Rent roll details
Rent roll is the rental income that the borrower is getting from renting out the property for commercial or residential usage. The rental income is considered to determine if the income generated from the rental income is sufficient to service the debt obligation applied to the collateral.
Now, you can capture the rent roll details (unit number, lease start date, lease end date, rental income, and so on) related to the real estate collateral. You can either upload a rent roll CSV file or manually enter the rent roll details against the collateral. On uploading the CSV file, a preview of the uploaded CSV file is displayed on the Rent Roll Details page. The preview consists of the header and the rows of the uploaded file. You can then map the header with the fields.
On saving the mapping of the fields, the rent roll data is inserted in the rent roll details table, and a new document category is created for the Application Collateral object and linked to the document definition selected. If the collateral is associated with multiple applications, this document category is displayed for all the applications.
Rent roll capture is applicable only for real estate type of collateral.
Post-install, a rent roll document category is created.
To generate a rent roll document category in the application, rule(s) need to be added to the rent roll document category.
Manual entry
To enter the rent roll details manually:
Log in to your Salesforce account.
Go to
(App Launcher) > Applications.
On the Applications tab, and from the list of applications, select the required application.
The loan dashboard is displayed.
Select the Collateraltab.
Collaterals associated with the application are displayed. On this page, you can also add collateral with the application.
Select the real estate collateral for which you want to enter the rent roll details, and then go to Rent Roll Details > Manual Entry.
Select
to add rent roll details.
Specify the details as described in the following table, and then select Save:
Field Name Information Business Name Name of the property in which you have the unit that is rented out. Unit Type The unit is rented out for commercial or residential usage.
The supported options are:
Commercial
Residential
Serial/Unit Number The unit number of the property. For example, if the property is in Tower 1A and the number of the unit is 502, specify 1A-502. Square Footage The area of the property in square feet. For example, if the unit is 1200 square feet, specify 1200. Number of bedrooms The number of bedrooms and bathrooms available in the unit. For example, if the unit is a 2 bhk, specify 2 in the Number of bedrooms field.
Note:These two fields are applicable for the Residential type of unit.
Number of bathrooms Lease Start Date The date when the property is rented out to a tenant. Lease End Date The date when the renting agreement is getting over. Increase in percent The percentage by which the rent is increasing every year. Expenses Paid The supported options are:
Modified Gross
Triple Net
Full Service Gross
Currently Monthly Rent The amount paid by the tenant for the rented out property. Comments Any additional notes that you want to specify. Select
(Edit Row) to edit or
(Flag For Deletion) to delete the rent roll details.
Upload CSV file
Prerequisites
Before you begin to upload the rent roll file, ensure that the following prerequisite is met:
A CSV file is created for the rent roll details.
To upload the rent roll file:
Log in to your Salesforce account.
Go to
On the Applications tab, and from the list of applications, select the required application.
The loan dashboard is displayed.
Select the Collateral tab.
Collaterals associated with the application are displayed. On this page, you can also add collateral with the application.
Select the real estate collateral for which you want to enter the rent roll details, and then go to Rent Roll Details > Upload Excel.
Select Choose File and select the file that you want to upload.
Select Upload Rent Roll to upload the file to the system.
The excel file is uploaded and is displayed in the Upload Excel section with all the rent roll data and the header row.
Note:The uploaded CSV file is attached against the document category, Rent Roll.
Select the appropriate option from the Choose a field list to map those with the uploaded file header row.
For example, to map the Business Name header of the uploaded excel with the system, select Business Name from the Choose a field list.
Note:Except for the Comments field, you can map all other fields with the header row.
Select Save.
The rent roll details are added in the Manual Entry section.
Upload the rent roll file on the Documents page
Prerequisites
Before you begin to upload the rent roll file on the Documents page, ensure that the following prerequisites are met:
A CSV file is created for the rent roll details.
Steps
To upload the rent roll file on the Documents page:
Log in to your Salesforce account.
Go to
On the Applications tab, and from the list of applications, select the required application.
The loan dashboard is displayed.
Select the Documents tab.
For the Rent Roll document category, go to
(Actions) > Upload File and upload the rent roll CSV file.
The uploaded file is displayed in the Upload Excel section with all the rent roll data and the header row.
Note:The latest uploaded file is displayed in the Upload Excel section.
Select the appropriate option from the Choose a field list to map those with the uploaded file header row.
For example, to map the Business Name header of the uploaded excel with the system, select Business Name from the Choose a field list.
Note:Except for the Comments field, you can map all other fields with the header row.
Select Save.
The rent roll details are added in the Manual Entry section.