Use Based Rent - Contract Module
The Use Based Rent sub-module of the Contract module allows users to create variable rent records based upon their usage of a real estate resource. There are two models supported by Lucernex: Count Based and Share Based. The Count Based model calculates rent based upon the unit rate multiplied against the number of units used. The Share Based model calculates rent based upon a shared resource rent rate multiplied against the lessee share.
If you do not have need for use-based rent in your lease portfolio, we recommend that you disable access to this tab through security settings for cleanliness of your user experience.
If your contract has multiple breakpoints for use based rent, they will all appear in the Breakpoints table on the Use Based Rent page.
Do not enter 0 in fields unless the value is truly zero. If you are not going to use a field, leave the field blank.
To create a use based rent record, you must first have a matching Recurring Expense record with the necessary vendor allocation, expense allocation, and applicable taxes. You can create a recurring expense record on the Expense Setup page.
To navigate to the Use Based Rent page:
-
Navigate to Contract > Payment Info > Use Based Rent.
Use the links in the Navigation Pane on the leftmost side of the page.
-
Follow a procedure below.
Manage Usage Groups
You can use usage groups to categorize your use based rent records. If you have count-based records, usage groups can also be associated with a usage unit type, which specifies the units of usage—for example, tickets at a movie theatre or passengers on a plane.
You can also manage the values that appear in many Group fields from the Manage Firm fields page.
Add a Usage Group
To add a usage group:
-
Click
to the right of the Usage Group field. A window opens.
-
Click Add Usage Group Code.
The Add Usage Group Code window opens.
-
Enter the name of the usage group in the Name field.
-
Enter a description of the usage group in the Description field.
-
Select the usage unit type from the Usage Unit Type field.
This field can be used to create custom unit types for count-based usage groups.
Create a new group or category.
Groups are the first level of organization in Lucernex. Groups are the parents of types, and grandparents of categories. Groups, types, and categories are used to simplify reporting.
-
Click Add.
The window closes. The Usage Group you created appears as selected in the Usage Group field.
Edit a Usage Group
To edit a usage group:
-
Click
to the right of the Usage Group field. A window opens.
-
Click Edit in the Actions column of the record.
The Edit Usage Group Code window opens.
-
Make your changes.
-
Click Update.
The window closes. Your changes are saved.
Delete a Usage Group
To delete a usage group:
-
Click
to the right of the Usage Group field. A window opens.
-
Click Delete in the Actions column of the record.
A dialog opens, asking you to confirm your choice.
-
Click Yes.
The dialog box closes. The usage group is deleted.
Manage Use Based Rent Records
The following sections describe how to add, edit, or delete use based rent records.
Add Use Based Rent Record
To add a use based rent record:
-
Click Add Item.
This displays in the Actions menu on the right side of the page.
-
Select the usage group from the Usage Group field.
If you want to create a new usage group, follow the Add a Usage Group procedures above.
-
Enter a description of the record in the Description field.
-
Select the model type from the Model Type field.
Important!A Usage Group will be used with one and only one Model Type. If you have use-based rent that involves both model types, then create different usage groups for each model type.
There are two model types available:
-
Count Based: Rent is calculated as Unit Resource Rent Rate * Number of Units Used by the Lessee.
For example, if the per-instance rate of using a gate at an airport was $500 and the gate was used by an airline 25 times, the rent would be $12,500.
-
Share Based: Rent is calculated as Shared Resource Rent Rate * Lessee Share.
For example, if the monthly rate for leasing a baggage carousel at an airport was $50,000 and the lessee used the carousel 25% of the time, the rent would be $12,500.
-
-
Enter the Begin Date and the End Date for the use based rent record.
You can also click Calendar
to open the Date Picker and select the appropriate date. -
Select the start month of the rent year from the Rent Year Start Month field.
-
Select the payment frequency from the Payment Frequency field.
-
Select the reporting frequency from the Reporting Frequency field.
The Lucernex Use Based Rent module supports Monthly, Quarterly, and Annual payment and reporting frequencies.
-
Enter the payment due date in the Period Payment Due Day field.
-
Enter the reporting due date in the Period Report Due Day field.
-
Select the expense group from the Expense Group field.
Create a new group or category.
Groups are the first level of organization in Lucernex. Groups are the parents of types, and grandparents of categories. Groups, types, and categories are used to simplify reporting.
-
Select the expense type from the Expense Type field.
To add an expense type, follow the Add an Expense Type procedures.
-
Select the currency type from the Currency Type field.
-
Enter notes in the Notes field.
-
Select the covenant for this use based rent from the Covenant field.
You can view information about a covenant by selecting a covenant from the field and then clicking the View
. -
Enter the section of the covenant where use based rent is mentioned in the Section field.
-
If this use based rent is associated with an amendment, select the amendment from the Amendment field.
You can view information about an amendment by selecting an amendment from the field and then clicking the View
. -
Click Save Changes.
This displays in the Actions menu on the right side of the page.
The page refreshes. Your changes are saved.
Edit Use Based Rent Record
To edit a use based rent record:
-
Select the use based rent record you want to edit from the Contract Use-Based Rent List.
The record data populates on the page.
-
Make your changes.
-
Click Save Changes.
This displays in the Actions menu on the right side of the page.
The page refreshes. Your changes are saved.
Delete Use Based Rent Record
To delete a use based rent record:
-
Select the use based rent record you want to delete from the Contract Use-Based Rent List.
The record data populates on the page.
-
Click Delete Item.
This displays in the Actions menu on the right side of the page.
A dialog opens, asking you to confirm your choice.
-
Click Yes.
The dialog box closes. The use based rent record no longer appears on the page.
Manage Use Based Rent Breakpoints
The following sections describe how to add, edit, or delete use based rent breakpoint records.
Add a Breakpoint
Most use-based rent cases do not require multiple breakpoint tiers. In this case, you will need only one breakpoint record with zero threshold for each usage group.
To add breakpoints using the Import Data functionality, follow the Complete the Use Based Rent Breakpoint Import Spreadsheet procedures.
Before you can add a breakpoint, you must first create a use based rent record.
To add a breakpoint to your use based rent record:
-
Select the use based rent record you want to add a breakpoint to from the Contract Use-Based Rent List.
The record data populates on the page.
-
Click Add Use Based Rent Breakpoint in the Breakpoints table.
The Add Use Based Rent Breakpoint window opens.
-
Select the usage group from the Usage Group field.
If the usage group you select is share-based, the layout of the Add Use Based Rent Breakpoint window will change to only have one Cost field.
If the usage group you select is count-based, the layout will remain the same.
-
Enter the begin and end dates for the breakpoint in the Begin Date and End Date fields.
You can also click Calendar
to open the Date Picker and select the appropriate date. -
Enter a description of the breakpoint in the Description field.
-
If you selected a share-based usage group in step 3:
-
Enter your share threshold in the first Breakpoint Share field.
-
Enter the shared resource rent rate for this breakpoint in the first Cost field.
-
Repeat steps a - b to add additional breakpoints.
-
-
If you selected a count-based usage group in step 3:
-
Enter your count threshold in the first Breakpoint Count field.
-
Enter the unit resource rent rate for this breakpoint in the first Cost field.
-
Repeat steps a - b to add additional breakpoints.
-
-
Enter notes in the Notes field.
-
Click Add.
The window closes. The breakpoint appears in the Breakpoints table.
Edit a Breakpoint
-
Select the use based rent record whose breakpoint you want to edit from the Contract Use-Based Rent List.
The record data populates on the page.
-
Click Edit in the Actions column of the record.
The Edit Use Based Rent Breakpoint window opens.
-
Make your changes.
-
Click Update.
The window closes. Your changes are saved.
Delete a Breakpoint
To delete a breakpoint:
-
Select the use based rent record whose breakpoint you want to delete from the Contract Use-Based Rent List.
The record data populates on the page.
-
Click Delete in the Actions column of the record.
A dialog opens, asking you to confirm your choice.
-
Click Yes.
The window closes. The breakpoint is deleted.
Import Data
To import use based rent records in bulk:
-
Click Import Data.
This displays in the Actions menu on the right side of the page.
The Upload Spreadsheet window opens.
-
Click Download Spreadsheet.
Your computer prompts you to either save or open the spreadsheet file.
-
Save the spreadsheet in a folder where you will be able to find it in the future.
-
If necessary, clear the existing data from the spreadsheet.
If you have existing use based rent records on your contract, they will appear in the spreadsheet. Simply delete these rows from the spreadsheet if you do not want to edit them.
-
Follow the Complete the Use Based Rent Import Spreadsheet procedures.
Audit Log
These are generic procedures that are common across all or multiple areas of Lucernex. As such, these procedures do not call out specific navigation to the page.
To view the audit log:
-
Select the record whose audit log you want to view from the list at the top of the page.
-
Click Audit Log.
This displays in the Actions menu on the right side of the page.The Audit Log window opens, displaying a list of changes.
There are three click-able areas in the Audit Log:
If you click a link in the Entity column a window will open with all activity for the associated entity.
If you click a link in the Item ID column a window will open with all activity for a specific item, such as a straight line summary record for a contract. The Item ID is a unique identifier that persists indefinitely for that particular record.
Occasionally items in the Old Value or New Value columns will be hyperlinked because those fields are hyperlinked in the system. These hyperlinks have no associated functionality.
Save to Documents
You can save a page to your documents.
-
Click Save to Documents.
This displays in the Actions menu on the right side of the page.A window opens.
-
Select the folder where you want to save the document from the Folder for Generated Document field.
-
Enter a File Name.
-
Select Send email notifications? to send an email notification to anyone who is a member of the folder.
-
Click Save.
The window closes. The document is saved.
-
To view your document:
-
Navigate to the Documents page.
Use the links in the Navigation Pane on the leftmost side of the page.
The Documents page is a third-level tab under the Details sub-tab.
-
Navigate to the folder where you saved the document.
The document will appear in the folder.
-
Link
These are generic procedures that are common across all or multiple areas of Lucernex. As such, these procedures do not call out specific navigation to the page.
The Link provides direct links and XML data for exports into TRAIN.
-
To access the Links to this page window, click Link.
This displays in the Actions menu on the right side of the page.The Links to this page window opens.
Entity Links
-
Page URL for current [Entity]: Provides the link for the current page in the UI.
-
Page URL for [Entity] '[Name Here]': Provides a direct link to the page in the UI for the specific entity that you are currently viewing.
This URL is useful when you want to share a direct link to a page via email.
-
Top Menu Item URL for current [Entity]: Provides a direct link to this page for use in your top menu.
Export as XML Options
To export XML data for this page:
-
Enter any XML elements you want to include in the XML element includes field.
-
Enter any XML elements you want to exclude in the XML element excludes field.
-
Select or clear the following check boxes as necessary:
-
Want firm defined fields: Include your user-defined fields.
-
Want referenced records: Include referenced records, such as location data for a contract.
-
Include all records of this type: Include all records of a particular entity type, such as a contract, location, or portfolio.
-
Importing into a different firm / env: Select if you will be importing this data into a different firm or environment.
-
-
Click Export.
The export processes. An Export Status window opens.
-
Click Save XML File.
A Save dialog box opens.
-
Save the file somewhere you will be able to find it on your computer.
