Entering and Maintaining Property & Unit Information
Property / Unit Help Page Summary
This tutorial page will instruct you on using the Property/Unit tab, the field values and options available. The Property / Unit page will be displayed for Real Estate leases only. For iLeasePro general navigation instructions, please visit the QuickStart General Navigation page.
Page Sections
The Property/Unit tab contains information and is separated into five sections;
- Property Info
- Property Detail Info
- Property Mechanical Detail
- Property Unit Detail
- Property and Unit Document Management
Section Help
Every page with Sections offers you additional help for that Section. This help information can be accessed by clicking on the question mark in the Section header bar.
To add annotations/notes to support the information entered, click on the notepad icon shown above. A new page will be displayed where you can add personalized notes that you would like to make to help you or others in your team identify key dates/reasons, etc for the lease information entered.
Choose Property: The Property Name is carried over from the Add New lease page. You would select from the Choose Property dropdown if you had more than one lease for and existing property. This will save you time by filling in the remaining property information.
Property Name: The Property Name defined when the lease was added. This should be a name that you and your team can use to easily recognize the lease.
Address: Enter in the mailing address of the property. Two address lines are available.
City: Enter in the city where the property is located.
State: Select the State or Province from the dropdown list where the property is located.
Zip: Enter in the Zip Code or Zip Code+4 for US States. Enter in the Postal Code for other countries.
Country: Enter in the country where the property is located.
Map It: Click on the Map It button to retrieve a map to the location of the property.
Property Type: Select the appropriate type of property from the property type dropdown list
Prerequisite: A list of property types have been setup for you out of the box, but you and your team may want to customize this list to be more inline with your organization. Your administrator can update this list through the Application Values setup on the Administration site.
Total Gross Square Ft.: Enter in the total gross square feet of the property specified in the lease.
Total Rentable Square Ft.: Enter in the total rentable square feet of the property specified in the lease. This field value is required if you are interested in using the Sum buttons to automatically calculate pro rata percent amounts.
Lot Size (acres): Enter in the lot size in acres of the property specified in the lease.
Zoning: Enter in the zoning code of the property specified in the lease.
Year Built: Select the year that the property was built from the drop down list. This field value is required if you are interested in using the Sum button to automatically calculate roof age.
Fair Market Value: Enter in the Fair Market Value (FMV) of the property specified in the lease. The FMV of a property can be determined through a professional appraisal process or comparative analysis.
Market: Enter in the real estate primary market of the property. The market will be the geographical location the property resides in for example, a Metropolitan Statistical Area (MSA).
Submarket: Enter in the real estate submarket of the property. A submarket typically represents the division of the primary market and outlines a specific geographic boundary that describes a core area that is competitive with other submarkets. A submarket represents similar property types (office, industrial, retail, etc.) and does not overlap other submarkets and is a contiguous geographic area.
Floors: Select from the dropdown list the number of floors in the property.
APN: Enter in the Assessor's Parcel Number, or APN. The APN is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes of identification and record-keeping.
Max Contiguous Square Ft: Enter in the total amount of available connected square feet in the property. This is important information if you have an expansion option in your lease.
Air Conditioning: Select Yes or No from the Dropdown list to record whether the asset has air conditioning or not.
Type of Heat: Select the type of heat from the Dropdown list to record how the asset is heated.
Sprinkler System: Select Yes or No from the Dropdown list to record whether the asset has sprinkler system in place or not.
Elevators: Select the number from the Dropdown list to record the total number of elevators that are available within the asset.
Age of Roof: Enter the age of the roof of the asset or if the roof is original, select the Sum button to automatically calculate based on the year the asset was built.
The Unit Info section stores the unit level detail information that are specified in the lease and the square feet of each unit. An unlimited number of Units can be added in this section.
Unit Number can be the actual suite or unit number of the space within the property
Unit Name can be a more detailed description of the unit for quicker reference. This value will be used throughout iLeasePro to reference this lease unit detail information
Rentable Sq Ft. The Rentable Square Feet value is required for each unit defined. The Rentable Square Feet is used in the Rent calculation and a key value for accurate calculations. If more than one unit is defined, the Rentable Sq Ft of each unit is summed together for the Rent Calculation
Pro Rata Percent is entered manually in the Unit table
Adding a New Unit
To add a new Unit associated with the lease click on the Add New button in the Unit Info Section.
Deleting or removing a Unit
To remove or delete Unit information, click on the trash can button on the Unit row you are interested in removing.
Property and Unit Document Management
For detailed explanation on uploading an electronic document into iLeasePro, please reference the Upload Document Help Page.