Lx LseMod Previous Version Enhancements
What’s New in Lx LseMod V14 & V14.5?
(PMR) denotes a Product Modification Request that is the result of a customer request.
THANK YOU to our customers who continue to make Lx LseMod the best Lease Analysis software solution on the market!!!
New in Lx LseMod V14.5
Goal Seek Free Rent
LseMod already has an extensive custom Goal Seek (i.e. in addition to the standard Excel Goal Seek); and we have added the ability to Goal Seek Free Rent. Need to change the total cost, average rent, NPV by adjusting Free Rent, you can do it ALL with the click of a button. (PMR)
Scenarios
Need to easily identify Proposal 1 vs. Proposal 2 vs. LL Counter? We have added a “scenario” field so the scenario will appear on all reports and at the top of the Management Summary comparing alternatives. (PMR)
Exchange Rate Calculations
In LseMod’s Silver Series (e.g. Tenant Rep, Industrial, Sublease, Landlord, & Buy) we have added the ability to evaluate costs in any one currency and measurement and then convert those costs to another currency and measurement, e.g. Do an analysis in Euros and sq. meters and convert and compare those costs in US Dollars and sf. Note: LseMod’s Gold Series (i.e. LseMod Pro) has always had this capability. (PMR)
Weighted Totals Calculation in the Management Summary
We have added the ability to create weighted average totals in the management summary, particularly useful when evaluating multi-property scenarios and adding the properties to get a weighted average cost/sf. Note: A difference between LseMod and some other programs is a matter of flexibility. With LseMod you can compare over 500 variables side-by-side, picking and choosing what’s important to you, and you can put them in any order you want. No matter what order you use, the Weighted Average Calculation will work! (PMR)
Expanded Property Titles in the Management Summary
Property titles can now be of any length and will include the scenario; so, you can make the description as detailed as you want. Note: Cells can be overwritten as necessary, another flexibility feature of LseMod. (PMR)
As always, there’s more, such as showing the GAAP lease term and Occupancy Term on reports, changing property names on the graphs, etc.
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New in LseMod V14
New Formats
We tweaked the Management Summary comparing multiple properties on 1 page. Similar items are grouped and given a color heading. Check out the sample Management Summary reports for LseMod Tenant Rep or LseMod Pro. (PMR)
Industrial Metrics Like Pallet Capacity – In LseMod Industrial we added cubic capacity, calculations for cost/pallet, cost/door, and pallet capacity. (PMR)
Delete Linked Files
You can now delete linked files from LseSum so if you were comparing 4 buildings and one drops out, you can just delete the drop out building from LseSum. (PMR)
LseMod Pro Run Rate & Comparison to Currently Leased Space
We rearranged the costs in the Financial Summary Report to show costs that impact the Run Rate and One-Time/Project Costs. At the bottom of the Financial Summary report we compare Current vs. Proposed Run Rate costs and Space Leased, including a Variance and a V%. On the standard Management Summary Comparison Report we include the Comparison of Current vs. Proposed. (PMR)
Cost Allocations in LseMod Corporate
We added a report so P&L costs can be forecasted for up to 15 different Business Units/Cost Centers. The costs can be based on Head Count or Space Leased and the Costs themselves can be just the Run Rate or the total P&L Impact (Run Rate + One-Time Project Costs). (PMR)
Net or Gross Free Rent
In LseMod’s Silver programs (e.g. Tenant Rep, Industrial, Landlord, Retail) we added an option to make the free rent Net or Gross. We also have adjusted the Concessions Impact of Free Rent so it will be correct if the Free Rent is Net or Gross. (PMR)
LseMod Sublease
We added a Comparison to a Restructuring Reserve / Restructuring Budget and enhanced the Cost Recovery Analysis.
Change Colors, Point & Click
Need to change the background color or change the color of the text – it’s all point & click in LseMod! We added the ability to point & click to change colors, e.g. from blue to dark green, (either Office 2003 or Office 2007 or your own custom colors) and highlight sections, you can even change the font color. It’s all point & click! (PMR)
Calculators
We have included in all programs calculators for determining the blended rent, weighted average rent and blended space. (PMR)
Net Effective Rent
For our friends in Canada, we added the Net Effective Base Rent in addition to the Net Effective Rate, which we have had for years. Base Rent covers just the Base Rent whereas Net Effective RATE includes all costs. (PMR)
Lease Year for Data Entry
To simply entering dates for rent increases and special expenses / credits, you can now use the lease month.
Free Rent Calculator
If you need to know the amount of free rent needed to pay for the Tenant Improvement costs, or any other cost, use our Free Rent Calculator. (PMR)
Rent Summaries
We added a section in LseSum summarizing Annual Base, Net, and Gross rents (Total, Avg. per Year, Avg per Yr / rsf. (PMR)
IRR, etc.
In LseMod Buy, Condo & Purchase we replaced the ROE with the IRR and re-did the management summary based on requests and input from a CCIM instructor. (PMR)
Break Point
In LseMod Buy & Condo, we added the rent break-point and the purchase break-point to the Management Summary, e.g. given a purchase price, what does the rent need to be to make buying a better option than renting.
Email Enhancement
We simplified how to add additional files from different LseMod or LseSum reports to an email file. Additionally, we added the ability to add an Internet link (e.g. link to broker profile, link to a building’s web site) to the Table of Contents.
Lx LseMod Corporate
Made Other Rents and Other Monthly Costs variable names that flow through to the LseMod reports and also can be shown on the LseSum reports. (PMR)
Sale Leaseback, Flipping the Property
We tweaked the program to include an option to flip a property (from a tenant’s perspective), e.g. Purchase and immediately do a Sale Leaseback. (PMR)
Other Enhancements
Ease of Use features include a link to check for upgrades, and GoTo Navigation on the Additional Inputs sheet in LseMod and on the Links sheet in LseSum. In the Operating Expense section we added a line item called “Cap Controllable Expenses”.
GAAP Enhancements
We are committed to making Lx LseMod Corporate the leading lease analysis software that is U.S. GAAP and FASB compliant. In 2009 we will adjust the program as necessary when, and if, the European Union and United States adopt a universal GAAP standard. In addition to the changes listed above (e.g. calculators, changing colors, lease year for data entry, etc.), LX LseMod Corporate now includes the following:
1. Restoration/Dilapidations (FASB 143) – we included the option to show Restoration per FASB 143. Includes the calculations for Present Value of the Future Value and the Accretion Expense required. (PMR)
2. In Additional Inputs you can now add capital at any time during the term, including the ability (per GAAP) to adjust rent for this new capital if it includes Landlord inducements. (PMR)
3. For those doing International – LseSum Gold now includes ability to show costs in the Management Summary in Home Country measurement (e.g. sf) as well as Local Measurement (e.g. sm). You can already use the exchange rate for currencies. (PMR)
4. In LseMod Pro and LseSum Gold we included the option to Hide Rows permanently, e.g. permanently hide the After Tax costs. (PMR)
5. We included blank forms for a Project Write-Up and 2 more user defined reports. (PMR)
6. In LseMod Pro we added a Cash Flow Sublease Cost Recovery Analysis in addition to the GAAP Sublease Analysis that has been a part of LseMod for years. We also now explicitly show the sublease/disposition write-off per GAAP. (PMR)
7. GAAP Sublease Analysis. We added a new report, Sublease Assumptions, that has the “original lease” and the Sublease. We made the GAAP sublease calculation more encompassing. Before the calculation just had rent, opx, tenant direct opx and depreciation write-off as costs of sublessor’s space. Now the calculation includes Special Taxes, Restoration (including any restoration accruals), and other 1 time costs such as moving, refunding an Economic Development Credit, etc.. Another change was to straight-line the Subleasee’s Rent for the GAAP Sublease Calculation.
8. We added a comparison to a Restructuring Reserve in the event of a sublease using Cash Flow and/or P&L Costs and either Not Discounted or based on the NPV.
9. We have clarified the Occupancy Term vs. the GAAP lease term (required if applying GAAP accruals during construction) and adjusted the Concessions to exclude free rent required by GAAP for the construction period. (PMR)
10. We added a GAAP option to straight-line rent for Other Rents, e.g. Roof Rent. (PMR)
11. We re-did the Assumption printouts to clarify the GAAP impact.
12. We added a link to the Internet to check for the Exchange Rate. (PMR)