|TStepIdxRentGrowR (Time, Base, RentStart, BrksOrExp, MktRent_s, ReviewDates, AnnRents, GrowthDates, GrowthRates, IdxGrowDates, IdxGrowRates, IdxReg_s, IdxBaseDate_s, [FirstIdxDate_s], [RevDis], [RelVoid_s], [RelRF_s], [RelTerm_s], [RevMonths], [DayCount], [Periods], [ProjMode], [AbStart], [AbFin], [UOTog], [ROpts], [Brk], [IdxLag_s])|
|Stepped Rent growing with indexation and reletting|
|Auto Array Function|
|Market Zero-Aware||Market Zero-Aware|
|T...||Rates pertain to the time up until each corresponding to date|
|...Grow...||Incorporating growth rates|
|Step...||Has a stepped rate profile|
|...R||Function permits itself to repeat at time intervals.|
|...Idx...||Changes in line with a supplied Index|
Indexing growth takes place from the start of the relevant step period, upon the market or fixed stepped rent prevailing at that time, or from the last review date, and the reviewed rent prevailing at that time. It is not from the first of the IdxGrowDates.
This function basically does a rack-rented lease (UK/US style 5 yearly reviews), but it has the option to indexed rent AS WELL. The way it does this is that each rental step can be a flat step (US/UK) or it can be indexed, like leases are in France, for example. How do you switch between the modes? Well, IdxReg_s are the INDEXING REGULARITIES, in months. They apply to each leg of the lease in turn, and if the function doesn"t have one it will use the last available one in the list. You can specify just one regularity (perhaps 0, or 12) if you want. If you DON"T SPECIFY an IdxReg or the IdxReg is zero, then the function will assume normal step/rack rent for that period. Some of the rent roll templates on the web site use this function, which covers a very wide range of property leases.
TemplatesThis function features in the following downloadable spreadsheet template(s):