Another request for the tenancy schedule
The half-year valuation is due and the valuer wants an updated tenancy schedule. The same week, the lender asks for one for the loan covenant test, and an agent marketing one of the buildings wants one for the data room. Each asks for slightly different columns.
Someone opens the rent roll spreadsheet, then checks it against the property management system, then remembers two reviews that were agreed but not updated, a break exercised last month, and a rent-free period running on a new letting. They spend two days reconciling and formatting. Each version is saved with a date in the filename.
Why every schedule is a rebuild
The tenancy schedule looks like a report. In practice it is the meeting point for data held in several places, each updated at a different time.
- Lease terms are in the lease records, rent in billing, events in a diary.
- Reviews agreed but not yet billed are held in email.
- Incentives, breaks and expiries are applied by hand.
- Areas come from measurement reports that do not match the lease.
- Each recipient wants its own format and columns.
What the rebuild costs
Skilled staff spend days on assembly each time. Inconsistent schedules sent to different parties raise questions about data quality at the worst moments: valuation, refinancing, sale. Errors in rent or expiry can affect valuations and covenant tests. And because the schedule is rebuilt each time, nobody fixes the underlying data.
There is also the question of which version is true. When three schedules sent in the same month show three different passing rents for the same tenant, whoever reads them next assumes the data is weak across the board, and that impression is hard to shift during a sale or refinancing.
The live tenancy schedule we build
- Lease data, billing data and lease events are brought together from your property management system, accounts system and trackers, through APIs or scheduled exports.
- Each lease line is assembled from the source for each field: tenant, unit, area, contracted rent, rent payable, incentives, review, break and expiry dates, and arrears.
- Automatic checks flag inconsistencies, such as billing that differs from contracted rent without an incentive, expiry dates in the past with no holding over flag, or areas that differ between sources.
- Flagged items go to a person to resolve at source, so the next schedule inherits the fix.
- Exports are set up for each recipient's format: your valuer, your lender, a data room, an investor report.
- Each export is stored with its date, so you can show what was sent to whom.
| Recipient | What they usually need | What the export does |
|---|---|---|
| Valuer | Rents, dates, areas, incentives | Their column layout, as at the valuation date |
| Lender | Income, expiries, breaks, arrears | Covenant inputs laid out as the facility requires |
| Buyer or data room | Full schedule with sources | Schedule with links to lease documents |
| Investors | Summary by building and tenant | Summary tables and trends |
How requests are handled after
A request for a tenancy schedule becomes a choice of export and a quick review of any open flags. The schedule you send the valuer matches the one the lender receives. Data problems are fixed at source rather than patched in spreadsheets. And the team spends its time on the commentary that goes with the schedule.
During a sale, the difference is noticeable. A buyer's surveyor asks for the source of a rent or an expiry date, and the schedule links straight to the lease page or the review memorandum. Questions that used to take days to research are answered from the record.
Does this match your experience?
- Producing a tenancy schedule takes days.
- Schedules sent to different parties do not match.
- Agreed reviews and incentives are applied by hand.
- Areas differ between sources.
- The rent roll spreadsheet has many versions.