Unit area and leased area
Understand the difference between a unit's own area and the leased area on its lease, and how rent per sq.ft is calculated from them.
Overview
Property360 keeps two area figures:
| Figure | Where it lives | What it means |
|---|---|---|
| Unit area | The unit (Area (sq.ft) in Edit Unit) | The physical size of the unit, such as its built-up area. |
| Leased area | The lease (Leased Area (sq.ft) on the lease's Rent & Deposit tab) | The area written in the agreement, such as chargeable or carpet area, or the total for a lease that covers several units. |
Rent per sq.ft is always calculated as rent ÷ leased area. It is never typed in. If a lease has no leased area, the unit's own area is used.
Before you start
- Record each unit's area when you set up the floor. See Buildings, floors and units.
- Keep the lease agreement handy to check the area it states.
Steps
Set a unit's area
- Open the property, then open the unit's ⋮ menu and choose Edit Unit.
- On Unit Details, enter Area (sq.ft). The note under the field shows how much of the floor is still free.
- Click Save.
Set the leased area on a lease
- On Property Details, open the unit's ⋮ menu and choose Manage Tenant & Lease. This opens Edit Tenant & Lease on the lease. Then go to the Rent & Deposit sub-tab.
- Leased Area (sq.ft) starts with the unit's area. Change it if the agreement states a different area.
- Rent / sq.ft (auto) updates as you type.
- Save the lease.
Read the Area column on Property Details
In Floors & Units, the Area column shows the unit's own area. If the lease records a different area, an amber L tag shows the leased area next to it (for example 1,200 L 1,250). Hover over it for a plain-English explanation and the suggested fix.
Under each rent in Current Rent, Property Details shows ₹/sq.ft in green. The Rent / sq.ft tile at the top is the property's blended rate: total rent ÷ total leased area.
Example
Unit G-1 at Lakeview Plaza measures 1,200 sq.ft. Bluebird Cafe's agreement charges for 1,250 sq.ft, which includes a share of the common corridor, at ₹1,00,000 a month. The Area column shows 1,200 L 1,250, and the rent per sq.ft is ₹1,00,000 ÷ 1,250 = ₹80.00/sq.ft.
FAQs
What about a lease that covers several units?
Its leased area is the total for the whole lease. The ₹/sq.ft is the same for every unit on that lease. Each unit's share of the rent follows the per-unit rent split if you set one. Otherwise it is estimated by unit area and marked with ≈. See Multi-unit leases.
Which figure do reports use?
Rent per sq.ft everywhere (Property Details, Rent Summary and reports) uses the leased area. Floor area checks use the unit areas.
Does changing the unit area change the lease?
No. They are separate fields. Update whichever one is wrong.
Troubleshooting
An amber "L" tag appears
The lease and the unit disagree. If the unit's area is right, update Leased Area (sq.ft) on the lease. If the lease is right, correct the unit's Area (sq.ft).
Rent per sq.ft shows a dash
Neither the lease nor the unit has an area, or the lease has no rent. Add the missing figure.
Area exceeds the floor's remaining sq.ft
See The floor area check.