In Oracle Property Manager, a representative who is responsible for communication between the lease or property administrator and the contact organization.
In Oracle Property Manager, the upper (ceiling) or lower (floor) limit for either the actual amount a tenant must pay as rent or the increase in rent over a specific period
contact
A business that performs certain functions, called roles, for a property. Contacts can be associated with locations (land and building) and with leases.
contact role
The type of service provided by a contact for a particular location
The date, referenced from Oracle General Ledger, used to determine the correct accounting period for a transaction
grouping rule
A grouping rule specifies a set of attributes used to group multiple payment or billing items on a single invoice. You create billing grouping rules in Oracle Receivables and payment grouping rules in Oracle Property Manager.
Recovery expenses are employed by landlords to recover, from tenants, the costs of operating and maintaining leased premises. Thus, recovery expenses help landlords ensure that operating expenses, such as insurance, taxes, and common area maintenance (CAM), do not erode the total rent collected.
rent increase
A term created by applying an increase factor to another term. The increase may be based on an index, such as the Consumer Price Index, in which case it could be called index rent, or it could be a specified rate of increase.
A schedule represents the group of items that are payable to suppliers or recoverable from customers on a specific date for a particular lease. For example, if a lease contains two payment terms with a frequency as monthly, schedule day as 1, duration as three years, and amounts of $500 each, Oracle Property Manager creates 36 schedules for the first day of the month with two items each, for a total amount of $1000.
sublease
A subordinate lease agreement under the primary lease that occurs when a subtenant leases all or part of the primary tenant's leased space. Usually, the landlord's consent is required before a premises can be subleased.
T
term
In Oracle Property Manager, a term represents payment or billing related conditions specified in a particular lease. Terms incorporate information such as payment type and purpose, frequency, duration, currency, and tax information.
V
variable rent
Rent paid by tenants based on a variable amount. For retail tenants, variable rent is frequently based on sales volumes and would be called percentage rent or overage rent. It may also be based on a quantity such as utility usage. A lease agreement may specify that a tenant must pay a certain amount of variable rent along with a fixed base rent. Alternatively, a tenant's rent burden may consist entirely of variable rent.