Rent Increase Billing Term Amounts Are Not Calculated Based on the Base Rent Amount (Doc ID 1351277.1)

Last updated on JULY 02, 2015

Applies to:

Oracle Property Manager - Version 12.1 and later
Information in this document applies to any platform.

Symptoms


Unexpected amounts for billing terms are created after approving rent increase for leases with fixed rate rent increase.The billing term amount is not based on the base rent amount.

The issue can be reproduced as the following example:

1. Create a 5 years revenue lease with 1 billing term:

commencement date = 01-JAN-2011
termination date = 31-DEC-2015
amount = 1000

2. Create a rent increase on that lease with the following data:

Assess in years = 1
Date assessed = 01-JAN-2012
Base Year = 01-JAN-2011
Increase on = Base Rent
Reference Period = Base Year
Basis Type = Fixed
Default Fixed Rate = 5 %
Commencement date = 01-JAN-2012
Termination date = 31-DEC-2015

3. Generate the Rent Increase Periods as following:

Number : 1
Date Assessed = 01-JAN-2012
Start Date = 01-JAN-2011
End Date = 31-DEC-2011
Fixed Rate % = 5

Number : 2
Date Assessed = 01-JAN-2013
Start Date = 01-JAN-2012
End Date = 31-DEC-2012
Fixed Rate % = 7.5

Number : 3
Date Assessed = 01-JAN-2014
Start Date = 01-JAN-2013
End Date = 31-DEC-2013
Fixed Rate % = 10

Number : 4
Date Assessed = 01-JAN-2015
Start Date = 01-JAN-2014
End Date = 31-DEC-2014
Fixed Rate % = 12.5


3. Run the Calculate Rent Increase Program

The rent due amounts are calculated correctly for each period as 50, ,75, 100, 125

4. Run the "Approval Rent Increase Terms" Program

 The end date of all the approved RI billing term is 31-Dec-15
  It is expected to be 31-Dec-12 , 31-Dec-13, 31-Dec-14 and 31-Dec-15 respectively.
   The calculated amounts are incorrect according to the incorrect end dates.

Cause

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