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Lease Adjustment Templates

Background

The following Office Connector templates were developed in response to customer-communicated needs relative to the impact of the COVID-19 outbreak. In response to economic hardships of tenants, some property management customers have elected to either eliminate late charges temporarily, or decrease rent amounts temporarily. Performing these changes within the Property Management application for a large number of tenant leases can be time consuming. The goal of these Office Connector templates is to provide a means to batch-update lease amounts and late charge controls so that these changes can be made more quickly and easily, and without chance of manual error.

Write PM Late Charges Adjustment Tool

This template provides a means to temporarily eliminate late charges by changing the value of the "Suppress Late Charges Under" field of the Late Charge Controls for each Lease. All leases under a specified property can be updated at once. The value used for the new "Suppress Late Chargers Under" can be the default value (which is set to the maximum value by default) or can be specified per lease in the worksheet. In addition, the Excel file can be saved and used at a future date to restore the original values.

Write PM Lease Adjustment Tool

This template provides a means to enact a temporary rent change, either by percentage or by dollar amount, for all of the current leases under a specified property. This is done by creating a new entry in the Lease Recurring Charge Log table for the temporary rent amount where the Effective Date is the beginning of the time period. A second record is created to restore the rent amount to what it should be at the end of the time period (based either on the Effective Date at the beginning of the period or a scheduled increase that may have been set for the middle of the time period). Scheduled increases that fall within the time period are changed to reflect the temporary rent amount.

Example -

LeaseRevisionCharge TypeUnitEffective DateAmount
GAT-COL0010IRENT2001/1/20205,400.00<- Current lease amount (before reduction)
GAT-COL0010IRENT2004/1/20203,400.00<- Record added by this template for temporary amount
GAT-COL0010IRENT2006/1/20205,400.00<- Record added by this template to restore original amount

Example with Scheduled Increase -

LeaseRevisionCharge TypeUnitEffective DateAmount
GAT-COL0010IRENT2001/1/20205,400.00<- Current lease amount (before reduction)
GAT-COL0010IRENT2004/1/20203,400.00<- Record added by this template for temporary amount
GAT-COL0010IRENT2005/1/20203,400.00<- Scheduled increase, originally $5,800, but changed to $3,400
GAT-COL0010IRENT2006/1/20205,800.00<- Record added by this template to restore intended amount.

Write PM Lease Adjustment Tool via Credit Charge Type

Like the prior template, this template also provides a means to enact a temporary rent change for all of the current leases under a specified property. In this case, the temporary change is performed by adding a credit charge with an Effective Date at the beginning of the time period. Note that the Charge Type used for the credit is not automatically added to the lease by this template. The credit charge type must already be setup for the lease.

Example -

LeaseRevisionCharge TypeUnitEffective DateAmount
GAT-COL0010IRENT2001/1/20205,400.00<- Current lease amount (before reduction)
GAT-COL0010REDUCE2004/1/2020-2,000.00<- Record added by this template for reduction
GAT-COL0010REDUCE2006/1/20200.00<- Record added by this template to stop reduction

Required Software

The following software is required in order to utilize these templates -

  • Sage 300 Construction and Real Estate - Property Management
  • Microsoft Excel 2010 or higher (32-bit)
  • Sage Office Connector - Query (designer or standard)
  • Sage Office Connector - Write (designer or standard)

Obtaining These Templates

These templates are now included in the set of templates provided as part of Office Connector for users with current Sage Business Care. Click the button below to proceed to the page where the current template set can be downloaded.

Download Templates