How can I add a temporary rent reduction or concession to leases in Property Management?

Follow the steps below to create a temporary rent reduction or concession to all leases on a property in PM.

Option 1: Reduce the recurring charge amount on the existing recurring charge

You may use one of the following methods:

Note: Do not use this option if you need the amount of the reduction to go to a different GL account than the Revenue account assigned to the recurring charge type. Use Option 2 or Option 3 instead.

Method A: Change the recurring charge(s) on the leases in Change Lease

Note: If you have many leases, you may want to consider using the other method.

1. In Property Management from the Tasks menu, select Manage Leases, Change Lease.
2. Select one of the leases to be changed.
3. Select the Recur Chgs tab.
4. On the recurring charge to be changed, under the Charge Amount(s) column, click where it displays the amount per frequency to open the Charge Amounts window.
5. Scroll to the bottom if necessary to access the row to make a new entry (row with the asterisk*).
6. Enter the new Effective Date, Amount, Frequency, and Source (you may want to select Adjusted Amount in this case) for the reduced amount.
7. If you know when this temporary adjustment will end, enter another row with the Effective Date, Amount, Frequency, and Source for the amount it will become as of the effective date.
8. Click Close.
9. Repeat steps 4 through 8 for any additional charge types to be adjusted on this lease.
10. Repeat steps 2 through 9 for any additional leases to be adjusted.
11. Click Close when finished.

Method B: Use Office Connector or ODBC and Microsoft Access

WARNING: Before making changes to your data, it is strongly advised that you make a backup.

The PM Lease Recurring Chg Log table (PML record #15) is ODBC creatable. You can use tools, such as Microsoft Access, to link to the table and add new records for the new Effective Dates and Amounts on the appropriate recurring charges. Work with your Sage 300 CRE Consultant for assistance.

For information about the Office Connector tools, refer to How do I use the Write PM Lease Charge Type Adjustment Tool in Office Connector? or How do I use the Write PM Lease Adjustment Tool via Credit Charge Type in Office Connector?

Option 2: Add a negative recurring charge

Refer to How do I set up a rent abatement, concession, or free rent in Property Management?

Option 3: Use Import Charges to import credits, concessions, negative charges

Create an import file to import negative charges for the amount of the credit/concession/reduction. For more information on the import file format and how to import charges, refer to How do I import charges in Property Management?

• If the credit amount should use the same GL account as the charge type it is crediting, you can use the same Charge Type that you are crediting in the import file.
• If the credit amount should use a different GL account than the charge type it is crediting, then use the Charge Type in your import file that is specifically set up with the appropriate Revenue account. If you need to set up a charge type to use for the credit, refer to How do I set up a new charge type in Property Management?