PSL rate element maintenance overview

There are two distinct aspects to a property rate levied through a Private Sector Leasing (PSL) scheme: (1) The specific value agreed for the lease fee, taking into consideration the type of property, location and rateable attributes, which is ascribed at elemental component level, and (2) The complementary payment rules applicable to the PSL rate, initiated at different points in the lease lifecycle, and therefore affecting the contribution of each elemental component.

A PSL rate can be a single value, or it can comprise a number of related components; hence a consolidated rate is formed, consisting of several elemental values. Therefore when adding a rate to a leased asset, all the associated elements are automatically transferred, ensuring both consistency and administrative efficiency. For example, a rate could be created for 'Monthly Lease' which might comprise three element costs: 'Basic Lease Fee', 'Parking Space' and 'Services'. The 'Monthly Lease' will be displayed as a single overall total, but with the opportunity to analyse the components from which that figure is derived. To ensure that element costs are allocated correctly, configuration settings control several characteristics concerning their deployment: classification (PSL Property Rate or PSL Agreement Rate), applicable account types and applicable agreement types.

Separate help articles have been created for each key aspect of PSL rate element maintenance, including:

• To create a new PSL rate element
• To clone a PSL rate element
• To define the rate attributes of a PSL element