Reconciliation rules

ListingLab is a reconciliation gate: before a book can export, the numbers inside it have to agree with each other. These checks run automatically when you open Verify on a deal.

This is not about tracing every figure back to CoStar or the model — it is about catching when the rent roll total does not match base rent, when comp averages are wrong, or when the same headline appears twice with different values. Rules use two severities only — see legend below. They are coded in the engine today — not user-editable.

Rule severities

Blocking — Export stays locked until the finding is fixed — same bar as a failed reconciliation gate.
Warning — Broker must acknowledge on Verify before export — the numbers still disagree, but you chose to proceed.

“Partial” on a product gap means we told the truth about what’s unfinished — it does not mean the risk got cheaper. That label is for roadmap honesty elsewhere — it is not a third rule severity on this page. The catalog below is the live check list — unfinished product work stays unfinished until it ships.

60 checks on a standard MF deal+ SUM-14 on portfolio BOVs · 61 in catalog · 48 blocking · 13 warnings

See it on a real deal

F1 retail (blocking) — real OM where rent-roll total does not match base rent (SUM-02); export blocked.
Monterra (clean) — multifamily book reconciles; zero blocking findings on Verify.

Live check list

We add checks when real broker books expose a gap — not claiming exhaustive coverage across every asset class or Tier-2 probe yet.

Sums & totals(13)

Line items and subtotals add up — rent roll, expenses, income cascade, unit mix.

Rule	Severity	What it checks
	Blocking	Rent-roll rows sum to totals
	Blocking	Rent-roll total = base rent
	Blocking	Expense lines sum to total
	Blocking	Income cascade closes
	Blocking	EGI − expenses = NOI
	Blocking	Unit mix counts = units
	Blocking	Unit mix SF = NRSF
	Blocking	Unit mix rents = GPR
	Blocking	Count facts agree across sections
	Blocking	Rent-roll SF = GLA/NRSF
	Blocking	Reimbursement income lines sum
	Blocking	Tenant reimbursements total
	Blocking	% of building sums to 100%

Portfolio(1)

Member properties sum to portfolio headline units, SF, and price (portfolio BOVs only).

Rule	Severity	What it checks
	Blocking	Portfolio members sum to totals

Cross-references(5)

The same fact in two places shows the same value — headlines, maps, body copy, and model vs finished OM when both are loaded.

Rule	Severity	What it checks
	Blocking	Same fact, same value
	Blocking	Display rounding consistent
	Blocking	Headline matches source
	Blocking	Comp map pins match comp cards
	Blocking	Label denominator matches computation

Comps & sources(9)

Comp averages, selection counts, subject not in comps, pinned model cells.

Rule	Severity	What it checks
	Blocking	Comp averages
	Blocking	Per-comp $/unit and $/SF
	Blocking	Model cell matches pinned revision
	Blocking	Two methods agree
	Blocking	Published n matches selection
	Blocking	Subject not in comps
	Warning	Allocated comps marked
	Blocking	Approved provenance unchanged
	Warning	om_published headline drivers marked

Derived math(16)

Ratios and per-unit math match what the numbers imply — cap, GIM, $/unit, $/SF.

Rule	Severity	What it checks
	Blocking	Price ÷ units
	Blocking	Price ÷ SF
	Blocking	NOI ÷ price = cap
	Blocking	Price ÷ income = GIM
	Warning	Expense ratio
	Warning	Vacancy % × GPR
	Warning	Management fee %
	Warning	Down payment % × price
	Warning	Loan = LTV × price
	Warning	NCFADS = NOI − DS
	Warning	Combined %/$ cell consistency
	Warning	DSCR = NOI ÷ debt service
	Blocking	Annual = monthly × 12
	Blocking	Monthly rent = $/SF × SF
	Blocking	Per unit / per SF = total ÷ denominator
	Blocking	Acres × 43,560 = lot SF

Occupancy & rent roll(8)

Physical and economic occupancy, lease flags, and roll facts agree internally.

Rule	Severity	What it checks
	Blocking	Physical occ + vac = 100%
	Blocking	Economic occ + vac = 100%
	Warning	Economic occ ≤ physical occ
	Blocking	Stated occupancy vs roll
	Blocking	Expired lease needs MTM flag
	Warning	Current/Market formula parity
	Warning	Market rent ≥ current rent per type
	Blocking	$/SF period monthly vs annual

Lease arithmetic(9)

Lease terms, rent schedules, escalations, and expiration lines line up.

Rule	Severity	What it checks
	Blocking	Lease term arithmetic
	Blocking	Rent schedule contiguous
	Blocking	Last period ends on expiration
	Blocking	Rent step = prior × (1 + increase)
	Blocking	Headline escalation matches schedule
	Blocking	Term remaining uses single as_of
	Blocking	Options summary matches schedule
	Blocking	Exercised option counted once
	Blocking	Expiration schedule matches roll