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PLM Rate Schedules

Use this page to create custom charge rate schedules. For example, if price adjustment charges for a particular lease have been predetermined, use this feature to calculate the price adjustment.

Rate Schedule Example

If the escalation uses a rate schedule, the escalation amount that is applied to the charge is based both on the escalation frequency and the frequency of the rate schedule selected.

On the PLM Rate Schedules page, the following rate schedule is created: 

Escalation Rate Schedule Table
No: Rate1
Description: Rate schedule 1
Cost Driver: None
Effective Date Frequency Rate
6/1/2024 Monthly 80.00
6/1/2025 Monthly 81.88
6/1/2026 Monthly 83.51
6/1/2027 Monthly 85.18

These rate schedule lines will apply to a charge on a monthly basis, increasing every year on June 1 until June 1, 2027.

When you apply this rate schedule to a charge of $1000, then the billing lines will have the following values:

Rate Schedules Actions Table
Next Invoice Date Extended Amount
5/1/2024

$1000.00
6/1/2024 $1080.27
5/1/2025 $1080.27
6/1/2025 $1081.88
5/1/2026 $1081.88
6/1/2026 $1083.51
5/1/2027 $1083.51
6/1/2027 $1085.18

Create a Rate Schedule

To create a rate schedule, follow these steps: 

  1. From the Rate Schedules List , select New.
  2. In the page, specify a unique rate schedule No., and specify a Description.
  3. Select the Cost Driver.
  4. If Cost Driver is Area, specify the Area Unit or accept the default value.
  5. For each line you add, specify the Effective Date, the Frequency and the Rate.

Repeat these steps to add more rate schedules.

On the PLM Lease Charges page, the rate schedule can be applied to a price adjustment for a lease. Rate schedules that are attached to price adjustments cannot be deleted.

Rate Schedules List

Displays a list of all available rate schedules.

Rate Schedule Fields

This page contains the following fields: 

Rate Schedule Fields Table
Field Description
Rate Schedules
No.

Specify a unique identifier for the rate schedule.

Description

Specify the description for rate schedule.
Cost Driver

Select the cost driver option: 

  • None: The rate is used as is (for example, a flat rate).
  • Area: The rate is multiplied by the area assigned to the lease. The area unit is based on the property category. This value is set on the PLM Categories Setup page.
Rate Schedules Lines
Effective Date

Specify the date on which the rate is used for calculations.

Frequency

Select the frequency for each effective rate: The options are: Monthly, Weekly, Bi-weekly, Quarterly, Annually, and One Time.

Rate

Specify the rate to be applied to a lease as of the effective date. The Frequency selected affects the price adjustmentcalculations.

Rate Schedules Actions

This page contains the following actions: 

Rate Schedules Actions Table
Action Description
Update Charges Updates all charges that use the rate schedule when a change is made.