NNN retail tenant paying less base rent than lease states
Trying to get the lay of the NNN retail landscape as I’ve taken over management of a 4 tenant strip retail from an elderly family member. Backstory, during Covid one of the NNN tenants was legitimately struggling and base-rent was reduced from $3000 to $2000 on a courtesy verbal basis by landlord (elderly family member).  

What is the accurate underwriting industry standard term/description for this situation?  Would it be something like “contract monthly lease base-rent $3000, collected monthly base-rent $2000”? 

Thank you in advance.
[{"id": "j02grqt", "text": "Sarcastically, that depends on who the client is.\n\nIf you want an actual real life value, use \"effective rent\". Which is the actual money that the tenant paid minus any subsidies given by the landlord.\n\nTo more fully answer the question. When you are describing it quote both the contract rent of $3,000 and an effective rent of $2,000. Theoretically an investor could gain a benefit from a contract rent being higher than the effective through rent escalations that are based upon contract rent.", "replies": [{"id": "j031giy", "text": "Thank you very much freshORANGE", "replies": [], "depth": 2}], "depth": 1}, {"id": "j02zt5p", "text": "I'd underwrite the full rent with an offsetting Loss to Credit for the unpaid rent.", "replies": [{"id": "j031d05", "text": "Much appreciated", "replies": [], "depth": 2}], "depth": 1}, {"id": "j12c0b6", "text": "Yep I second this.", "replies": [], "depth": 1}]