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Real Estate Portfolio Management / Lease Administration/
Real Estate Portfolio Management / Cost Administration
Real Estate Portfolio Management / Portfolio Management

Cost Calculations for Lease and Property Reports

Reports, such as the Abstract, Rent Roll, and Benchmark reports, include calculated costs that provide summary information for your properties, buildings, and leases.

This topic has the following sections which provide the lease, building, and property cost calculations and the corresponding reports.

Lease Costs
Building Costs
Property Costs

Lease Costs

The Lease Abstract, Rent Roll, and Lease Financial Summary reports summarize the following values for costs assigned to the lease for the Base Rent, Pct. Rent, Tax, Operating, and Other costs types. These values are stored in the Leases table.

Note: 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.

The reports use the following calculations for each lease included in the report:

Cost	Description	Calculation	Shown in these reports
Amount - Base Rent	This amount provides the net income for the Base Rent cost type.	sum of (Income minus Expense) values for Cost records whose Cost Category Cost Type is Base Rent.	Lease Abstract Rent Roll
Amount - Pct. Rent	This amount provides the net income for the Pct. Rent cost type. The Pct. Rent cost type identifies costs that are determined from a percentage of sales or gross receipts. This cost type is typically used for costs associated with leases for retail properties.	sum of (Income minus Expense) values for Cost records whose Cost Category Cost Type is Pct. Rent.	Lease Abstract Rent Roll
Amount - Operating	This amount provides the net income for the Operating Exp. cost type.	sum of (Income minus Expense) values for Cost records whose Cost Category Cost Type is OPERATING EXP.	Lease Abstract Rent Roll
Amount - Taxes	This amount provides the net income for the Tax cost type.	sum of (Income minus Expense) values for Cost records whose Cost Category Cost Type is TAX.	Lease Abstract Rent Roll
Amount - Other Costs	This amount provides the net income for the Amount - Other cost type. This amount summarizes costs for any cost type except Base Rent, Operating, Tax and Pct. Rent. Note: The Amount - Other Costs for leases is calculated differently than the Expense - Other Total for properties.	sum of (Income minus Expense) values for Cost records whose Cost Category Cost Type is NOT IN (BASE RENT, OPERATING EXP, TAX, PCT. RENT).	Lease Abstract Rent Roll
Net Income	The sum of Net Income for the Base Rent, Pct. Rent, Operating, Taxes, and Other Cost Category Cost Types. If you have set a filter to include only leases that have a positive Net Income (such as those for which you are the landlord), then only those lease are included in the report. If you have set a filter to include only leases that have a negative Net Income (such as leases for which you are the tenant), then only those leases are included in the report. By default, the report includes all leases.	sum of (Amount Base Rent + Amount Pct. Rent + Amount Operating + Amount Taxes + Amount Other Costs)	Lease Abstract Rent Roll

The reports includes the following monthly costs. .

Cost	Description	Calculation	Shown in these reports
Average Monthly Costs: The following averages are calculated for each lease included in the report. The number of months in the report period is determined by your entry in the Filter.
Avg. Monthly Base Rent	This amount is the monthly average for the net income for BASE RENT costs for the report's time frame.	(Amount-Base Rent) Number of Months within the report period	Lease Abstract Lease Benchmark
Avg. Monthly PCT.Rent	This amount is the monthly average for the net income for PCT. RENT costs for the report's time frame.	(Amount PCT. Rent) Number of months within the report period	Lease Abstract Lease Benchmark
Avg. Monthly OP. Costs	This amount is the monthly average for the net income for OPERATING costs for the report's time frame.	(Amount Operating) Number of months within the reporting period	Lease Abstract Lease Benchmark
Avg. Monthly Taxes	This amount is the monthly average for the net income for TAX costs for the report's time frame.	Amount - Taxes Number of months within the reporting period	Lease Abstract Lease Benchmark
Avg. Monthly Other Costs:	This amount is the monthly average for the net income for OTHER costs for the report's time frame. Other costs are cost records that have a cost category - cost type that is not Base Rent, Operating Exp., Taxes, or Pct. Rent.	(Amount Other Costs) Number of months within the reporting period	Lease Abstract Lease Benchmark
Avg. Monthly Net Income	This amount is the monthly average for net income for the report's time frame.	Sum(Amount Base Rent + Amount Pct. Rent + Amount Operating + Amount Taxes + Amount Other Costs) Number of months within the reporting period	Lease Abstract Lease Benchmark
Annual Expenses and Income - These amounts are the average annual costs based on the actual costs incurred during the report's time frame. The data is normalized to reflect yearly costs. For example, if the report uses a Start Date and End Date that cover a three month period, the cost data is multiplied by 4 to estimate yearly costs.
Annual Rent Exp.	This is the average annual expense amounts for Cost records whose Cost Category Cost Type is BASE RENT, OTHER RENT, or PCT. RENT. Use this field to review a lease’s average annual rent expenses.	({Amount - Total Rent Expense}* (365 / (({End Date - Start Date}) + 1)))	Lease Financial Summary
Annual Other Exp	This is the average annual net income amounts for Cost records whose Cost Category Cost Type is OTHER, OPERATING, or TAX. Use this amount to review a lease's average annual net income for all costs except Rent.	(({Amount - Operating} +{Amount - Other} + {Amount - Taxes}) * (365 / (({End Date - Start Date}) + 1)))	Lease Financial Summary
Annual Total Exp	This amount summarizes a lease’s average annual expenses by adding expenses for the Rent Expense cost category cost type, and net income for the OPERATING, OTHER, and TAX cost category cost type. Use this field to review a lease's average annual total expenses.	(((Amount - Total Rent Expense) + (Amount - Operating + Amount - Other Costs + Amount - Taxes)) * (365.0 / ((({End Date - Start Date}) + 1)))	Lease Financial Summary
Annual Total Income	This is the sum of the income values for cost records whose cost category cost type is BASE RENT, PCT. RENT, OTHER RENT. Use this field to review a lease's annual average rental income.	((Amount - Total Rent Income) * (365.0 / (End Date - Start Date) + 1))	Lease Financial Summary

Building Costs

The Building Costs section of the Building Abstract report (Details tab) sums the following costs entered for the building. The amounts are stored in the Buildings table.

Note the following about building costs:

Costs that are always expenses at the building level, such as operating costs, taxes, and utilities are calculated as net income so that you can review the expense adjusted by any incidental income for that cost category. Since these cost categories for a building are never going to primarily generate income, the report uses the title "Expense" for these net income amounts.
Costs that are assigned to a property or lease, but not assigned to a building, are not summed to the building, even though the property or lease may be associated with the building.
If you assign a cost to both a lease and a building, the cost will show up in both the lease and building analysis.

Field	Description	Calculation	Shown in these reports
Expense - Operating Total	This amount summarizes a building's operating expenses as net income; the operating expenses are subtracted from any incidental income for the OPERATING EXP cost type.	Sum of (Income minus Expense) values for cost records whose Cost Category Cost Type is OPERATING EXP	Building Abstract
Expense - Utility Total	This amount summarizes a building's utility expenses as net income; the utility expenses are subtracted from any incidental income for the UTILITY cost type.	Sum of (Income minus Expense) values for cost records whose Cost Category Cost Type is UTILITY	Building Abstract
Expense - Tax Total	This amount summarizes a building's tax expenses as net income; the tax expenses are subtracted from any incidental income for the TAX cost type.	Sum of (Income minus Expense) values for cost records whose Cost Category Cost Type is TAX	Building Abstract
Expense - Other Total	Use this field to review summarized expenses for cost types other than the major categories of TAX, UTILITY, or OPERATING EXP. If these "other" costs also have income amounts, this income is summarized in the Income Total amount. Note: The Expense - Other Total field for buildings is calculated differently than the Amount - Other Costs for leases.	Sum of (Expense) values for cost records whose Cost Category Cost Type is NOT IN (TAX, UTILITY, OPERATING EXP.)	Building Abstract
Expense Total	This amount summarizes the net income "expenses" for the TAX, UTILITY, and OPERATING EXP. cost types, and the expense amounts for all other cost types. In this way, it summarizes the building's expenses.	Sum of {Expense - Oper. Total, Expense - Utility Total, Expense - Tax Total, Expense - Other Total}	Building Abstract
Income Total	Use this field to review income-producing costs for a building, for example, fees or rent you receive from a tenant. This amount summarizes income for a building for cost types that are not TAX, UTILITY, or OPERATING EXP.	Sum of (Income) values for cost records whose Cost Category Cost Type is NOT IN (TAX, UTILITY, OPERATING EXP.)	Building Abstract

Property Costs

Property reports include summarized values for costs assigned to the property. These amounts are shown in the costs section of the report, and are stored in the Properties table.

Note the following about property costs:

Costs that are always expenses at the property level, such as operating costs, taxes, and utilities are calculated as net income so that you can see the expense adjusted by any incidental income for that cost category. Since these cost categories are never going to primarily generate income, the report uses the title "Expense" for these net income amounts.
Costs that are assigned to a building or lease, but not assigned to a property, are not summed to the property, even though the building or lease may be assigned to the property.
If you assign a cost to both a lease and a property, the cost will show up in both the lease and property analysis.

Property reports include the following calculated costs:

Cost	Description	Calculation	Shown in these reports
Expense - Operating Total	This amount summarizes a property's operating costs as net income; the operating expenses are subtracted from any incidental income for the OPERATING EXP cost type.	Sum of (Income minus Expense) values for cost records whose Cost Category Cost Type is OPERATING EXP	Property Abstract Property and Building Benchmark Undeveloped Properties
Expense - Utility Total	This amount summarizes a property's utility costs as net income; the utility expenses are subtracted from any incidental income for the UTILITY cost type.	Sum of (Income minus Expense) values for cost records whose Cost Category Cost Type is UTILITY	Property Abstract Property and Building Benchmark Undeveloped Properties
Expense - Tax Total	This amount summarizes a property's tax costs as net income; the tax expenses are subtracted from any incidental income for the TAX cost type.	Sum of (Income minus Expense) values for cost records whose Cost Category Cost Type is TAX	Property Abstract Property and Building Benchmark Undeveloped Properties
Expense - Other Total	Use this field to review summarized expenses for cost types other than the major types of TAX, UTILITY, or OPERATING EXP. If these "other" costs also have income amounts, this income is summarized in the Income Total amount. Note: The Expense - Other Total field for properties is calculated differently than the Amount - Other Costs for leases.	Sum of ( Expense ) values for cost records whose Cost Category Cost Type is NOT IN (TAX, UTILITY, OPERATING EXP.)	Property Abstract Property and Building Abstract Undeveloped Properties
Income Total	Use this field to review income-producing costs for a property, for example, fees or rent you receive from a tenant. This amount summarizes income for a property for any cost types that are not TAX, UTILITY, or OPERATING EXP.	Sum of ( Income ) values for cost records whose Cost Category Cost Type is NOT IN (TAX, UTILITY, OPERATING EXP.)	Property Abstract Property and Building Benchmark
Net Income	Use this field to assess the overall expenses for a property adjusted by any income.	Sum of (Income Total - Expense Total)	Property Abstract
Expense Total	Expense Total summarizes net income for the major expenses for a property - TAX, UTILITY, and OPERATING EXP; the expenses for these cost category cost types are subtracted from any incidental income. It then adds expenses for any cost type other than TAX, UTILITY, or OPERATING. In this way, it summarizes the property's expenses. If these "other" costs also have income amounts, this income is summarized in the Income Total amount.	Sum of (Expense Oper. Total + Expense Utility Total + Expense Tax Total + Expense Other Total)	Property Abstract Property and Building Benchmark (On the Overview tab.)

Yearly Property Costs

Yearly property costs represent average annual costs. These costs are based on actual costs incurred between the Start Date and End Date entered for the report. For example, if the Start Date and End Date cover a 3 month period, the program multiples the cost amounts by 4 to get the yearly costs. See Understanding Financial Analysis Reports for information on how costs are selected.

The All Properties Yearly Financial Summary report uses the time period (Start Date and End Date) entered for the Property Abstract report when the Property Abstract report was most recently generated. The Property Financial Summary report includes a Filter console in which you enter the Start Date and End Date.

The All Properties Yearly Financial Summary Report summarizes a property's operating, tax, and utility costs as net income (income - expenses) by subtracting these expenses from any incidental income for the cost type. The data is normalized to reflect yearly costs.

The All Properties Financial Summary by Country Report provides the following yearly property costs. The Property Financial Summary report includes one field, Annual Costs, that is a yearly cost.