Yardi HELP: Forecast Leasing Assumptions
I'm creating the annual budgets for our properties in Yardi and am having trouble with FLO. Specifically, I'm creating a Spec New Lease with several inputs. But when I run the Commercial Forecast and go to my budget and see the output, either (1) the inputs aren't pulled in or (2) inputs from the "New Lease Source" entry (I use the property's MLA for this) get pulled in even though I specified something else (usually a zero).
I think the "New Lease Source" field is giving me trouble, so the question could be simplified to... how do I use that field properly? Thanks!
Ah, the joys of property management software! It sounds like you're having a bit of a tussle with Yardi's Forecast Leasing Assumptions (FLO). I've seen this issue pop up a few times on the WSO forums.
The "New Lease Source" field can indeed be a bit tricky. It's designed to pull in data from a specified source, like your property's Master Lease Agreement (MLA). If you're seeing inputs from the MLA when you expected something else, it's likely because the system is defaulting to this source.
Here's a little trick I've picked up from the WSO threads: If you want to override the default inputs, you might need to manually adjust the settings in the "New Lease Source" field. Try setting it to "None" or "Manual" (if available), then input your desired figures. This should, in theory, stop Yardi from pulling in the MLA data.
Remember, though, that software like Yardi can be complex and each company's setup can be unique. If you're still having trouble, it might be worth reaching out to your Yardi administrator or support representative for some tailored advice. They should be able to guide you through the process and help troubleshoot any issues.
Keep swinging through those trees, and don't let the software bugs bite!
Sources: Lunch & Learn -Ins and Outs of Multifamily, https://www.wallstreetoasis.com/forum/real-estate/how-do-cre-data-companies-costar-yardi-axio-etc-collect-their-data?customgpt=1, Interesting question reg. Net Debt / Sources & Uses, Sources and Uses: How to Find and Use Information in IBD (EBITDA example)
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