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Real Estate Portfolio Management / Lease Administration / Reports

Lease Abstract Report

The Lease Abstract report presents a high-level summary of your lease portfolio, and details for each lease, including a lease's average monthly costs, and the yearly net income by Area - Neg. Rentable, a benchmark that provides a measurement of how expensive a leased space is in relation to the area being charged for.

You can use the Lease Abstract report in a variety of ways:

• The report provides key information that helps you decide whether to lease or to buy, to terminate a lease, or to exercise options.
• When researching space to rent, tenants can examine the lease abstracts for the spaces and quickly compare the key points of each lease to aid in their decision-making of this significant expense.
• You can use this report as a landlord renting out space to tenants. For example, a real estate broker needs this information when touring and presenting space to potential tenants.
• The report provides landlords with an accounting of their vacant and leased space.

You access this report by selecting Lease Administration / Lease Portfolio / View Abstract...Lease.

This topic includes the following information:

• Restricting and Viewing Report Data
• Lease Abstract Report Calculations
• Lease Abstract Report when Using ARCHIBUS Enhanced Global Feature Set

Restricting and Viewing Report Data

The Lease Abstract report presents its information on the following tabs from which you can set a restriction and view report data:

• The Lease Abstract Overview tab:
  • Includes a Filter console so you can set restrictions that determine the costs and locations included in the report. For example, using the Filter console, you can specify the types of costs to examine (Recurring, Scheduled, Actual, or a combination), as well as the time frame for which to analyze these costs

    When reviewing the financial reports, be sure to consider how the Filter console was completed. See Understanding Financial Analysis Reports for more information on how costs are selected. 

    Note: To set a custom date range, Select Other Date Range, and then enter a Start and End Date.

    See Using the Filter Console for more information on using filter consoles.

  • Provides information for each lease included in the report, and cost totals and area totals for all leases. See Lease Abstract Report Calculations for information on the calculated fields shown in this report.
  • Enables you to generate the information on this tab as a paginated report (DOCX file) using the Report button, and to export the data to Excel using the XLS button.
• Details tab: Click the Details button for a lease to review detailed information for the building or property the selected lease is associated with, lease details including areas, tenant or landlord contact information, average monthly lease costs, Yearly Net Inc / Neg Rent Area, options, and contacts. You can generate a paginated report (DOCX file) for the selected lease using the Report button. The report includes a photo if one has been added for the building or property the lease is associated with.

Lease Abstract Report Calculations

Note: When you are using the ARCHIBUS Enhanced Global Feature Set, the Lease Administration Abstract reports present Base Costs, VAT Costs, or Total Costs (depending on your selection) in the currency you select. These reports show area fields using the unit of measure (Metric or Imperial) designated by the User Display Unit of Measure field entered in your User Profile.

The Lease Abstract Report includes several types of calculated fields:

• Lease Cost fields that are based on costs entered for the lease using the Cost Wizard. See Cost Wizard Overview.

  For the Amount - Base Rent, Amount - Pct. Rent, Amount - Operating, Amount - Other Costs, and Amount - Tax fields, the report calculates a net income (income - expenses) value for each cost category's cost type.

  For the average monthly cost fields, the program calculates each cost category as net income for the cost analysis date range set in the Filter console, then divides it by the number of months in the date range.

  See Lease Costs section of the topic Cost Calculations for Reports for a description of these costs.

• Lease negotiated area fields that summarize the area that can be charged for. See Lease Negotiated Areas.
• Lease measured area fields that summarize the measured area. See Lease Measured Area.
• Occupancy - Total Suite, a field that is summed from the Suite Occupancy values for all suites assigned to the lease. You enter Suite Occupancy values when you enter the suite record using the Add/Edit Wizard or the Add/Edit Form - Complete.
• The Yearly Net Inc / Neg Rent Area, a benchmark for evaluating how expensive a leased space is based on the Area - Neg. Rentable area, the lease's negotiated area. See Lease Benchmarks section of the Benchmark Calculations for Reports topic.

Lease Abstract Report When Using ARCHIBUS Enhanced Global Feature Set

When the ARCHIBUS Enhanced Global Feature Set is enabled, you can generate the Lease Abstract report to show Total Costs, Base Costs, or VAT Costs using the currency you select. Just as when the ARCHIBUS Enhanced Global Feature Set is not enabled, the Lease Abstract report calculates base rent, operating costs, taxes, and utilities as a net income (income - expenses) value for each cost category's cost type. However, when the ARCHIBUS Enhanced Global Feature Set is enabled, the report shows this net amount as Total Costs, Base Costs, or VAT Costs depending on the selections you make to generate the report. See Selecting VAT Cost Types and Currency for Reports for a description of the cost fields used to show VAT costs in different currencies.

The Amount Security Deposit is entered as a Base Cost using the Budget Currency. It is shown in your User Default Currency. This field is not affected by the selections you make using the VAT buttons, but you can use the Currency button to view the costs using different currencies and exchange rate types.

Differences between Costs on the Overview tab and the Details tab

When you have enabled the ARCHIBUS Enhanced Global Feature Set, note the following differences between the costs shown on the Overview tab and on the Details tab of the Lease Benchmark, Property and Building Benchmark, Property/Building/Lease Abstract, or the Rent Roll reports:

• VAT Cost types: The Overview tab shows costs using the VAT cost type you select. Using the VAT button, you can select to view Total Costs, VAT Only, or Base Costs. The Details tab always shows Total Costs, no matter what selections you make using the VAT button.
• Exchange rate type: When you first generate the report, for the Overview tab, the application converts costs from their payment currency to the display currency using the exchange rate type associated with the display currency (this can be either the payment or budget exchange rate type). The Details tab always shows costs using the budget exchange rate type, regardless of the exchange rate type selection made using the Currency button. For this reason, depending on your selections, different exchange rate types might have been used for the costs, and this can contribute to a difference between the costs shown on each tab.
• Effects of rounding The costs shown on the Overview tab have been converted from their payment currency to the display currency. For the Details tab, the application uses costs already converted to the budget currency from their payment currency, and converts them to the display currency. Because costs on the Details tab have an extra conversion, the rounding of decimal places when applying conversion rates can impact costs on the Details tab more than costs on the Overview tab.