Please note: This feature is only available upon request. Please contact our sales team if you would like to use these features in your account.

With the newest release of Assetti, the rent adjustment function now has additional updates for managing base rents.

Changes from the previous version:

Previously, Assetti's rent adjustments were based on the first period. (base rent) With the new update, you can now select your desired period as the base period. The adjustment approval window now displays more details regarding your base rents and their adjusted amounts. You can also copy rents (which are not the base rents) to the new rental period.

Before you get started with rent adjustments, set the adjustment information for leases. Assetti will then notify you when your approval is needed for upcoming adjustments.

To set rent adjustment of a lease:

Open the lease factsheet of the lease you wish to adjust.
In the 'Contract' tab, click the pencil icon for 'Lease terms' to edit.
Edit the following data fields:

Data fields	Description	Value
Index type*	The type of indexation based on which rent is adjusted	Select options: Cost of living Real estate maintenance cost Other No indexation More specific index type can be added through settings.
Adjustment term*	A specific term used to adjust the rent of your lease	Select options: % increase Indexation Indexation + % increase Indexation with maximum increase % Indexation with minimum increase % More specific index type can be added through the settings.
Base index date*	The month's index that will be used as base for your rent increase	Select the month and year
Base index*	The index value used as a base to measure the increase in your selected index type. Your initial base rent will be adjusted according to this index increase.	Input the desired number
First adjustment date*	The first month that your rent is adjusted	Select a month and year
Adjustment interval*	The number of months until you need to approve the adjustment again.	Input number with the month as the unit. Examples: For one month, input: 1 For one year, input : 12
Decrease rent if index lower	You can choose to lower your rent if your selected index is lowered	Check the box
Indexation description	Additional description of your selected indexation	Input the desired text
Additional increase percentage	The increase percentage of your rent if you have % increase or Indexation + % as adjustment term	Input number with % as unit. Example: 1%, input : 1
Minimum increase %	Restrict your rent increase percentage by setting a minimum limit, this is available if your adjustment term is Indexation with minimum increase %	Input number with % as unit. Example: 1%, input : 1
Maximum increase %	Restrict your rent increase percentage by setting a maximum limit, this is available if your adjustment term is Indexation with maximum increase %	Input number with % as unit. Example: 1%, input : 1

(*) Mandatory data fields for rent adjustment based on indexation

Defining base rents and approving upcoming adjustment

Within our rent adjustments, you can specify which rents (in which period and which rent types) are to be adjusted by checking the ‘edit rents view’ box under ‘rent period.

Go to period under the leases tab
Select which period you wish to have as a base period and click the pencil icon to edit, then edit rents. Check tips below to see how different adjustment terms affect selecting base rent period
Check the base rent checkbox next to ‘rent’ and click save. Now this period is the base period and base rent.

For a visual idea of how this feature works, check out the video below.

Under the ‘approve rent adjustment’ view, we show the calculated new rent, indexation details, and the base rent. Furthermore, you can choose to ‘copy other rents from the base rental period.’ This will copy all other rent types to the new period, along with the adjusted rent.

As an optional feature, you can receive notification in lease main view for approval of indexation adjustment, this notification is only prompted for upcoming month's adjustments. The default notification time is 1 month in advance.

On Lease main view, check notification "... rent adjustment(s) needs approval. Show leases"
Click on the Show leases link in the notification
In Approve rent adjustment view, open a lease you wish to adjust by clicking on its row
Check changes and approve adjustment.
You can also approve the adjustment and send out the corresponding invoice at the same time.

While using this rent adjustment feature, remember:

When the adjustment term is either ‘indexation with minimum increase’, or ‘indexation with maximum increase:’

If there are more than one unapproved adjustment per lease, they need to be approved one by one starting from the oldest.
You can easily find out the current index value by inserting the date to the last change date -field.
When ‘indexation with maximum increase’ is selected, all the rent types in the first rental period are selected as base rents by default.

When the adjustment term is ‘indexation with minimum increase’:

The latest rental period must be selected as a base rent period.
As a default, all the rent types in the latest rental period are selected as the base rent.

When the adjustment term is ‘indexation’, ‘indexation +%’, or ‘indexation’:

Any rent period can be selected as a base rent period. Remember to check that you have entered the current index in the selected period.
As a default, all the rent types in the first rental period are selected as the base rent.

Please note: You must approve your rent adjustments for them to become effective. If a scheduled adjustment is not approved, it will not be added to your lease agreement.

How can we help you today?

Using Rent Adjustments in Assetti

To set rent adjustment of a lease:

While using this rent adjustment feature, remember:

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