The rent reletting family has variations of the standard rental functions that permit the function to relet itself after a void and rentfree period. This makes them useful for occasions where you are modelling the space that is under lease rather than just the lease itself, for example when assessing the long-term value of a building.

The Rent Reletting family has functions that calculate the rent of a main lease, just like the Rent From and Rent To families, and then keeps reletting after the ØExpiryOrBreakØ of the main lease. The way the rent reletting functions work is:

• The main lease is calculated just as in the corresponding single lease rent function, for example the main lease of FStepRentGrowR is simply a FStepRentGrow.
  
• After a void period of ØReletVoidØ months where no rent is received, the property is assumed relet.
  
• Rent commences after a further ØReletRFØ months, the rent be determined as the market rent at the commencement of this second lease (without any RevDisc applied).
  
• The first rent review of the second lease occurs ØReviewMonthsØ after the commencement of the second lease, and market rent reviews continue at intervals of ØReviewMonthsØ, to the market rent, less any RevDisc applied.
  
• The second lease expires after ØReletTermØ years after the commencement of the second lease, then a ØReletVoidØ is applied, then a third lease commences, and so on.

• RentFcstR (reletting equivalent of RentFcst).
  
• RentGrowR (reletting equivalent of RentGrow).
  
• FStepRentGrowR (reletting equivalent of FStepRentGrow).
  
• FStepRentFcstR (reletting equivalent of FStepRentFcst).
  
• TStepRentGrowR (reletting equivalent of TStepRentGrow).
  
• TStepRentFcstR (reletting equivalent of TStepRentFcst).
  
• Then there are some utility functions that are useful in building up a model that has reletting:
  
• NextReviewR (the reletting equivalent of NextReview, which tells you when the next review occurs.
  
• LastReviewR (the reletting equivalent of LastReview, which tells you when the last review occurred.
  
• ReletOccurs, which tells you if a relet occurs in a particular timeperiod.

• For void costs that run for a short while during a ØReletVoidØ and then repeat during the next ØReletVoidØ, there is ConPer, or perhaps more usefully incorporating growth, AnnGrowPer and ConGrowPer.
  
• For refitting and fees, there are functions in the Payments Periodic family (MkPmtsPer, MkPmtsPerGrow and MkPmtsPerFcst), or for more precise spreading of payments over time, try the Time Spread Periodic family (UniSpreadPer, SCurvePer).