Change Market Rents Tab

Make the following selections from the eSite menu to display this page:

Processing—Change Market Rents

Use Change Market Rents to update market rents for Standard, MTM, and Other renewal amounts for one or more units or unit types.

Fields

Select Properties

Click to select properties from the Select Properties tab. The report runs for all selected properties.

Use Property Selection?

Checked—change Market Rents for all properties selected in Select Properties (eSite—Processing—Select Properties).

Unchecked—(default) change Market Rents for the current property only. Your current property name and ID displays in the lower right hand corner of your eSite status bar.

Apartment Type

From the drop-down list, select which apartment type to change market rents for.
Options: Select one or select BLANK for all.

Update Apt Type Rents?

Checked—change market rents for the selected apartment type defined in the Apartment Type drop-down.

Unchecked—(default) do not change market rents for the selected apartment type defined in the Apartment Type drop-down.

Current Market Rent

The amount defaults to 0. Accept the default or enter another market rent amount for the units whose amounts are being updated using the format 0000.00. Or use the Calculator Button to figure an amount.

Rental Rate

From the drop-down list, select which Rental Rate to change Market Rents for. Only units having this Rental Rate will be changed. Options:

$ Per Sqft — The market rent is based on a dollar amount per square foot. The amount is calculated as annual.

Annual — The market rent is the annual Market Rent amount.

Monthly — The market rent is the monthly Market Rent amount.

Date of Last Change

Enter the date of the last market rent change using the format mm/dd/yyyy. Or use the Calendar Button to select a date.

Building

If applicable, enter the building number of the unit or units being updated or select the down arrow to display an electronic calculator.

Apartment

If updating one unit at a time, enter the apartment number whose market rent should change.

Type of Change

Use the drop-down to select the method that best describes what you want to accomplish:

No Change—(default) do not change this rent amount. The Amount field is disabled if this selection is made.

Actual Amount—this rent is changed to the amount entered in the Amount field.

Step Up—this rent is increased (by a positive value) or decreased (by a negative value) by the amount entered in the Amount field.

Percentage—this rent is increased (positive value) or decreased (negative value) by the percentage amount entered in the Amount field.

Amount

The Type of Change selection governs changes to this field. Refer to Options listed under the Type of Change field for details.