The Market Income projection dialog has two modes: Basic and Detail.
Market Income - Basic Mode
This dialog is activated from the Income tab by clicking the "Step 2: Market Income" button.
Income: Enter the income applicable for this income stream. This income will be applied according to the income measure established under Step 1: Unit Information. For example, if you selected the "Per SF" income measure, the income will be multiplied by the square footage of the unit. Likewise, if you entered "Monthly" or "Annual", the income income will be multiplied by 12 months or applied as a lump sum for the year.
Vacancy/Collection Loss: Simply click on the spinner to set the vacancy/collection loss rate.
Change Income: Income may be entered as a flat rate, with no changes, or it may increase annually by a percentage or dollar amount.
Detail Mode is activated in one of two ways: You can click the "Add Detail To Income Projection" from the Market Income dialog (see Step 3.2: Market Income), or by clicking any cell from the market income table. The Market Income table is click-sensitive after the "Step 2: Market Income" button has been clicked. When a cell within the table is clicked, the Market Income dialog will display with the income settings for that year. Our recommendation is here is to first project a basic income stream, then if necessary, refine and edit the projection.
Clicking a cell under a given year will activate the income projection tool in Detail mode. This allows you to edit the income/vacancy for any year, or series of years, in the projection period. Using the above table as an example, when a cell under Year 3 is clicked, the detail for Year 3 is displayed in the projection tool (shown below). Note the projection bar shows the relative position within the holding period for the income selected.
At this point, one may edit and project the income for just Year 3, or for any number of years remaining in the holding period. To change the income for just Year 3, one would simply click "Apply". To project the modified income/vacancy terms forward, move the projection bar to the right for the desired number of years, then click "Apply". To apply still different income and vacancy terms for a future date, click a cell under the future year to reactivate the projection tool.
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