BRAVE for MRI Software Users

MRI's Position in the BRAVE Pipeline

MRI Software is widely used by institutional owners, REITs, and property managers across commercial real estate. Its modules cover rent collection, lease administration, financial reporting, and budgeting. None of those modules produce an appraisal report — but MRI's operating data is what fills the income side of every BRAVE appraisal of an MRI-managed property.

MRI Reports That Map to BRAVE

MRI Report / Module	BRAVE Field
Rent Roll (current)	Income.PotentialGrossIncome (annualized)
Vacancy & Collection Loss Report	Income.VacancyLoss
Income Statement — total revenue	Income.EffectiveGrossIncome
Income Statement — operating expenses	Income.OperatingExpenses
Reserve / Replacement schedule	Income.Reserves
Lease Administration — current rent + escalations	Supports Income.RentalIncome
Property Setup — physical specs	Property.NetRentableArea, Property.UnitsCount, Property.BuildingsCount

For deeper property-level fields, MRI's Property Setup module often holds gross/net rentable area, unit count, year built, and other physical characteristics — which feed multiple BRAVE Property fields. Cross-check against the property's recorded plans and the prior appraisal.

What to Send the Appraiser

Property owners on MRI should send:

1. Current rent roll with lease terms, rent, escalations, expirations
2. Trailing 12-month income statement at the property level (not consolidated)
3. Two prior calendar-year audited or owner-prepared statements
4. Capex history for the trailing 3 years
5. Vacancy and physical occupancy summary for the trailing 12 months

Operating Expense Standardization

MRI accounts are flexible — each owner can configure their own chart of accounts. That makes consistency hard across portfolios. Before mapping into BRAVE, the appraiser should normalize MRI expense categories into the standard appraisal expense buckets:

• Real estate taxes
• Insurance
• Repairs & maintenance
• Utilities (if owner-paid)
• Management
• Administrative / G&A
• Marketing & leasing
• Payroll (for staffed buildings)
• Other operating

BRAVE captures Income.OperatingExpenses as a single total, but lenders will review the supporting detail. Don't lose the line-level detail in the conversion.

Reserves Handling

MRI's chart of accounts usually treats replacement reserves as a below-the-line item. The appraiser must decide whether to include reserves in the Income.OperatingExpenses total (and set Income.ReservesIncluded accordingly) or keep them separate in Income.Reserves. Lender preference varies — confirm before populating.

See BRAVE Income & NOI Fields for the full handling rules.

Owner-Operator vs Third-Party Manager

When the property is owner-operated, MRI data tends to align cleanly with the appraisal because the operating philosophy matches. When a third-party manager runs the property in MRI, watch for:

• Management fees calculated on top of EGI (need to be expensed properly)
• Reimbursable expenses passed through to tenants (don't double-count in EGI)
• Capital projects coded as repairs (should be reclassified for the appraisal)

After MRI → BRAVE

The income data is one part of the BRAVE file. The appraiser still populates the 52 Property fields, 24 Value fields, and 4 Appraiser fields, then exports — usually via Valcre. For property-type-specific guidance see BRAVE Fields for Multifamily, Office, Retail, Industrial, or Hospitality. Validate before delivery using the BRAVE Compliance Checklist.