Prerequisites
- Subscription Tier: Professional or Enterprise
- Lease Comparables input into Valcre Online
- The current Valcre Valuation Workbook downloaded and set up by enabling the Rent1 sheet at a minimum. Rent2-4 for additional Rent sheets
Table of Contents
- Enabling the Rent1-4 sheets
- Lease Comparison Approach Set Up and table
- Lease Conclusion table
- Lease Comparable Map
- Lease Comparable Photographs
Enabling the Rent 1-4 sheets
Step 1: In the Home sheet, select any approach with income. You may also select SHOW ALL under the Approaches, then select Yes for Income + Commercial Leases-Rent 1 and and additional Commercial leases Rent 2-4 approaches as applicable.
Lease Comparison Approach Set up and Table
Step 1: Pull in your Lease Comps and set up your sheet.
Import by Comp Set name: Pulls the lease comp data from Valcre Online into the Lease Comparison table below. Pro tip: You may also manually input or swap out comps by entering the comp id found on the lease record in Valcre online. |
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Comparables Analyzed: Clean up the table by using the comparables analyzed drop down to remove excess space. | |
Adjustments: Select if you will make Quantitative or Quantitative adjustments. | |
Rent Terms: Select how you would like to display rent terms: Annually or Monthly. | |
Unblended Rents: Enable/disable Unblended rents. | |
Market Conditions Adj. / Yr. - Manually set and Market Condition Adjustments per year. Mkt Cond. Effective Date: Set the applicable date |
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Standard Adjustment: Select the standard adjustment you wish to apply. The default is 5% | |
Market TI/SF High/Low: Modify as appropriate | |
Market Free Rent High/Low: Modify as appropriate | |
Tenant Leasing Group- If you are using a single tenant rent roll, this will populate for you by default with the single tenant leasing group name.
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Lease Comparison Table
Displays the location for both the subject property and comparables within the set, this is the same across all jobs.
Step 1: Pull in any additional custom comp attributes from Valcre Online to populate additional fields. These attributes will populate with data that was input into Valcre online. The drop down will allow you to select any field from the lease or property record. Add as many as you would like.
- NEW with all workbook versions 1.6.0 or higher: 34 additional adjustment categories, including granular adjustments from related buildings, parcels, and streets across all Comp Grids. Also, the adjustment values and aggregates will match Valcre Online.
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Pro tip: This section has ten additional lines hidden; unhide them if you wish to add additional items to this table.
- As with any table, do not delete columns or rows; it will cause workbook errors to form and prevent their usage in the Report.
Lease Information Section
Step 1: Add your percentage adjustments as needed.
Step 2: Hide any unnecessary rows.
Step 3: Select whether to make dollar or percentage adjustments for each line item
Building info
Quantitative values entered on Valcre Online are populated here. These will generate a percentage adjustment for the value using the standard adjustment value selected when setting up your sheet.
Pro tip: You can override, by manually typing into the cells themselves. If you don’t want to make any adjustments select Qualitative. |
Step 1: Add additional items you would like to make adjustments on
Pro tip: This section has nine additional lines hidden; unhide them if you wish to add additional items to this table. |
Final dollar per square foot values after adjustments are now available, and you are ready to make your conclusion.
Lease Conclusion Table
The Market Rent Conclusion Table shows a summary of adjustments that will assist you in making your final conclusion and displays a high, avg, med, low table to assist with making final conclusions.
This table pulls in the tenant leasing group(s) selected for this approach. In the event there are multiple tenant groups, you will see multiple line items
Pro-Tip: The table pulls through the report exactly as it appears here. To hide this, from displaying in the report, select no in the Hide Adjustment Summary drop down. |
Step 1: Enter the asking price per square foot in the Asking field
Step 2: Select the Lease Structure
Step 3: Enter the Market Rent Conclusion. This flows through to the Direct Cap table as the Market Rent.
Lease Comparable Map
This map will show your Subject and Comparables using Google Maps (default) or Here Maps.
Step 1: Bring in your map by selecting your preferred map provider and then select Get Map
Pro tip: Are you seeing overlapping pins? If this is the case, you can use the moveable map pins provided at the top of the chart to ensure your map is displayed correctly. More information on how to work around this scenario can be found in the following video - Modifying Comparable Map Pins |
Step 2: Set map preferences
Map size Select how your prefered size |
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Show Key Appears below the map |
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Map Type Select the appropriate Map Type |
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Zoom Note: The Zoom defaults to Auto, fitting the subject and all comparables on the view. Adjust your zoom as necessary using the drop-down and selecting Get Map to show changes. |
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Pin Style Adjust your pin style to highlight your subject and comparables as appropriate for your report, and select Get Map to show changes. Note: Google Maps only allows you to use their default pin types |
Additional Pin Modifications
Step 1: Adjust Pin Colors and Labels.
These were pre-set during branding when you first purchased Valcre, but they can be manually updated by right-clicking and selecting a new color fill.
Lease Comparable Photos
Step 1: Select Get Photos to bring the primary photo from your Lease Comparable photos input into Valcre Online.
Step 2 (optional): Resize the photos
The photos will retain the same height, but you may need to adjust the width.
- Option 1: Select Use Auto-Fit and then select Get Photos. This will auto scale the photos to the same size.
- Option 2: If you want to adjust sizing on a per photo basis, you may manually change the sizing as applicable.
Continue Learning about Valcre with our next suggested guide: Valcre Workbook: Using the SURVEY1 - Survey & Unit Mix. |
For additional questions please contact Valcre Support.