting, what percentage of that amount should be used?
Examples:
Enter 100 to indicate using 100% of Market rent or of last rental.
Enter 105 to indicate using a 5% increase over the Market rent or last rental.
Last Rental Forecast based on
If forecast amounts are based on the option, Last Rental Percent, then how should the last rental calculation be done? Options are Monthly Average or Prior Frequencies.
Monthly Average - The recurring charges are converted to a monthly basis and the monthly total is used.
Frequencies - The recurring charge frequencies are based on the prior residents charges.
NOTE that this option only appears if Last Rental Percent is selected, above. (See Average Vacant Months.)
Include Actual Charges
Selecting this option includes actual charges (Transaction types 1, 2, and 9) into the period amounts based on the G/L period of the transaction.
Include Current Name
Selecting this option includes the name of the resident / tenant who is “current” on the starting date of the starting period of the report. Current is defined as having the status of Current, On-Notice, or Transfer Out. If there are multiple such residents/tenants, only one name is shown on the report.
The resident's/tenant's lease Begins and lease Ends date are also included when you select this option.
Report Format
Select a report format for the report.
To Display the Rent Forecast Report
See Also
Renewal and Forecast Reports Overview
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