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Why did we build this?
Leases often come with additional financial obligations other than base rent. These may relate to CAM charges, operating expenses, real estate taxes, cleaning, utilities, etc and may come in the form of recurring or one-off invoices. To understand the all-in financial obligation of an individual or portfolio of leases, it's imperative to account for each itemized expense.
What does it do?
Adding additional rent items in Occupier allows you to track each itemized lease expense and report on them portfolio-wide.
How to use it
From your lease admin homepage, click on the name of the lease you want to add additional rent expenses to
Or search for the lease using the search bar
From the lease page, click on the 3 dots in the upper right hand corner, then click "edit lease"
Next, click on Step 4 Additional Rent
From here, click on "Add Additional Expense"
Next, choose the expense type from the dropdown list. If you need to add an expense type, here is an article that walks you through how to do that.
In the "Months" field, type in the number of months this charge occurs. Ex - if it is a monthly charge, type in "1". If its a quarterly charge, type "3". If its an annual charge, type "12" (1 is the most common)
Then, type in the start and end month. You can use the rent preview to determine the number of the month. If you want a charge to only show up for 1 month, you can use the same start month and end month.
Finally, type the amount and chose the amount unit and frequency. Please note if you choose "Per SF" as the Amount Unit, the amount will be multiplied by the total rentable square feet.
Once you are done, you can click the "Add Additional Expense" again to add another additional rent expense. You can repeat these steps as many times as necessary.
When you are done adding additional rent expenses, click "Submit"
To view your additional rent expenses, click on the financials tab of the lease page.
You will see your additional rent expenses on this rent schedule, you can also learn more about the different ways to view additional rent by reading this article.
