Publications

- November 1, 2020: Vol. 32, Number 10

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A guide for COVID-19 rent relief disclosures

by Marybeth Kronenwetter

At the request of the investor community, the NCREIF PREA Reporting Standards Council, in collaboration with the NCREIF Accounting Committee, developed the Guide for Disclosures of COVID-19 Related Rent Relief. Use of the guide fosters transparency around the financial impact of the unprecedented number of rent deferrals and waivers granted to tenants resulting from the COVID-19 pandemic. There are a variety of solutions for providing relief and, accordingly, there is no one-size-fits-all solution for how revenue is recognized and reported within financial statements. The guide provides investment managers with a consistent framework to report this impact to investors, synthesized in a meaningful manner and inclusive of information they are likely planning to discuss and disclose, using data that is generally available. The guide is designed to promote understanding, ease of information access, and uniform transparency, while also addressing the unique levels of disclosure

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