Rent Payments/Accounting

How is rent paid?

Is there an easy way to identify my lease when I contact REO with questions?

How and when do I notify REO of budget numbers for rental payments?

Why might my rent change during the term of a lease?

How and when am I notified of rent charges to my budget?

How do I receive a copy of a CTI or ISD?

How do I obtain a copy of an old CTI or ISD?

How are miscellaneous invoices paid?

How is rent paid?

The Real Estate Office (REO) makes all rental payments to landlords and then recharges the appropriate UW budget based on information provided by the Tenant occupying the space.

Tenants send the Rental Budget Recharge Request Form to REO as soon as possible after a new lease is signed. The same form is used to notify REO of budget number changes for an existing lease. If there is a change, notify REO by the 10th of the month preceding the month affected by the change (e.g. notify REO by January 10th for February rent payment).

Is there an easy way to identify my lease when I contact REO with questions?

Yes.   Your lease is assigned a REO Transaction Number. This 5 digit number is used by REO for all of your lease information in the REO database. The number will be sent to you when your lease is signed. It is also indicated on the forms you receive showing how rent is charged to your budgets on Cost Transfer Invoices (CTIs).

How and when do I notify REO of budget numbers for rental payments?

Use the Rental Budget Recharge Request Form to notify REO of new or changed budget numbers. Send the form as soon possible after the lease is signed. New budget numbers are assigned by Grant and Contract Accounting.

Changes to existing leases must be received by the 10th of the month preceding the month affected by the change (e.g. by January 10th for February rent).

Why might my rent change during the term of a lease?

Your rent may increase (step up) based on the terms of your lease. If you have a triple net (NNN) lease your operating costs are determined at the end of each year and your rent may increase if the total expenses for the building have increased from the prior year. A triple net lease is one where the tenant pays a fixed rental amount plus expenses of the leased property (such as taxes, insurance, maintenance, utilities and cleaning, etc.).

How and when am I notified of rent charges to my budget?

You receive either a Cost Transfer Invoice (CTI) or an Internal Sales Document (ISD) as notification of rent charges to your budget.

The CTI is used for transferring the costs of services or supplies between budgets. REO Accounting issues CTIs to Tenants leasing space not owned by the University.

The ISD is used for recording sales, services or supplies by Service Centers or Auxiliary Enterprises to other University of Washington enterprises. REO Accounting issues ISDs to Tenants occupying space owned or master leased by the University.

How do I receive a copy of a CTI or ISD?

REO Accounting sends the Cost Transfer Invoice (CTI) or the Internal Sales Document (ISD) to the Tenant by the end of each month. The CTI or ISD should be received prior to receiving the related Budget Activity Report (BAR).

How do I obtain a copy of an old CTI or old ISD

Use the Cost Transfer Invoice (CTI) / Internal Sales Document (ISD) Copy Request Form to request previously issued CTIs or ISDs.

How are miscellaneous invoices paid?

REO handles payment of miscellaneous invoices for leased property (e.g. shelving, key requests, patch/paint, etc). Invoices are typically mailed directly to REO. REO then sends the invoices to the Tenant for approval signature and payment budget number. The Tenant has 10 days from receipt of the invoice to indicate approval to REO. REO then submits a check request to UW Payables Administration for payment. When the invoice is paid, REO recharges the Tenant's budget. The Tenant is notified of the budget charge with a CTI or ISD.