|
Fixed |
Class |
Description |
|
11 |
Enh |
We have added Expense Min as an
assumption field in both Expense Pages and Expense as a % of Effective Income Pages.
Additionally, Revenue Min has been added to Revenue Pages. At the same
time the former Revenue Cap and Expense Cap fields have been renamed
to Revenue Max and Expense Max for clarity. |
|
11 |
Enh |
Depreciation Pages now have an added field
Area Added, and Partial Sale Pages have an added field Area Sold.
Area Added is the area added (either Units or SqFt, depending on the value
entered in Square Feet / Unit Changeover (see Preferences) by this Capital Spending
Item. This area adds to the total area entered in the Assumption Set Specification
Dialog in and after the Month of the Depreciation Start Date, and therefore
affects the Square Footage (or Unit) Income Statement and the Annual Statements.
Area Sold subtracts from the same values, affecting the same reports on
and after the Date Sold. |
|
11 |
Enh |
We have added a new assumption to Expense
Pages:
EXPENSE VARIABLE allows
you to adjust the Annual Expense amount for vacancy by dividing it into fixed and
variable components. Normally zero, a non-zero percentage here is the percentage
of the expense that will vary with the average occupancy each year. Vacancy from
months vacant (between lease terms and during absorption) is used to determine the
average physical occupancy for the year. Vacancy entered through the Vacancy Factor
in Revenue Pages for lessees with SqFt or Units specified (through the calculator)
is included as well. For instance, for an Expense Page with an Annual Expense amount
of $100,000 and a 75% Expense Variable specified (no growth), the Expense would
be as shown in the table.
|
|
11 |
Bug |
In the Unit Sales Draw Loan Report, the year
in the Date Column was incorrect for January, showing Jan 02, for instance, instead
of Jan 03. Introduced in Version 10.04 and corrected in Version 11. |
|
11 |
Enh |
With the additional usefulness of Risk Analysis
due to the Development Enhancements in version 10 and the linked reimbursements
in version 11 we have eliminated the previous restriction that the Lowest and Highest
Risk Assumption Values must be at least 1 less or greater than the Likely value.
Now, the Likely value must be no closer to the Lowest and Highest values than 20%
of the range between them. For example, a specification for the Inflation Rate of
Lowest 0%, Likely 2%, and Highest 10% is OK, but 0%, 1.5% and 10% is not allowed,
since 1.5% is within 15% of the Lowest value. Likewise, a specification of Lowest
0%, Likely 4.5% and Highest 5% is not allowed, since the 4.5% is within 10% of the
Highest value. This allows you to vary a Revenue Period between 1 and 2 years (likely
1.3 years), for instance, or vary a Cap Rate on Sale from 6 to 7 -- options previously
not allowed. |
|
11 |
Enh |
For many years we have shown you how to plan
Reimbursable Expenses and Percentage Rents in the SHOPS and OFFICES Assumption Sets.
While serviceable, this methodology suffers from several limitations:
- •It requires too much data entry time
to enter a reimbursable, especially if against a stop, and negative reimbursables
(underwater) are a pain to handle.
- •Percentage Rents could not handle a
Natural Breakpoint, and underwater conditions again are a problem.
- •Changing Expense forecasts requires
changing the corresponding reimbursed expense revenues as well ... manually.
- •The validity of Sensitivity and Risk
Analysis is compromised when expenses are varied in properties with reimbursables,
since the corresponding reimbursable revenues do not automatically vary with the
expenses.
- •There was no way to "Gross Up" expenses
that vary with the property overall occupancy where leases call for such a Gross
Up.
ALL these limitations are eliminated by the
addition of the Edit/Reimbursables Dialog in version 11.
This capability, which greatly improves the
ability to handle multi-tenant leased properties with planEASe, is explained in
the Retail Tutorial and Office Tutorial that are shipped with version 11 (available
also at the planEASe website under the Learn button). Following these simple
tutorials is the best way to become familiar with this new capability. In addition
to the new Tutorials, the OFFICES and SHOPS Assumption Sets have been revised to
eliminate the old methods and substitute the Edit/Reimbursables capability
for computing the same expenses, leases and Percentage Rents.
|
|
11.01 |
Bug |
Exp % of EI Pages were inadvertently
omitted from Detail Analysis Expense Grids if Reimbursements had been entered thru
the Edit/Reimbursables Dialog. Introduced in Version 11 and fixed in 11.01. |
|
11.01 |
Bug |
If Reimbursements had been entered thru the
Edit/Reimbursables Dialog, and you chose a Sale Price Method of Capitalize
Next Year's NOI, and you were in Monthly Mode, you would get a trapped Error 9 (subscript
out of range) whenever you computed a projection (Basic, Sensitivity, Risk, etc.).
Introduced in Version 11 and fixed in 11.01. Thanks to Paul Basinger, CCIM for his
help at planEASe Boot Camp. |
|
11.01 |
Bug |
Reimbursed Expenses entered through the
Edit/Reimbursables Dialog were mis-computed in the case of partial first and
last years in annual mode. Monthly results were correct. Introduced in Version 11
and fixed in 11.01. Thanks to Paul Antonuccio for the first report. |
|
11.01 |
Bug |
If you entered an Expense as % of EI page
earlier than the last expense page and then entered Reimbursements thru the Edit/Reimbursables
Dialog, you would get a trapped Error 9 (subscript out of range) whenever you computed
a projection (Basic, Sensitivity, Risk, etc.). Introduced in Version 11 and fixed
in 11.01. Thanks to Burris McRee, CPM, CCIM for his report and documentation. |
|
11.01 |
Bug |
Loans longer than 4 pages could sometimes
cause a trapped Error 9 when entering the APOD. Introduced in Version 11 and fixed
in 11.01. Thanks to Arthur Nachman, CCIM for his report and documentation. |
|
11.01 |
Bug |
If Reimbursements had been entered thru the
Edit/Reimbursables Dialog, and one or more leases had a Vacancy Factor
that varied during a year, the Vacancy and Credit Loss and Management Fee
lines in the Income and Annual Statements could be slightly misstated, with corresponding
misstatements below. IRR's and NPV's were not affected. Introduced in Version 11
and fixed in 11.01. |
|
11.01 |
Bug |
If Reimbursements had been entered thru the
Edit/Reimbursables Dialog, and you chose a Sale Price Method of Capitalize
Current NOI, the Sale Price was slightly understated. Introduced in Version 11 and
fixed in 11.01. |
|
11.02 |
Bug |
If Reimbursements had been entered through
the Edit/Reimbursables Dialog, and you entered a lease starting after the
end of the Holding Period with reimbursements, you would get a trapped Error 9 (subscript
out of range) whenever you computed a projection (Basic, Sensitivity, Risk, etc.).
Introduced in Version 11 and fixed in 11.02. Thanks to Tom Corbett, CCIM for his
report and documentation. |
|
11.02 |
Bug |
If Reimbursements had been entered through
the Edit/Reimbursables Dialog, and your leases all started after
Acquisition and you had not entered a non-zero value in the Square Feet or Units
field in the Assumptions Set Specifications Dialog you could get a trapped
Error 11 (division by zero) whenever you computed a projection (Basic, Sensitivity,
Risk, etc.) Introduced in Version 11 and fixed in 11.02. Thanks to T. J. Fontenette,
CCIM for his report and documentation. |
|
11.02 |
Bug |
Using Unit Sales, in the unlikely event you
chose an (irrelevant) Sale Price Method of Capitalize Next Year NOI, you would get
a trapped Error 9 (subscript out of range) whenever you computed a projection (Basic,
Sensitivity, Risk, etc.). Introduced in Version 10 and fixed in 11.02. |
|
11.02 |
Bug |
If Reimbursements had been entered through
the Edit/Reimbursables Dialog, and you used reimbursable Expense SubPages
in your Assumption Set, you could get a trapped Error 9 (subscript out of range)
whenever you computed a projection (Basic, Sensitivity, Risk, etc.). Introduced
in Version 11 and fixed in 11.02. Thanks to Burris McRee CCIM, CPM for his report
and documentation. |
|
11.02 |
Bug |
In Lease Analysis, if the Edit/Reimbursements
Dialog had been used and reimbursements inserted, and you were in Lease Analysis
mode (not Summary), if you then pressed the Graph button, the Combine Reimbs
button would not disappear, and would obscure the graph. Introduced in Version 11
and fixed in 11.02. Thanks to Richard Warren for his report and excellent documentation. |
|
11.02 |
Bug |
In Risk Analysis, if you chose an assumption
value on one of the new Page Types introduced in Version 9 and added to in Versions
10 and 11, other than the first assumption on the page, the translation of the assumption
value shown in the Risk Assumption Grid after the Risk Analysis was completed might
sometimes be incorrectly translated. Introduced in Version 9 and fixed in 11.02.
Thanks to Mark Brown for his report and excellent documentation. |
|
11.02 |
Bug |
If you used the Base Year Method of Reimbursement
and the lease started after the first year, the Base Year amount was not set correctly.
Introduced in Version 11 and fixed in 11.02. Thanks to Melinda Vick, CCIM for her
report and excellent documentation. |
|
11.02 |
Bug |
In the APOD, if you specified multiple Negative
Revenues consecutively, there was a chance that the second such revenue could be
misstated. Introduced in Version 11 and fixed in 11.02. |
|
11.02 |
Bug |
If you used the $ Method of Reimbursement,
and you chose the Capitalize Current NOI Sale Price Method, and you entered a Reimbursement
Amount greater than 100 (so it represents a $/year amount rather than a $/sf/year
amount) the projected Sale Price was overstated by an unpredictable amount. Introduced
in Version 11 and fixed in 11.02. Thanks to Douglas Scott for his report and documentation. |
|
11.03 |
Bug |
In Income Statements, if you had more than
200 lines in the printed report, you could get an untrapped error 9. This is a long-standing
bug. |
|
11.03 |
Bug |
If you performed a Risk Analysis on a General
Assumption, you could get an untrapped error 9 at the conclusion of the analysis.
Introduced in Version 11.02 and fixed in 11.03. Thanks to Stan Gnaizdowski, CCIM
CRE for the report and documentation. |
|
11.03 |
Bug |
If you used the $ Method of Reimbursement
for any tenant, the corresponding reimbursement for that tenant in the APOD and
Rent Roll reports was subtracted from the base rent rather than added. Introduced
in Version 11 and fixed in 11.03. Thanks to Lily Chang for her report and documentation |
|
11.03 |
Bug |
If Reimbursements had been entered thru the
Edit/Reimbursables Dialog, and you chose a Sale Price Method of Capitalize
Current NOI, and you were in Monthly Mode, and you had a Partial first year, and
you chose either a $ Stop or $ method of reimbursement, the Sale Price could be
slightly understated. Introduced in Version 11 and fixed in 11.03. Thanks to Ron
Wallace for his report and documentation. |
|
11.04 |
Bug |
The Expense Min field in the Expense
% of EI Page did not work properly. Introduced in Version 11 and fixed in 11.04
Thanks to Bob Benner for his report and documentation. |
|
11.04 |
Bug |
In the Assumptions Report for the Partnership/LLC
Models, if you used Edit/Reimbursements to insert reimbursements, and you
chose not to refer revenues, and you had one or more Fee Pages, the reimbursements
would print out with the Fee Pages Title in front of the Reimbursements Title, and
the Fee Notes, if you had any, would print with the Reimbursements (as well as the
Fee Assumptions). Introduced in Version 11 and fixed in 11.04. Thanks to Gene Trowbridge
for his report and documentation. |
|
11.04 |
Bug |
The $ Stop Reimbursement Method did not properly
compute the stop in some instances. Introduced in Version 11.03 and fixed in 11.04.
Thanks to Bill Berndt for his report and documentation. |
|
11.04 |
Bug |
The $ Stop and Base Year Stop Reimbursement
Methods did not properly compute Sale Price in some instances when using the Cap
Current NOI Sale Price Method. Introduced in Version 11.03 and fixed in
11.04. |
|
11.04 |
Bug |
If you used an Expense % of EI Page
and you used Cap Current NOI Sale Price Method and you were in Monthly
Mode, the Sale Price was overstated slightly. Introduced in Version 9 and fixed
in 11.04. |
|
11.04 |
Bug |
If you entered Reimbursements using the Reimbursements
dialog, and later attempted to delete the last Expense Page, planEASe would hang
up. Introduced in Version 11 and fixed in 11.04. |