Effect of Property Policies on Marketing Status Report

Effect of Property Policies on the Marketing Status Report

Property policies define how eSite responds. For the Marketing Status Report, property policies affect how the report counts are calculated. The choices are made in the Property Policies Group Leasing Activity category. The settings determine the last day of the reporting week, when a unit is counted as Leased, how leasing activity reports define traffic counts, and if Model and Other use units are counted as occupied.

The setting for Move-Out determines if a unit is considered occupied on the day the resident moves out. If active, the lease status does not change to Previous until the day after the move-out date and is excluded from lost rent calculations on the Lost Rent Report. If not then the unit is counted as Occupied on the day before the move-out. The unit is not considered Vacant until the actual move-out date, at which time the unit status changes to Previous.

When is a Unit is Considered Occupied or Vacant?

It is important to understand how the system defines an Occupied unit and a Vacant unit.

If the unit occupancy status is Model and the property policy, Model units count as occupied is active then the unit is considered occupied.
If the unit occupancy status is Other and the property policy, Other Use units count as occupied are active then the unit is considered occupied.
If the unit occupancy status is Normal or Employee and if there is any lease linked to that unit with a resident status of Current, Transfer or Notice (calculated as of the report End of Week date), and the property policy, Unit counts as Occupied on the day of Move-Out is active then the unit is considered occupied.
In all other cases, the unit is considered vacant.

When is a Unit Considered Leased?

A leased unit is defined as leased if at the prompted End of Week date, it satisfies the definition of the property policy, A unit is counted as Leased when found in the property policy Leasing Activity category.

What is the definition of a Lease Concession?

A lease concession is comprised of the total concessions given up over the life of a lease and any lease renewal. Lease Concessions are only computed for units:

considered leased during the report date range and are defined as the sum of all recurring charges (converted to monthly, if necessary) to income codes of type Concession which were applied or will be applied during the period of time from the beginning of the reporting week through the end of the lease,

PLUS

the sum of all renewal detail charges (converted to monthly, if necessary) to income codes of type Concession which will be applied during the period of time from the beginning of the reporting week through the end of the lease renewal.

NOTE that an administrator can change policy settings. Caution should be exercised when altering defaults or established settings, as changes can have far-reaching effects on the way the system handles the Marketing Status Report..