Defaults

Defaults

Default settings and values for risks and assumptions ensure that calculations can begin smoothly, even when some required data is not yet available.

Under Application settings > Defaults, you can make various settings regarding:

Company

At this level, you can make various settings to be used as company defaults.

Field	Description
Start month financial year	Select a month as start for the financial year.
Reporting language	Choose a reporting language from the drop-down list.
Index method
Index method renewal rent Index method Land value Index method vacant possession value Index method rebuild value Index method Tax value Index method review rent Index method rent cap Index method estimated rental value Index method revaluation	Choose the required index method from the drop-down list. The list references the index method name specified as Index method.

Process

At this level, you can select default values per process type.

The list only contains processes for which you are licensed.

Field	Description
Forecast level	Select a forecast level from the drop-down list (reference to the picklist Forecast level).
Basis of value	Select a value from the drop-down list (reference to the picklist Basis of value).
Strategy	Select a strategy from the drop-down list: • System strategy • Custom strategy The budgeting process does not require a strategy, hence it is empty.
Financial statement	Select a financial statement from the drop-down list (reference to cash flow statement). The budgeting process does not require a strategy, hence it is empty.
Period type	Select a period type from the drop-down list • Calendar year • Forecast year
Forecast period	Select the length of the forecast period in months.
Reference date	Select a date from the drop-down list: • Forecast date • Valuation date

Property

At this level you can specify defaults per property type and country.

Field	Description
Valuation method	Select a valuation method: • Discounted cash flow • Hardcore top slice method
Notary costs	Specify the notary costs (as a percentage from the gross capital value).
Agent costs	Specify the agent costs (as a percentage from the gross capital value).
RETT scheme	Select a RETT scheme from the drop-down list.
VAT scheme	Select a VAT scheme from the drop-down list.
Capital value rounding method	Select a rounding method from the drop-down list.
Entry value method	Select an entry value method: • Book value net • Market value net • Total investment
Terminal value method	Select a terminal value method: • Closing balance • Exit yield gross ERV • Exit yield gross PGI • Manual net terminal value • Percentage of VPV
Allocation key	Select an allocation key value.

Contract

At this level you can specify contract values per property type and country.

Field	Description
VAT liable	Indicate whether VAT is liable by switching the toggle on/off.
Turnover rate	Specify a rate.
Apply rent free & cash incentive for	Select when to apply rent free and cash incentive: • Only relet • Only renewal • Both renewal and relet
Relet term	Specify the relet term in months.
Rent-free term	Specify the rent-free term in months.
Vacancy term	Specify the vacancy term in months.
Rent duration	Specify the rent duration: • Fixed term • Indefinite period
Renewal rent type	Specify the renewal rent type.
Notice period	Specify the notice period in months.

Contract line

At this level you can specify contract line values per property type and country.

Field	Description
Contract line type	Specify a contract line type. Currently, only Passing rent is supported.
Cash flow method	Specify a payment method: • In advance • In arrears
Cash flow period	Specify the payment frequency.
Index methodology	Specify the index method.
VAT scheme	Select a VAT scheme.
Review rent type	Specify the review rent type.
Review term	Specify the review term in months.
General ledger	Select a default general ledger line.