You know the moment. A tenant is coming up and you need to decide whether to keep them or take your chances with the market. The math looks simple, but you end up rebuilding two models, lining up assumptions, and arguing about what counts as comparable. The problem is not the formulas. It is putting both paths on the same basis so the answer holds up. This task cuts that step and gives you a clean, like for like comparison in minutes. Asset Management ~10 min to run Compare Renewal vs. Relet Net Effective Rent Vic prompt Use Vic to compare renewal versus relet net effective rent for an expiring lease using my lease terms and market assumptions. Purpose Replaces 90 minutes of manual modeling with a 10-minute output that supports consistent renewal decisions and protects NOI. Inputs Expiring Lease Terms Required Renewal Proposal Optional Market Leasing Assumptions Optional Property Type Optional Output Format Optional Outputs A side-by-side renew-vs-relet analysis in Excel or chat with annualized NER, total PV gap, breakeven rent or downtime, and recommendation. Time saved Turns roughly 90 minutes of manual work into about 10 minutes. How it works You give Vic the facts you already have: expiring lease terms, a renewal proposal if there is one, and your market leasing assumptions. You can include property type and ask for Excel or a chat output. Then run a single command: "Use Vic to compare renewal versus relet net effective rent for an expiring lease using my lease terms and market assumptions." Vic builds two paths with the same structure. For the renewal path, it calculates gross rent over the term and layers in free rent, tenant improvements, and leasing commissions. For the relet path, it does the same and adds downtime carry where needed. Both are discounted to present value and converted to annual dollars per square foot so you are not comparing apples to oranges. The output comes back side by side. You get net effective rent for each path, the total present value gap in dollars, and the landlord indifference point. That breakeven can be shown as the rent you would need on a new deal or the downtime you can afford before the relet path loses. It ends with a direct renew or relet call based on your inputs. This is where the task pays off. Most teams can model a renewal and a relet. Fewer do it the same way across assets, especially under time pressure. Small differences in how free rent is handled or how downtime is carried can move the answer more than the headline rent. With a common structure, you get a decision you can defend in an asset review without walking through two different spreadsheets. It also speeds up negotiation. When a tenant pushes on rent or term, you can see the exact concession that flips the decision. If the relet path is ahead by a narrow margin, you know what to give back to keep the tenant and stay whole. If renewal is clearly better, you have the math to back a firm position. The result is a faster, cleaner call that protects NOI. Instead of spending ninety minutes rebuilding a model you have built before, you spend ten minutes checking inputs and reviewing the output. The analysis is the same every time. That is the point.