Change Market Rents Overview

Use Change Market Rents to update market rents for standard, MTM and other renewal amounts for one or more units or unit types. If changing market rent for a selected unit, only that unit is updated with the change if the Override Market Calculated Amount field is checked on the Units Tab. If the Update Unit Type Rents field is selected when running the process, then all units with that unit type are updated with the specific changes for any amounts regardless of the setting of the Override Market Calculated Amount field.

Four methods are available for changing the Market Rent:

No Change — The current market rent amount is not changed when the Change Market Rent process is run and the amount column is not active. This is the default option listed on the Change Market Rents Tab.
Actual Amount — The current market rent amount is changed to the amount entered in the Amount field on the Change Market Rents Tab. For instance, if the Current Rent is $800.00 and the value entered in the Amount field equals $840.00, then the changed rent equals $840.00.
Step Up — The current market rent amount is increased or decreased by the amount entered in the Amount field on the Change Market Rents Tab. For instance, if the Current Rent is $800.00 and the value entered in the Amount field equals $40.00, then the changed rent equals $840.00.
Percentage — The current market rent amount is increased or decreased by the percentage entered in the Amount field on the Change Market Rents Tab. For instance, if the Current Rent is $800.00 and the value (percentage) entered in the Amount field is 5, then the changed rent equals $840.00.