Name: Corom to Voyager
Uploaded: 2024-10-30
Duration: 4 min 10 s
Description: Hello everyone! Today's session will cover an overview of Corom and Voyager modules, with Corom feeding data and Voyager displaying it for various departments. Let's dive in..

[Audio] Hello everyone! Today's session will cover an overview of Corom and Voyager modules, with Corom feeding data and Voyager displaying it for various departments. Let's dive in.. 

Scene 1

Created by Sookmin Chang and Kristy Avery

[Audio] Slide 1: Overview of Corom and Voyager We begin with how agents initiate a lease in Corom. This chart shows key differences between fields in Corom and Voyager. The 'Admin/non-Admin' designation appears as 'Brand' in Voyager. The 'Proprietor' field in Voyager is labeled as 'Customer,' whereas Corom doesn't capture this information in a specific field, as 'Proprietor' is a custom field used that only County is using. Also, mention that these fields (Customer, Brand, and Tenant improvement lease information) are critical but must be manually added in Voyager by SMS. For example, the naming format might look like:'1000 Fremont, Department D-H-S--, listed as a tenant improvement Lease'. Now, let's move to the next slide.. 

Scene 2

Lease
Name
DBA Name
Customer
Brand
Lease Type
Status
At Risk
0000118
1000 Fremont DHS Tl lease
hs - Health Services
ion-adm - Non-Admin
lafsg
Current

Property
Ncme
Lease Type
Lcnddrd/Owner
Currency
1000 Fremont DHS_TI lease (0000118)
The Alhambra Complex - Ecst Tower - (0471 )
1000 Fremont DHS_TI lease
LA-Full Service Gross
usd

Naming convention Voyager Corom Name  1000 Fremont DHS  TI lease 1000 Fremont DHS  TI lease Admin/non-Admin Brand Stage template  Proprietor Customer No field Lease id t0000118 Lease ID not generated until converted to Voyager

[Audio] Slide Title: Tenant Improvement Lease Management Guidelines Tenant Improvement leases follow a two-stage process due to timing considerations. First, in the execution phase, agents input lease start and end dates, rent amount, and relevant clauses in Corom handled by L-A-S-. Proposal Date Field: It's important to note that John's signature or Board approval for an admin lease may occur after the agent creates the Corom proposal. Therefore, input the proposal's start and end dates based on the lease agreement. Rent Amount:
Enter the rent amount using the charge code "Tenant Improvement lease" This coding is essential for P-P-M-S when creating the renewal amendment and for R-B-A when verifying rent amounts, ensuring a smoother process overall. Clauses and Vendor ID:
Be sure to include any relevant clauses and enter the Vendor ID under billing contacts. Convert to Voyager:
When a Tenant Improvements lease converts from Corom to Voyager, S-M-S will revise lease start date using John's signed date and a description labeled "Lease Execution Date" If necessary. Let's move to next slide.. 

Scene 3

Tl lease execution 

 Created by LAS

 Tl lease commencement:







 Description "TI Lease Commencement”

 Created by PPMS 

 Lease start: John’s signed date

 Month to month 

 Description: “Lease execution date”

 Lease date: According to lease agreement

Amendment - Original
Lease Information
Lease Name 1000 Fremont DHS Tlleasg
Property Name The Alhambra Complex - East Tower ( a471 )
LeaseTerm 06/25/2024
Link!
Terms
Type
Status
Description
Lease Start
Term (Months)
Lease Expiration
Move-in
Original
Activated
Lease execution date
Activated by/Date
Updated by/Date
Contracted Area
Possession Date
Occupancy Cert.
Sign Date

)UNTY OF LOS ANGELI
)0dy corporate and politic
SIA A DAVENPORT
lief Executive Officer
John T. Cooke
Assistant Chief Execut

[image] Summary
Type
Original Lease
Unit(s)
Status
Activated
Charge
From
06/26/2024
Schedules
To /
Inactive
Amendments
Proposal
Term
O
Description
Lease execution date

[Audio] Slide Title: Tenant Improvements Lease Commitment Process The second stage occurs once the Tenant Improvements construction is complete, P-P-M-S amends the lease, sets up rent schedules, and enables R-B-A to start processing rent payments. Key actions here include creating the renewal amendment and ensuring documents are attached for reference. Be sure to use the description "Tenant Improvements Lease Commencement" for this amendment. Let's move to next slide.. 

Scene 4

Amendment - Renewal ( Renewal - Entin
Lease Information
Lease Name
Property Name
Lease Term
Terms
Type
Status
Description
Renewal Date
Term (Months)
Expiration Date
12440 E Imperial Highway BWC,Suit
Norwalk Government Center (aka Be
04/06/2023
In Process
TI lease commencement
Up
co
HO

Summary
Type
Original Lease
Renewal
Unit(s)
Status
Activated
In Process
Charge Schedules
Amendments
Term
Proposal
Description
From
04/06/2023
10/01/2024
Inactive
09/30/2032
96
Lease execution date
TI lease commencement
Clauses
Unit(s)
300084
300084

[Audio] Slide Title: Vendor ID Setup for New Proposals For any new lease, the agent informs the landlord that they need to create a Vendor ID through the I-S-D portal. For leases with Tenant Improvements that have a future commencement date, or when a landlord has yet to create their Vendor ID, use "CEO_Temp" as the temporary. Vendor info in Corom should be entered across three sections for complete tracking. Proposal Main Page Contacts Page Charge Schedule Page Let's move to next slide.. 

Scene 5

Placeolder Vendor Code for brand new leases (where the landlord does not yet have a vendor ID):

 Use the Vendor code "CEO_Temp" for the following sections

New lease: landlord-created vendor ID from the ISD portal TI lease: ceo_temp.

Charges
Code
Select Charge Code
Date
5/1/2024
lilling
Months
4/30/2029
A mount Type
Monthly
DO N Ot Pay
units
Need Vendor (ceo_ternp)
VVrite something. _ _

Attach Vendor
Vendor *
Need Vendor ID (ceo_temp)
us
Role*
Payment Method
Select Type
Check

P rop I
property
Lease Type
L ner
12300 Low•er Azusa Road
LA — Service G
Arcadia
ACV./M
Requi
proposal Ft-orn
proposal TO
Default
1/2024
4/30/2029
Need Vendor

[Audio] Slide Title: Important Instructions for Creating New Units First, what is a unit? ? In lacrems, a unit refers to a space. Ideally, every suite number and its respective square footage should be identified if this information is available. Before creating a new unit, confirm it's already attached to the correct property. A quick reminder: It's crucial to verify square footage before activating leases, as corrections post-activation are complex and require escalation. Let's move to next slide.. 

Scene 6

Important Instructions:
 Before creating a new unit, ensure it is not already attached to the property. It is essential to verify and enter the correct square footage.

13555 Fiji way
Renewal • Entire Lease
Return to Lease • 78341
Am end rnent
Units
Charge Schedule
Clauses
Options
Ten•ancy Irnprovernent
Units
3
Unit(s)
BHSTE201
FRSTE202
SHSTE203

Unit(s)
Floor
Charge Schedules
Amendments
Location
Propc
Unit
- 13555 Fiji_uay
BHSTE201
- 13555 Fiji way
FRSTE202
SHSTE203 - 13555 Fiji way
Area
2,633.0000 0
5,530.0000 0
6,658.0000 0

[Audio] Slide Title: Case Study: Charge Schedule Example
In this slide, I'll share a lease case example where three departments share rent, with specific months (1, 13, 36, 48, and 60 of the Initial Term) designated for abated rent. Setting Up Rent Charges in Corom: Set up two rent charges:
One for the full rent amount of $57532.95 (using leasehold/rent charge code as a placeholder).
The other for the abatement amount of $57532.95 (using the Abatement charge code) to indicate the rent abatement for R-B-A-. Once converted to Voyager, R-B-A will modify and split the Schedule Steps to add department.
Adjust the schedules to reflect separate rent amounts for each department, including the abatement portions based on their square footage. Rationale:
Combining the two rent charge schedules is necessary since eCAPS does not accommodate negative rent amounts. R-B-A will modify the schedule accordingly. Let's move to next slide.. 

Scene 7

Rent Charges
Charge Code :
Start Date - End Date
Leasehold/Rent
7/9/2024 -
7/8/2029
Abatement
7/9/2024 -
7/8/2029
Unit :
All
Area :
Area Type
20187sf
CAMPSGrossSQFT
20187sf
CAMPSGrossSQFT
Amount :
Monthly :
Yearly
$57,532.95/mo
"90,395.40M
$57,532.95/mo
- $690.395.40,'yr

This lease example involves three departments sharing rent. Specific months (1, 13, 36, 48, and 60 of the Initial Term) will have abated rent.

Unit
Management-Eee-CQd.e
Management Fee %
Sales Tax Code
Sales Tax Rate %
Days Due
Description
Close
Schedule Steps
Amount
STE202
0.0000
0.0000
ISD rent 3% increase
Help
Indexation
Delete
Invoice Terms
From Date
To Date
08/08/2024
0.00 07/09/2024
08/09/2024
0.00 07/09/2025
21,925.81 08/09/2025
0.00
23,261.09
0.00
23,958.92
0.00
06/09/2027
07/09/2027
06/09/2028
07/09/2028
06/09/2029
07/08/2025
08/08/2025
07/08/2026
06/08/2027
07/08/2027
06/08/2028
07/08/2028
06/08/2029
07/08/2029

[Audio] Slide Title: Lease Agreement Clauses Corom clauses display in Voyager and may include terms like holdover or termination. If there are any clauses you would like to add and cannot find the corresponding tag, please notify S-M-S for assistance in setting it up. Let's move to next slide.. 

Scene 8

Clauses may include holdover, early termination, rent abatements, and other related provisions.

Clauses
Name
LA-Holdover terms
LA-Opti" to Extension
LA-Rights for Early Termination
Description
3% increase and same terms al
125%. Landlor ...Show more
Right Of First Offer Tenant Shal
premises _„Sh0w more
Any reason after 96th month w
portion of Base ..Show more

Unit(s)
Add
Rent
Name /
Misc
Options
Open Activities
LA-Free rent
LA-Holdover terms
LA-option to Extension
LA-Rights for Early Termination
Description
5.3 Rent AbatementThe monthly rent for m...
7. HOLDOVERIf Tenant remains in possessi„,
34. OPTION TO EXTEND(a) option Term. Pro...
Section 1.1(i)One Hundred Eighty (180) D...
Activity History
End Date
01/10/2027
Reference
Section 5.3
Section 7
section 34
Section 1.1 (i) & Secti01

[Audio] Slide Title: Options Management. Option dates are linked to the main dashboard Calendar and Critical Dates. Options like "Option to Purchase," "Option to Renew," "Termination Date," must be set up to send early notifications to each department. To prevent delays and avoid potential renewal or holdover fees, we can activate the renewal option directly in Voyager if it's included in the original lease. There's no need to go back to Corom to create a new renewal proposal. Let's move to next slide.. 

Scene 9

Options
Type
Normal
Start
Initiated By
7/8/2024
Notice s)
Earliest 7/9/2023
Latest: 10,'12/2023
Description
Term
@ S to notify
LL ot least 9 months. but not
more than 12 months prior to
expiration of tt'.e Extended Term.

The dates for options are linked to the main dashboard Calendar and Critical Dates

Acti v i
Edit
Optio to Pu
Terrni n a tion
A Cti v e
A Cti v e
Active
Cla u s
Expi ratio n
07/08/2029
07/08/2029
07/09/2027
O pti o n s
Notice Oate
07/08/2028
07/08/2028
Brief
Opti on to
v tie s
Descri
Extend Terr"

Other Pending Amendments
Date Field
Custom Option Latest Notice
Expiring Custom Option
Expiring Custom Option
expiring Renewal Option
Expiring Renewal Option
Expiring Renewal Option
Expiring Renewal Option
Expiring Renewal Option
Expiring Renewal Option
Expiring Renewal Option
Expiring Renewal Option
- 10/21/2024
Calendar
Critical Dates
Relative to
Critical Date
08/01/2025
09/11/2025
09/30/2025
11/30/2024
12/11/2024
02/03/2025
02/28/2025
03/19/2025
03/31/2025
03/31/2025
05/31/2025
Toda
284
325
344
40
51
tos
130
149
161
161
222
primary Type
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
Commercial Lease
primary Description
725 S Grand Ave ( 75036 )
4680 San Femando Rd ( 7
3530 Wilshire Blvd ( 300022
444 N Nash St ( 78539 )
6th ( 78537
26111
Sub
Option
Option
Option
Option
Option
Opt' on
Option
Option
Option
Option
Sub Description
pption to purchase 1
Option-to-extend
Extension ODtion
Extension Terms
Qztiqn-lecm-(isc)
Option-Term-tlst)
Option

[Audio] Slide Title: Case Study Scenario: This lease has a 5-year initial term. To exercise the option to extend, the tenant must notify the landlord of their intention no later than 12 months and no earlier than 15 months before the end of the initial term.
Yardi's reminder feature calculates these notification dates, ensuring timely communication for extensions. Let's move to next slide.. 

Scene 10

Lease
Property
12750 center court or
DA - Criminal Justice Information
Amendment Type
Amendment Dates
Renewal
07/09/2024
Option Terms
Status
Start/Effective Date
Expiration Date
Valid Till Date
Term (months)
Renewal Type
Who Initiates?
Penalty
Amendment Only?
Description
Notes
Time of Essence
Active
60
Normal
Tenant
0.00
Option to Extend Term
One @ 5 years, tenant to notify LL
no later than twelve (12) months, •
nor earlier than fifteen (15)
Set Status
Cancel
Decline
Expire
Save
Notices
Close
Eelp
Renewal Rent Steps
Clause
Latest Notice (days) 07/08/2028
Earliest Notice (days)
455 04/08/2028

[Audio] Slide Title: Attachments Management. Upload lease documents from Corom into Voyager's "Documents" section to ensure easy access via SharePoint for lease review. That wraps up our session! Feel free to reach out to Sook or Kristy for any follow-up. Thank you for your time!. 

Scene 11

YARDIVOYAGER
Home Help Sign OJt
Roles
Reports
Charges
Receivables
Payables
Mortgage
GIL
Head Lease
Lease
Name
DBA Name
Customer
Brand
Lease Type
Status
t0000164
444 S Crocker St - DHS
hs - Health Services
non-adm - Non-Admin
Iamg
Future
Links
Attachments (14)
Memo
Email
Task
Workflow
Ledger
Costs/lnducements
Straight-
Lessee
Lessee
Move Ou
IPD Info
Lease Cc
Tenant II

C
Yardi Corom
Das
A Home Proposals 1 12300 Lower Azu
E
Proposal
ShareF
Contacts
Units
Charge Schedules
Other Costs
Tenancy Improvement
Clauses & Options
Workflow History
Documents
Audit Report
Legal
o

Corom to Voyager

Hello everyone! 

Today's session will cover an overview of Corom and Voyager modules, with Corom feeding data and Voyager displaying it for various departments. 

Let's dive in.

avatar

Slide 1: Overview of Corom and Voyager

 
We begin with how agents initiate a lease in Corom. This chart shows key differences between fields in Corom and Voyager.

The 'Admin/non-Admin' designation appears as 'Brand' in Voyager.

The 'Proprietor' field in Voyager is labeled as 'Customer,' whereas Corom doesn't capture this information in a specific field, as 'Proprietor' is a custom field used that only County is using.


Also, mention that these fields (Customer, Brand, and Tenant improvement lease information) are critical but must be manually added in Voyager by SMS. 

For example, the naming format might look like:'1000 Fremont, Department D-H-S--, listed as a tenant improvement Lease'.


Now, let's move to the next slide.

Slide Title: Tenant Improvement Lease Management Guidelines

Tenant Improvement leases follow a two-stage process due to timing considerations.

First, in the execution phase, agents input lease start and end dates, rent amount, and relevant clauses in Corom handled by L-A-S-.


Proposal Date Field:

It's important to note that John's signature or Board approval for an admin lease may occur after the agent creates the Corom proposal. Therefore, input the proposal's start and end dates based on the lease agreement.

Rent Amount:
Enter the rent amount using the charge code "Tenant Improvement lease" This coding is essential for P-P-M-S when creating the renewal amendment and for R-B-A when verifying rent amounts, ensuring a smoother process overall.

Clauses and Vendor ID:
Be sure to include any relevant clauses and enter the Vendor ID under billing contacts.

Convert to Voyager:
When a Tenant Improvements lease converts from Corom to Voyager, S-M-S will  revise lease start date using John's signed date and a description labeled "Lease Execution Date" If necessary.


Let's move to next slide.

Slide Title: Tenant Improvements Lease Commitment Process


The second stage occurs once the Tenant Improvements construction is complete, P-P-M-S amends the lease, sets up rent schedules, and enables R-B-A to start processing rent payments. 

Key actions here include creating the renewal amendment and ensuring documents are attached for reference.

Be sure to use the description "Tenant Improvements Lease Commencement" for this amendment.


Let's move to next slide.

Slide Title: Vendor ID Setup for New Proposals


For any new lease, the agent informs the landlord that they need to create a Vendor ID through the I-S-D portal.
 
For leases with Tenant Improvements that have a future commencement date, or when a landlord has yet to create their Vendor ID, use "CEO_Temp" as the temporary.

Vendor info in Corom should be entered across three sections for complete tracking.

Proposal Main Page

Contacts Page

Charge Schedule Page



Let's move to next slide.

Slide Title: Important Instructions for Creating New Units


First, what is a unit? ? In lacrems, a unit refers to a space. Ideally, every suite number and its respective square footage should be identified if this information is available.


Before creating a new unit, confirm it's already attached to the correct property.

A quick reminder: It's crucial to verify square footage before activating leases, as corrections post-activation are complex and require escalation.



Let's move to next slide.

Slide Title: Case Study: Charge Schedule Example
In this slide, I'll share a lease case example where three departments share rent, with specific months (1, 13, 36, 48, and 60 of the Initial Term) designated for abated rent.

Setting Up Rent Charges in Corom:

Set up two rent charges:
One for the full rent amount of $57532.95 (using leasehold/rent charge code as a placeholder).
The other for the abatement amount of $57532.95 (using the Abatement charge code) to indicate the rent abatement for R-B-A-.


Once converted to Voyager, R-B-A will modify and split the Schedule Steps to add department.
Adjust the schedules to reflect separate rent amounts for each department, including the abatement portions based on their square footage.

Rationale:
Combining the two rent charge schedules is necessary since eCAPS does not accommodate negative rent amounts. R-B-A will modify the schedule accordingly.




Let's move to next slide.

Slide Title: Lease Agreement Clauses


Corom clauses display in Voyager and may include terms like holdover or termination. 
If there are any clauses you would like to add and cannot find the corresponding tag, please notify S-M-S for assistance in setting it up.




Let's move to next slide.

Slide Title: Options Management.



Option dates are linked to the main dashboard Calendar and Critical Dates.

Options like "Option to Purchase," "Option to Renew," "Termination Date," must be set up to send early notifications to each department.


To prevent delays and avoid potential renewal or holdover fees, we can activate the renewal option directly in Voyager if it's included in the original lease. There's no need to go back to Corom to create a new renewal proposal.


Let's move to next slide.

Slide Title: Case Study Scenario:



This lease has a 5-year initial term. To exercise the option to extend, the tenant must notify the landlord of their intention no later than 12 months and no earlier than 15 months before the end of the initial term.
Yardi's reminder feature calculates these notification dates, ensuring timely communication for extensions.




Let's move to next slide.

Slide Title: Attachments Management.


Upload lease documents from Corom into Voyager's "Documents" section to ensure easy access via SharePoint for lease review.
 
That wraps up our session! Feel free to reach out to Sook or Kristy for any follow-up. Thank you for your time!