In this article we explain
- What is a Space in Moderan
- How to add a new Space
- How to choose a Space name
- What is a Leasable Space
- What is a Space Size
- Custom fields
Spaces in Moderan are single units that you lease out to tenants.
You may define this single lease unit as you lease out this single Space: a whole floor, multiple offices as one, shop combined of several rooms, single room or even a corridor.
Moderan lets you define each Space you lease out separately. It also lets you change Spaces further. Once you add the Space sizes in m2 Moderan automatically calculates its total for the each Building, and uses it in all calculations and Reports.
We recommend entering them as particular as possible with your Property setup - to the clearest physical level of a Space to be leased. That makes changes and combinations of Spaces easier.
Example: You have a Tenant renting our three floors. You may enter all three floors as a Space unit.
Yet, if some floors/rooms are taken from this Tenant it would be easier to split it out if you define Spaces as rooms.
PRO TIP: At this point you may want to go over and structure up your data for effective property management. Moderan Team can help you with rethinking the model - ask us for services on that!
Adding a new Space
- Go to Moderan > Assets > Spaces
- Click +ADD NEW and fill in the fields
Space name* - enter a name for this Space. This is a mandatory field.
Tips on choosing Space names
- Tenants might change with time, so it's useful to select a more general identifier, e. number/ floor number and combo instead of naming Spaces after Tenants
- Name might be an office No (ex.201), combination of number and function (ex. Appt 6, Warehouse Locker-34), your company code used to configure leasable spaces, etc.
We recommend using a combination of 3 digits where first digit represend a floor and other two - a unique Space number. Three digits make the alphabetical sorting convenient.
Example: Spaces105 and 106 on first floor, next comes Space 201 on the second, etc.
Building* - select the Building in which this Space is located. Once selected, they will be linked further. This is a mandatory field.
Space Function – select relevant function for your Space
Ask your Moderan Admin to add a Space Function if it is not in the drop-down - custom ones can be added
Leasable vs Non-leasable Spaces
Not all Spaces in your Property are leasable: you may want to enter some common areas that are not to be leased out (e.g. ventilations, corridors, public toilets). You can do that in Moderan by unticking the field Leasable Space when you create it.
If you don't mark the Space as Leasable:
1. The Space won't be included in the Leasable Space of the Building.
The total sum will be calculated only based on which Spaces you defined as "leasable".
2. The Space won't be available to select in a Contract.
In Contracts you can only select Spaces that have been marked as leasable.
Space size in Moderan is flexible. This feature lets you easily manage your leases at any moment of time and with any change to be made!
When we add a new Space it is recorded without a date.
In Space card such line marks the initial Space size:
When you make changes to the Space size in future they are to be recorded as new lines with effective dates:
Other & Custom fields
Floor – add floor number if applicable
Section – a text field for specifying building section or other relevant info (e.g. "Section A", "North entrance")
Target Rent – define the level of rent you want to be earning from this certain Space. Moderan will further show you the comparison of such and the actual income in the Contract card: both absolute value and percentage.
Usage of Target Rent is up to you - when field is not field, it will not be shown in the Contract.
Apart from the default fields there is a possibility to enter various custom fields for your needs
- Click on the Custom Fields icon in the top-right corner
- Enter the Name for your fields
- Select the type of field (text, number, checkbox, date)
Example: custom checkbox field "Pets allowed"
Customs fields are added to the Spaces grid columns, so you can use them in the Spaces grid to filter.