Understanding Building Constants Information

Use the AREF Building Constants program (P15L100) to set up building constant records if you apply the same set of rules to the majority of the units in a building. You can set up a building constant record for each building or for the property. If the business unit has an associated property, the system first uses the building constants record for the building and then for the property.

set up building constants by building (business unit) and revision number to establish the default rules when calculating budgets for units that are not assigned assumptions rules. If the unit has assumptions assigned to it, the system uses the assumptions and ignores the building constant. If the terms of an assumption expire before the end of the budget calculation period, you can specify whether the system uses the default assumptions before the recycle rule on the building constants.

In addition to the default assumptions, you can also set up parameters to calculate management fees, such as the rate, amount limits, and bill codes. The system uses the revenue bill code to retrieve the amount to which it applies the rate, and then updates the result to the account specified by the resulting bill code. If you have revenue fee information set up in JD Edwards EnterpriseOne Real Estate Management, you can use those rules, if desired. You can also use an account association code to report bad debt.

Use the P15L100 program to enter information about the building, such as the purchase price, discount percentage, and selling cost percentage. The system uses this information to calculate NPV (net present value) and IRR (internal rate of return) when you run the AREF Valuation Report (R15L111).

If you have multiple buildings for which you want to use building constants, you can copy an existing record. You can add, modify, and delete building constant records, as necessary. After you set up building constant records, you can update them globally by setting up and using a building constant model.

See Setting Up AREF Building Constants Using Models.

Note: You cannot set up a default building constant to use for all buildings and revisions.

The system stores building constants in the AREF Building Constants table (F15L100).