Lost Rent Report Overview

The Lost Rent Report shows units (excluding Wait List and Construction units) that have accumulated lost rent amounts due to vacancy or rental concessions.

Lost Rent is defined as the amount affected by vacancy, prorations and by rental concessions (such as administrative units).

The property policy Method to calculate Lost Rent determines how vacancy is calculated. Refer to a description of this policy in the policy settings Calculations category for more information.

Unallocated Lost Rent is calculated a bit differently. If the property policy, Method to calculate Lost Rent is set to Fixed Potential, then unallocated lost rent is calculated as Unit Lost Rent – Allocated Lost Rent. If the property policy, Method to calculate Lost Rent is set to Floating Potential, then the system:

- finds the unit potential rent

if the unit is vacant, then the unit potential rent = unit market rent
if the unit is not vacant, then the unit potential rent = sum of all active charges (converted to monthly, if needed) for all residents with a Current status and where the income code Potential flag is set to Y.

- finds the potential billed

potential billed = sum of all billings or adjustments (1, 2, or 9) transactions that are due in the current accounting period where the income code Potential flag is set to Y
unallocated lost rent = Unit Potential Rent – Potential Billed

Prior Vacancy is calculated as the sum of all billings or adjustments (1, 2, or 9) transactions that were created in the current accounting period but were due in a prior accounting period where the income code Potential flag is set to Y.

- if the property policy, Method to calculate Lost Rent is set to Days Vacant at Market then,

determine the number of days the unit has been or will be vacant in the current accounting period. No adjustment is made for expected move-ins/move-outs; only the actual activity is processed.
unallocated lost rent is calculated as days vacant X market rent/days in current accounting period.

- if the property policy, Method to calculate Lost Rent is set to Days Vacant at Last Rent then,

for each time period the unit is vacant during the accounting period determine the number of days it was or will be vacant. No adjustment is made for expected move-ins/move-outs; only the actual activity is processed. Also, determine the unit potential rent of prior resident; if no prior resident is found then market rent is used. Partial vacancy is calculated as Days Vacant X unit potential rent/days in current accounting period.
unallocated lost rent = sum of partial vacancy