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Rate Schedules

Modules > Property lease management > Setup > Rate schedule

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.

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.

For example, the following rate schedule is created:

Rate Escalation Table
Rate schedule: Rate1
Description: Rate schedule 1
Cost driver: None
Effective date Frequency Rate
March 01, 2020 Monthly 50.00

The escalation line for a charge is as follows is as follows: 

Rate Escalation Details Table
Escalation date Term start date Term end date Billing frequency Type Rate schedule
March 01, 2020 March 01, 2020 April 15, 2020 Weekly Lesser of Rate1

When the rate schedule is applied to the charge, the rate amount is applied on a weekly basis (i.e., four weeks in a month). As a result the escalation is calculated as follows: 

  • Monthly rate/Weekly frequency = 50/4 = 12.50.

    • A weekly escalation of 12.50 is applied to the lease.

Create a Rate Schedule

To create a rate schedule, follow these steps: 

  1. Select New.
  2. Specify a unique Rate schedule identifier and a Description, and select the Cost driver.
    If Cost driver is Area, specify the Area unit or accept the default value None.
  3. For each line you add, do the following: 
    1. Select Add.
    2. Specify the Effective date, the Frequency and the Rate.
  4. Select Save.

On the Billing Lines page, use the rate schedule for escalations that are applied to charges for a lease.

Edit a Rate Schedule

To edit a record, follow these steps: 

  1. From the list, select a rate schedule, and select Edit.
  2. Edit the header values as needed.
  3. In the Lines, edit the values as needed.
  4. To add a line, select where you want to add a line, select Add line, and specify the date and index or percent value.
  5. To remove a line, select the line you want to remove, and select Remove.
  6. Select Save.
  7. Select Update charges to update any escalations that use the rate schedule.

To remove a record, select the line that you want to delete, and select Delete.

Note icon. Note: Rate schedules that are attached to escalations cannot be deleted.

Fields

This page contains the following fields: 

Field Description
Rate schedule

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.
Area unit

Displays the unit of measure used for area. The default value is from the Property Lease Management Parameters page. You can change it as needed.

Appears when Cost driver is Area.

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, 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 adjustment (or escalation) calculations.

Buttons

This page contains the following buttons: 

Schedule Update Buttons Table
Button Description
Save Save Saves the record and any changes to the page.
New Adds a line where you can create a record.
Delete Deletes a record.
Update charges Recalculates and updates the charge details for all charges that use the selected schedule.