|
Fixed |
Class |
Description |
|
12.00 |
Enh |
In answer to several requests, we have expanded
the Investor's Page to add three Present Value Discount Rates (Before
Debt, Before Tax and After Tax) in place of the one offered previously. This allows
you to see NPV's discounted at the various rates simultaneously. As you load all
earlier Assumption Sets, the three Present Value Discount Rates will default to
the old Present Value Discount Rate, so previous analyses will not be affected,
other than to allow you the opportunity to use the new capability.
We have also added an Investor Rate
Defaults Dialog , allowing
you to customize the Default Values used in NEW Assumption Sets for your preferences
for the various Discount Rates.
|
|
12.00 |
Enh |
A new Tax Calculator is
now available from the new "t" button alongside the top assumption on the
Investor's Page ( or the Limited Partner's or Members' Page in the Partnership Models)
allowing you to easily combine State and Federal Tax Rates, post them to your Assumption
Set, and/or make them the defaults for all new Assumption Sets. Additionally, the
default tax rates for NEW Assumption Sets have been changed to agree with the 2003
Bush Tax Cut rates. |
|
12.00 |
Enh |
In response to many requests, and to facilitate
Sensitivity and Risk Analysis on the overall Vacancy Rate, we have added a GENERAL
CREDIT LOSS & VACANCY to the Investor's Page of assumptions so
that you may specify a percentage which will lower all revenues in an analysis.
This lowering will be in addition to any revenue losses due to
vacancies specified through the use of the Vacancy Factor on Revenue Pages. This
allowance adds to the calculation of physical vacancy for determining reimbursements.
In all cases, the total of this General Credit Loss & Vacancy and the Vacancy
Factor on Revenue Pages is limited to be no greater than 100%. That is, entering
a 50% here and a 60% Vacancy Factor for a particular Revenue will result in zero
revenue for that particular Revenue. This new assumption only affects revenues from
pages with a Vacancy Factor assumption of their own. In other words, revenues from
Rev-us (Unit Sales) pages are NOT affected (use the Price Multiplier
on the Rev-usp Page for this). |
|
12.00 |
Bug |
The Accrue by Period (@%/Period) Growth Method
did not properly compute the Sale Price when using the Cap Current NOI
Sale Price Method . |
|
12.00 |
Bug |
If your Construction Draw or Unit Sale Draw
Loan contained Points, they were improperly stated in the Assumptions Report. |
|
12.00 |
Enh |
Three new buttons now appear at the bottom
of Reimbursement Dialog Expenses View to facilitate mass changes to reimbursement
patterns:
- •Reset Tenant sets all
expense reimbursement methods for the displayed Tenant to the method chosen for
the highlighted expense, regardless of the previous settings.
- •Reset Expense sets
all expense reimbursement methods for the highlighted expense to the method chosen
for the highlighted expense for all Tenants, regardless of the previous settings.
- •Reset All sets all
expense reimbursement methods for all tenants and all expenses to the method chosen
for the highlighted expense, regardless of the previous settings
For example, you may easily set all tenants
to Net reimbursements by setting one expense to the Net method
and then pressing Reset All. You may the current Tenant to None
by setting one expense for the Tenant to None, and then pressing Reset
Tenant.. As a special case, if you have highlighted the last column, GU%,
the Reset buttons will change the Gross Up Percentage for the current Tenant, Expense,
or All tenants and expenses, respectively, rather than changing the Method.
|
|
12.00 |
Enh |
The Reimbursement Dialog now darkens the
Amount cell if a Reimbursement Method that doesn't require an amount (None,
Net, or BY Stop) is chosen. The Amount Cell becomes available
when $ or $ Stop is chosen. |
|
12.00 |
Enh |
You may now use "Vacant" for a Page
Title !!! The addition of the new GENERAL CREDIT LOSS & VACANCY
assumption eliminates any need for the prior use of "VACAN" in the Page Title to
signify use of a Revenue Page for adding to the Vacancies in an analysis. Instead,
you may simply use Variable Vacancy Rates for all analysis functions other than
Sensitivity and Risk Analysis, and the new GENERAL CREDIT LOSS & VACANCY
assumption for Sensitivity and Risk. In the (rare) case that you have used the prior
capability in a previous Assumption Set, you will be warned that it will not compute
correctly and asked to call us for instructions as to how to achieve the same purpose
using Variable Vacancy Rates. |
|
12.00 |
Enh |
You may now use Edit/Add Continuation
Page for Permanent Loans in Development Spending Assumption Sets just as you
can with Normal Loans, so Permanent Loans may now have Variable Interest/Payment
terms. |
|
12.00 |
Enh |
We have added Market Profiles
to allow you to specify, in general, how leased space will be allocated when the
current lease you have entered expires. This decreases the amount of time you spend
entering leasing assumptions because, instead of typing the same values for every
tenant, you can enter the projected market values once and reference them (through
the new To Market Revenue Pages) for all tenants who share similar
characteristics.
|
|
12.00 |
Enh |
New Documentation Errata
Your Version 12 Update includes a new Manual
as well as new tutorials illustrating the use of Market Profiles. The new Manual
was submitted to the printers in advance of version publication, and the following
errata reflect changes made after the Manual text was submitted. The help file shipped
with the updated software reflects these changes.
In the Market Profiles Dialog:
- When using Market Profiles for a property
analysis, we suggest you should NOT use the default Capitalize Current NOI
Sale Price Method. Since this Method capitalizes the NOI in existence at the Sale
Date, it may well occur at a time when the Profiles have scheduled vacancies, and
therefore understated average NOI. The preferable approach is to use either Capitalize
Last Year's NOI or Capitalize Next Year's NOI for the Sale Price
Method.
- The combined number of months for
Abatements and Months Vacant is rounded to the nearest month (eg:
4.6 months is rounded to 5 months).
The new Profiles menu option at
Edit/Transfer Pages ... allows you to transfer the Local Market Profiles
(and all Variants depending on them) from one Assumption Set to another. It will
only be available to you if:
- The Source Assumption Set contains one
or more Local Profiles, AND
- The Target Assumption Set does NOT contain
any Market Profiles.
If these conditions are met, and you choose
the Profiles menu option, you will first be asked to verify that you want
the transfer of Market Profiles. If you choose Yes, the Profiles from the
Source Assumption Set will be inserted in your Target Assumption Set, the Transfer
Pages Dialog will terminate, and the Global Market Profiles (if any) will also be
recovered from disk and inserted in your Assumption Set.
We recommend that, the first time you access
Edit/Market Profiles ... you press 1
and print the Market Profile Dialog
help page for your reference.
|
|
12.01 |
Bug |
If you entered less than the SqFt/Unit crossover
amount (defaulted to 2000 in the File/Preferences Dialog) for the Property Size
in the Assumption Set Specifications Dialog (so planEASe thinks this is a Units
Assumption Set) and then later entered a SqFt Lease Revenue Page and accessed the
Reimbursements Dialog, you would get an untrapped error and planEASe would terminate.
Now the Edit/Reimbursements choice is not available in this case. Introduced
in Version 11 and fixed in 12.01. |
|
12.01 |
Bug |
Sensitivity and Risk Analysis using Cash
on Cash or Debt Coverage Ratio as the Sensitivity or Risk Measure could be wrong
if there was Capital Spending in the first analysis year. Thanks to our user Bill
Harwell, CCIM for the well documented example. Introduced about version 7 and fixed
in 12.01. |
|
12.01 |
Bug |
Previous versions allowed a user to use
Edit/Transfer Pages to drag and drop multiple Permanent Loans, Draw Loans,
etc, causing errors. Now the transfer of Construction Draw, Permanent and Unit Sales
Draw Loans, as well as Substitute Basis and Unit Sales Parameter Pages is no longer
permitted. Introduced in versions 9-11 and fixed in 12.01. |
|
12.01 |
Bug |
In the Installment Sale Analysis model, the
Sale Report showed wrong Tax Rates. The Basic Analysis Report was correct. Introduced
in version 12 and fixed in 12.01. Thanks to Richard Marquis, CCIM for the well documented
report. |
|
12.01 |
Bug |
If you changed one or more Global Profiles
and/or Variant Profiles linked to Global Profiles, you were given the option of
saving the changes only if you saved the Assumption Set changes first. Now you are
asked whether to save the changes whether or not you save the Assumption Set changes.
Introduced in version 12 and fixed in 12.01. |
|
12.01 |
Bug |
Loans based on the Debt Coverage Ratio for
the Loan Amount, or Participating Loans behaved properly in Basic, Sensitivity,
and Risk Analysis, as well as the Sale Report. However, they mis-computed (actually,
they were absent) in the ProForma and Annual Reports, as well as the Audit Window
and Detail Analysis Introduced in version 12 and fixed in 12.01. |
|
12.01 |
Bug |
If you loaded an Assumption Set using the
Development Spending Dialog, using a Construction Draw Loan, and then you changed
the Acquisition Date to a date after the first date of a draw against the loan,
the system generated a trapped error 9 when you caused a computation to occur. Introduced
in version 10 and fixed in 12.01. |
|
12.01 |
Bug |
In Edit/Market Profiles..., if you
chose the $/Sf/Yr Growth Method for a Market Profile, the leases taken To Market
with this profile would contain costs for TI's, and Start and End Charges, even
if the rates for these items were set to zero. Introduced in version 12 and fixed
in 12.01. |
|
12.02 |
Bug |
If you entered a value in either the Area
Sold field in a Partial Sale Page or Area Added in a Depreciation Page, it would
be translated to SqFt if > 2,000 and Units otherwise. Now it is translated to
Units if it is a Unit Property and SqFt otherwise. Introduced in Version 9 and fixed
in 12.02. Thanks to Donald Safstrom in BootCamp. |
|
12.02 |
Bug |
The new Market Profiles dialog malfunctioned
if you entered more than six Local Profiles, said OK, and later re-entered the Market
Profiles Dialog. Introduced in Version 12 and fixed in 12.02. Thanks to our good
user Steve Altman for his report and great documentation. |
|
12.02 |
Enh |
In versions 12 and 12.01, Global Profiles
and variants entered the Assumption Set below the Local Profiles and maintained
their positions thereafter until the Assumption Set was saved. Now they enter at
the top of the Profile Pages and keep that place always. This allows you to use
Profile values in Comparative Sensitivity Analysis. |
|
12.02 |
Bug |
Inadvertently, in versions 12 and 12.01 you
were allowed to delete Unit Sales Pages from the Assumption Edit Screen and Edit/Transfer
Pages. Now you must make deletions from the Unit Sales Dialog. |
|
12.02 |
Bug |
In processing Market Profiles some rare assumption
configurations for the Profile being used could cause the Profile to halt repeating
before the end of the Holding Period. Introduced in Version 12 and fixed in 12.02.
Thanks to Joe Ardovitch for his report. |
|
12.02 |
Bug |
If a revenue ended at or after the end of
the Holding Period, and it was then taken To Market, the software would hang. Likewise,
a revenue that ended prior to the beginning of the Holding Period that was taken
To Market would hang the software. Introduced in Version 12 and fixed in 12.02.
Thanks to Steve Fisher for his report. |
|
12.02 |
Bug |
If you used Edit/Paste Page in an
Assumption Set with reimbursements or added reimbursements to an Assumption Set
later after using Edit/Paste Page, the reimbursements for the lease containing
the pasted page could mis-compute. Introduced in Version 11 and fixed in 12.02.
Thanks to Joe Ardovitch for his report. |
|
12.02 |
Bug |
The Draw Points field was mis-labeled on
the Construction Draw and Unit Sales Draw Assumption Pages and the Assumptions Report.
The calculations were correct. Introduced in Version 10 and fixed in 12.02. Thanks
to Tony Guglielmo for the report |
|
12.02 |
Bug |
If you added a SubPage to a lease after a
To Market Page, the lease total would be correct, but the Lease Analysis Report
and the Lease Audit in Edit / Reimbursements contained mis-named rows.
Introduced in Version 12 and fixed in 12.02. |
|
12.02 |
Bug |
If an Assumption Set did not contain an Expense
as %of TI Page, and no loan Amount was specified as a DCR, and no Participating
Loan was present, any Market TI's and Commissions due to Market Profiles would not
be shown in Detail Analysis. All other reporting was not affected. Introduced in
Version 12 and fixed in 12.02. Thanks again to our good user Steve Altman for his
report and great documentation. |
|
12.02 |
Bug |
If the Market Profile used on a To Market
Page contained a Positive Number of Abatement Months, and the Rent Grows
field was set to Yes, and the Commissions Field was a Non-Zero,
the computed Market Commission was too high (a small error growing larger as the
Abatement Months increases). Introduced in Version 12 and fixed in 12.02.
Thanks to Ed Kearney for his report and eagle eyes. |
|
12.02 |
Bug |
The Partnership Models did not properly post
Market TI's and Commissions for any To Market Pages citing TI and Commission rates
in the referenced Market Profile. Introduced in Version 12 and fixed in 12.02. Thanks
to Jeb Brees for his comprehensive report. |
|
12.02 |
Bug |
In Development Spending, if you used a
Draw Column entry less than 100, and the entered percentage was less than the
other percentages in the column, the Accrued Interest allocated to that Asset was
slightly overstated in the Sale Report, thereby misstating the Capital Gain and
Taxes in that report only. The Cash Flows, IRR's and NPV's in all other reports
were correct. Thanks to our good user, Tom McMullan for his report and great documentation.
Introduced in Version 10 and fixed in 12.02. |
|
12.02 |
Bug |
Use of variable Vacancy Rates during a year
could cause the Taxable Revenues in the ProForma and Annual Statements to be slightly
misstated. Only this line (in the Taxable Income report area) and the corresponding
Ordinary Income were affected. The Cash Flows, IRR's, NPV's and Ratios in both reports
were correct. Thanks to our good user, Ron Wallace, CPA for his report and documentation.
Introduced in Version 11 and fixed in 12.02. |