Entering Income Valuation and Lease Data
Use this procedure to enter general data for an income valuation.
If income and expense data will be applied to this income valuation from an income schedule, note that the data you enter in the following fields must match the data in the corresponding fields of the income schedule: Nbhd/Econ Area, Class, Property Type, Level, Year Built. For more information, see Creating Income Schedules.
- In order to perform this procedure, the following user rights are required:
- Property > Income > Edit Income Valuation
- Open a Property , then expand the Income Valuations and Characteristics panel.
- In the Income Valuation grid, either select an income valuation and click Details to access an existing income valuation, or click Add to create a new income valuation.
- In the General section of the Income Details dialog box, complete the following fields as needed:
Note None of the following fields are required. But, generally, entering values here facilitates schedule building because schedules can draw data from these fields..
- Select the following as required:
- In the Metrics section, use the following options as required:
- # of Units - To enter a value directly in the field, click Override.
- GBA - To enter a value directly in the field, click Override.
- Lease Up Cost - Click to derive a value for the costs needed to bring a property to 100% occupancy. Then, in the Lease Up Costs dialog box, complete the following fields:
- Excess Land - Click to derive a value for the amount of land that is in excess of the usual amount for this type of property. Then, in the Calculate Excess Land dialog box, complete the Typical Land Ratio and Land RSF fields. The next time the income valuation is recalculated, the land ratio is displayed in the Land Ratio field.
- Complete the fields in the Lease Information section as required, including:
- Use the following additional options as required:
- To recalculate the value of the property, click Recalculate.
- To generate the income valuation worksheet, click Print Worksheet.
- If a recalculation generated any error, click Errors... to open the Income Errors Dialog box displaying the error ID, method, and description.
- To apply your data to the record and leave the window open, click Apply.
- To apply your data to the record and close the window, click OK.