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Updating CAM Profile Information

When you create a CAM profile and save it for the first time, the application creates a new recurring cost record having the RENT - CAM ESTIMATE cost category; (or, if you have defined other cost categories for CAM, the CAM Estimate cost category you selected for the cost). When you update a CAM Profile. the application determines whether to update this existing recurring cost record or to create a new one, as described in this topic.

Procedure

To update CAM Profile information:

1. Select the Lease Cost Profile task, or select the Cost Profile button on the Recurring Costs tab of the Lease Portfolio Console.

   The Lease Cost Profile Details view appears with the Lease Indexing Profile tab active.

2. Select the Lease CAM Profile tab.
3. Update details for the CAM Profile. You can change:

   Field	Description
   CAM Estimate Category	This defaults to RENT - CAM ESTIMATE , but you can select a different CAM estimate category if you have defined additional categories
   CAM Allocation Method	Select Flat Rate Estimate, Rent Percentage, or Cost per Area as your CAM allocation method
   CAM Frequency	Select how often the CAM Allocation should occur.
   Reconcile costs each... Select Calendar or Fiscal	This setting determines the Date Start for the RENT - CAM ESTIMATE cost record. created for the CAM allocation. If you select Calendar Year, the cost record's Date Start will be the first day of the current calendar year; if you select Fiscal, the cost record's Date Start will be the first day of the fiscal year.
   CAM Cost Fixed Estimate	(if using the Flat Rate Estimate CAM Allocation Method)
   CAM Percentage	(if using the Rent Percentage CAM Allocation Method)
   CAM Cost per Area	(if using the  Cost per Area CAM Allocation Method)

4. Click Generate Recurring Costs for Profile.
5. On the Add Recurring Cost Transaction. If needed, enter information for the CAM cost, such as selecting a CAM cost category if you have defined additional categories.
6. Click Save.

   When you save the recurring cost record, the changes you made to the CAM Profile are also saved. The application either creates or updates cost record having the RENT - CAM ESTIMATE cost category you selected.

How the application determines whether to create a new cost record or update an existing one for CAM estimates

When you add a new Cam Profile or save updates to an existing one, the application either creates a new cost record for the RENT - CAM ESTIMATE cost category or updates the existing record as follows:

• Creates a new recurring cost record if:
  • No active recurring cost record for this cost category exists. This typically occurs when you add a CAM Profile for the first time.
  • An active recurring cost record exists, but you have changed the CAM frequency, or the value for the Reconcile Costs each Calendar or Fiscal Year selection. In this case, the application expires the existing record by setting the End Date to the current date - 1, and generates a new one using the current information.
  • If active scheduled costs have been generated for the recurring costs, the lease cost administrator can choose to manually disable the costs, or to update the scheduled costs to reflect the changes made. This is an optional step. A scheduled cost is active if its Due Date is greater than the current date.
• Updates an existing recurring cost record (without creating a new record) only if:
  • The Amount has changed. The Amount- Income or Amount-Expense will change if you change the CAM Cost Fixed Estimate, the CAM Cost - Percentage, or the CAM Cost - Area values.
  • If active scheduled costs exist for the updated recurring cost record, and these costs are due after the current date, the application automatically updates these scheduled costs with the changes made. Although not required, the cost administrator can approve these costs to create actual costs.

See Also

Define Cost Categories and Classes

Entering alternative names for the CAM Cost categories

Managing CAM: Overview