Contracts - columns and fields
Field / column | Description |
|---|---|
Code | Displays the property code. |
Lessee | Displays the name of the tenant (lessee) associated with the contract. |
Rent duration | Specifies whether the lease term is fixed or flexible. |
Start date | Displays the date when the lease agreement becomes effective. |
Notice period | Displays the period (for example 1 month) that the tenant must give before terminating the lease. |
Expiry date | Displays the official end date of the lease contract if not renewed or extended. |
Termination date | Displays the actual termination date, if applicable, indicating when the lease was ended. |
WALT (Weighted Average Lease Term) | Represents the average remaining lease term across all contracts, measured in years. A higher value indicates longer lease commitments. |
Estimated Rental Value (ERV) | Displays the estimated annual rental value of the unit/property based on market conditions. It's the total of all rentable units that are not vacant and that are active on the reference date or start date of the contract. You can select one of the following options: • per annum/quarter/month/week • m2 NFA p.a. / p.q./ p.m. / p.w. • m2 GFA p.a. / p.q./ p.m. / p.w. • m2 ITZA p.a. / p.q./ p.m. / p.w. • per unit p.a. / p.q./ p.m. / p.w. |
Passing rent | Displays the actual rent being paid by the tenant. You can select one of the following options: • per annum/quarter/month/week • m2 NFA p.a. / p.q./ p.m. / p.w. • m2 GFA p.a. / p.q./ p.m. / p.w. • m2 ITZA p.a. / p.q./ p.m. / p.w. • per unit p.a. / p.q./ p.m. / p.w. |
Over/under rent | Displays the percentage difference between Passing rent and Estimated Rental Value (ERV), indicating whether the lease is above or below market rates. |
Secured rental income | Displays the rental income amount that is contractually secured. |
NFA (Net Floor Area) | Displays the total usable area (in square meters or feet) leased under the contract. It's the total of all rentable units that are not vacant and that are active on the reference date or start date of the contract. |
VAT liable | Indicates whether the contract is subject to Value Added Tax (VAT), Yes or No. |
Renewal rent | The expected rent upon contract renewal. You can select one of the following options: • per annum/quarter/month/week • m2 NFA p.a. / p.q./ p.m. / p.w. • m2 GFA p.a. / p.q./ p.m. / p.w. • m2 ITZA p.a. / p.q./ p.m. / p.w. • per unit p.a. / p.q./ p.m. / p.w. |
Renewal rent type | Specify the renewal rent type. You can select one of the following options: • ERV (Estimated Rental Value) • Passing rent • Renewal rent • ERV upward-only • Review rent |
Tenant turnover rate | Set the probability (percentage) of a tenant leaving at the end of the lease. |
Relet term | Define the expected reletting period in months, indicating how long it will take to find a new tenant. |
Vacancy term | Set the expected period (in months) the unit will remain vacant after a tenant leaves. |
Rent Free And Cash Incentives | Define whether rent-free periods apply when a unit is relet or renewed. You can select one of the following options: • Only relet • Only renewal • Both renewal and relet |
Rent-free term | Set the duration (in months) for which a new tenant will not pay rent. |
Cash incentive | Enter any financial incentives offered to attract new tenants. |
 | Bulk input options are available for each column, allowing you to apply changes to multiple contracts at once instead of editing them individually. |