Responding to suggestions from our clients, Property Works has added a Consumer Price Index (“CPI”) calculator module to REport ms.  Ever missed a CPI cap and found yourself overpaying? Our new module automatically pulls any CPI caps or floors from the lease data already recorded in REport ms, runs all calculations simultaneously and within a few seconds selects the appropriate CPI increase based on the calculations and lease terms.  The CPI calculator will significantly decrease time dedicated to CPI calculations while increasing accuracy.

As always with our system improvements, this module is immediately accessible to all clients at no increased cost.  For current clients: to use the CPI calculator, select the unit for which you need to calculate CPI, expand “Financials” and select “CPI”. Click on “Add New” to create a new record that will reflect the rent after CPI escalation.  Enter the relevant data into the CPI fields, including current base rent, index amounts, and any minimum or maximum caps.  When you click “Calculate,” the CPI calculator will run the numbers, select the correct rent amount based on the calculation and any applicable caps, and provide you with the CPI-adjusted rent amount.  This record can be saved as a basis for future CPI adjustments.

Property Works is developing more automated features for this module, such as establishing a live link to both the lease data and the Bureau of Labor Statistics tables and automatically adding the escalated rent amount to the Payment Schedule.  If you have ideas for features you would like to see included in the CPI module or to schedule a brief training session,  please contact your Account Manager or Sarah Grathwohl at 678-795-3832 (sgrathwohl@propertyworks.com).

Visit www.propertyworks.com to see how we can help.

Categories: General