Oracle Property Manager provides the ability to manage major real estate tasks, including creation and administration of property, lease administration and office space allocation.
The following sections describe the flows in the Oracle Property Manager advanced pack.
Lease amendments are created to cover changes or additions to the terms of a lease. The amend lease feature is used to modify lease information when the approval status of the lease is Final.
The Property Manager Amend Lease Flow covers the different lease amendment scenarios and related normalization calculation verification for the amendment. The following amend scenarios are included in this flow:
Lease Amendment with Extend Term
Lease Amendment with Contract Term
Lease Amendment with Status Rollover to Month-to-Month
Lease Amendment with Renormalize as No and with Cut Off Date Entry
This section provides information on prerequisites, profile options, and data setups required to execute the Property Manager Amend Lease flow.
PN_Amend_Lease
None.
Not applicable.
The following predefined data must be used:
| Window Name | Field Name | Field Value |
|---|---|---|
| User | User Name | operations |
| Password | welcome | |
| Responsibilities | Responsibility Name | Property Manager, Vision Operations (USA) |
The following data must be set up:
| Window Name | Field Name | Field Value | Comments |
|---|---|---|---|
| Property | Tenure | Mixed | Lookup Type: PN_TENURE_TYPE |
| Billing | Tenure | Mixed | Lookup Type: PN_TENURE_TYPE |
| Lease | Type | Operating Lease | Lookup Type: PN_LEASE_TYPE |
| Lease | Term Template | PN-Pay Norm TX NO | Payment term template should contain account distribution for Expense, Liability, and Accrued liability. |
| Lease | Usage | Office Space | Lookup Type: PN_TENANCY_USAGE_TYPE |
| Lease | Purpose | Rent | Lookup Type: PN_PAYMENT_PURPOSE_TYPE |
| Lease | Type | Base Rent | Lookup Type: PN_PAYMENT_TERM_TYPE |
| Lease | Supplier | PN-Supplier1 | |
| Lease | Supplier Site | Main Site | |
| Term Details | GL Account | 01-110-7440-0000-000 | |
| Term Details | GL Account | 01-000-2210-0000-000 | |
| Term Details | GL Account | 01-000-2225-0000-000 |
The rent increase feature helps to calculate rent increases based on fixed percentages or a specified index. The Property Manager Rent Increase flow covers the creation of rent increase agreement with the following parameters:
Reference Period as Basis Year
Negative Rent as Ignore
Spread Frequency as Monthly
Basis Type as Fixed
Index Finder as Always Finder Date
Increase On as Base Rent
Relation Ship as Lessor of, Greater of and Index Only
The rent increase period is generated, and it calculates the rent increase term (billing term). This flow also covers the creation, approval, and verification of rent increase term.
This section provides information on prerequisites, profile options, and data setups required to execute the Property Manager Rent Increase flow.
PN-01_Rent_Increase_05
None.
The following profile options must be set:
| Profile Option Name | Profile Option Value |
|---|---|
| PN: End Date for Base Year Reference Rent Increase Terms | Assessment Period End |
| PN: Rent Increase Term End Date | End of Lease |
| PN: Rent Increase Calculated after Assessment Date | Single Term |
The following predefined data must be used:
| Window Name | Field Name | Field Value |
|---|---|---|
| User | User Name | operations |
| Password | welcome | |
| Responsibilities | Responsibility Name | Property Manager, Vision Operations (USA) |
The following data must be set up:
| Window Name | Field Name | Field Value | Comments |
|---|---|---|---|
| Lease | Office Location | PN-B1-1-107 | Location should be available within the lease dates. |
| Lease | Term Template | PN-Pay-Norm TX NO | Payment term template should contain account distribution for Expense, Liability and Accrued liability. |
| Lease | Supplier Name | PN-Supplier-1 | |
| Lease | Supplier Site | MAIN SITE | |
| Rent Increase | Index Type | PN Index 1 | Index History contains monthly index defined for the entire period of Rent Increase. |
| Lease | Purpose | Rent, Insurance, Operating Expense | Lookup Type: PN_PAYMENT_PURPOSE_TYPE |
| Lease | Type | Base Rent, Cleaning, Escalation | Lookup Type: PN_PAYMENT_TERM_TYPE |
Operating expense feature helps tenants pay their landlord a prorata share of the tenant common area maintenance for the property on lease. The Property Manager Tenant Common Area Maintenance flow covers the following:
Creation of Expense Lease
Creation of Operating Expense Agreement with Prorata basis, Expense Group, and Caps Setup
Calculation of Estimated Payment
Calculation and Verification of Payment Term and Catch-up Term
Creation and Verification of Reconciliation
Reconciliation Term Creation
Verification in Lease Payment for Estimated Payment Term, Catch-up Term and Reconciliation Term
This section provides information on prerequisites, profile options, and data setups required to execute the Property Manager Tenant Common Area Maintenance flow.
PN-01_TCAM_07
None.
Not applicable.
The following predefined data must be used:
| Window Name | Field Name | Field Value |
|---|---|---|
| User | User Name | operations |
| Password | welcome | |
| Responsibilities | Responsibility Name | Property Manager, Vision Operations (USA) |
The following data must be set up:
| Window Name | Field Name | Field Value | Comments |
|---|---|---|---|
| Lease | Term Template Name | PN-Pay-Norm TX NO | Payment Term template should contain account distribution for Expense, Liability and Accrued liability. |
| Lease | Office Location | PN-B1-1-109 | Location should be available within the lease dates. |
| Lease | Supplier name | Capp Consulting | |
| Lease | Purpose | Rent | |
| Lease | Type | Base Rent |
| Page Name | Field Name | Field Value | Comments |
|---|---|---|---|
| Operating Expense Agreement | Term Template Name | PN-Pay-Norm TX NO | Payment term template should contain account distribution for Expense, Liability and Accrued liability. |
| Operating Expense Agreement | Purpose | Rent | |
| Operating Expense Agreement | Type | Base Rent | |
| Operating Expense Agreement | Standard Group Name | Common Area Maintenance | |
| Operating Expense Agreement | Standard Group Name | Utilities | |
| Operating Expense Agreement | Standard Group Name | Tax | |
| Operating Expense Agreement | Standard Group Name | Security |
The variable rent feature enables you to calculate rent based on a variety of factors such as sales volumes, utility consumption, hours, and services provided.
The Property Manager Variable Rent flow covers the creation of variable rent agreement with the following calculation methods:
Cumulative
Non-Cumulative
True Up
Year to Date
This flow also covers the following partial year method combinations:
Combined Sales without Break Point Proration
First Year and Last Year
Combined Sales with Breakpoint Proration
Standard
The flow also handles Constraints, Allowances and Abatements (both fix and recurring). With the above combinations in variable rent agreement, variable rent is calculated and approved.
This section provides information on prerequisites, profile options, and data setups required to execute the Property Manager Variable Rent flow.
PN-01_Variable_Rent_04
None.
The following profile options must be set:
| Profile Option Name | Profile Option Value |
|---|---|
| PN: Volume status default | Approved |
| PN: Show Calculate and Calculate All Buttons for Variable Rent | Yes |
The following predefined data must be used:
| Window Name | Field Name | Field Value |
|---|---|---|
| User | User Name | operations |
| Password | welcome | |
| Responsibilities | Responsibility Name | Property Manager, Vision Operations (USA) |
The following data must be set up:
| Window Name | Field Name | Field Value | Comments |
|---|---|---|---|
| Lease, Variable Rent Agreement | Term Template Name | PN-Pay-Norm TX NO | Payment term template should contain account distribution for Expense, Liability and Accrued liability. |
| Lease, Variable Rent Agreement | Office Location | PN-B1-1-106 | Location should be available within lease dates. |
| Lease | Supplier name | PN-Supplier-1 | |
| Variable Rent Agreement | Break point Channel | Direct | |
| Variable Rent Agreement | Break Point Category | Clothing | |
| Lease, Variable Rent Agreement | Purpose | Rent, Insurance, Depreciation | Lookup Type: PN_PAYMENT_PURPOSE_TYPE |
| Lease, Variable Rent Agreement | Type | Base Rent, Cleaning, Insurance, Depreciation, Rent | Lookup Type: PN_PAYMENT_TERM_TYPE |
| Page Name | Field Name | Field Value |
|---|---|---|
| System Option | Variable Rent Auto Generation option | No |
The recovery feature helps landlords to calculate, recover, and reconcile expenses such as those of common area maintenance expenses from tenants. This feature is important to any landlord who has multiple tenants in a single property, and any tenant who shares a property with other tenants.
The Property Manager Recovery flow covers the recovery and verification of the following types of recoverable costs:
Common area maintenance costs
Insurance
This section provides information on prerequisites, profile options, and data setups required to execute the Property Manager Recovery flow.
PN-01_Recovery_06
None.
Not applicable.
The following predefined data must be used:
| Window Name | Field Name | Field Value |
|---|---|---|
| User | User Name | operations |
| Password | welcome | |
| Responsibilities | Responsibility Name | Property Manager, Vision Operations (USA) |
The following data must be set up:
| Window Name | Field Name | Field Value | Comments |
|---|---|---|---|
| Lease | Office Location | PN-B1-1-108 | Location should be available within lease dates. |
| Lease | Term Template | PN-Bill-Norm TX NO | Billing term template should contain account distribution for Revenue, Receivables and Accrued Revenue. |
| Lease | Customer Name | PN-Customer-1 | |
| Lease | Purpose | Rent, Insurance, Depreciation | Lookup Type: PN_PAYMENT_PURPOSE_TYPE |
| Lease | Type | Base Rent, Cleaning, Insurance, Depreciation, Rent | Lookup Type: PN_PAYMENT_TERM_TYPE |
| Lease | Recovery Type | Major | Lookup Type: PN_RECOVERY_TYPE |
| Lease | Recovery Space Standard | Exterior | Lookup Type: PN_RECOVERY_SPACE_STD_TYPE |