The Leases module includes tasks that facilitate lease data entry and that enable you to track critical lease and option due dates. The application includes a wizard interface and forms that present data in panels, so you can choose the data entry method that best suits your needs.
The application also includes the Lease Portfolio dashboard that provides easy access to comprehensive lease data, and includes notifications for alerts. You configure the alerts so that you receive notifications of critical due dates using the schedule that you define.
As the Leases module provides many features for documenting your leases and real estate portfolio, you must assess your needs and determine the module features to implement. You can take an incremental approach and develop more detailed data once you have established the main data. For example, you might start off by entering your buildings, structures, and land and their associated leases and base rents, and later take advantage of the features for basing costs on an index or integrating your lease communications.
This information includes cost and responsibility categories used when entering clauses for leases. Additionally, you can define such information as how and when alerts for options and lease due dates are issued, or decide to work with lease templates.
You can take an incremental approach to developing your background data; for example, do not define indexes if you do not intend to use the lease indexing features.
Enter leases using a wizard that guides you through the process, or use simple forms that enable you to enter a subset of lease information quickly. See:
With either tool, enter your lease details:
A suite inventory tracks each contiguous area that a tenant occupies on a particular floor of a building. A suite inventory can include floor plan drawings showing suite boundaries, but you can also track suites with only an alphanumeric inventory. See Suite Analysis Process Overview.
Use the Add/Edit Wizard to enter your buildings, structures, and land and associate these items with leases.
When you initially enter your properties and leases, you can enter recurring costs. Or, you can later add this information. To add cost information, use:
For information, see Entering Recurring Costs.
As a lease progresses, you may want to record notes pertaining to particular events, tenant complaints, and legal correspondence. You can associate a document with the communication log, and can review the log and associated document as needed
When deciding whether to renew a lease, or to exercise lease options, lease administrators can review key details for individual leases and portfolio items, or review summary information that provides a high-level analysis of your real property inventory.
When deciding whether to buy or to sell property or buildings, portfolio managers generate lease financial reports.
You also need to track critical dates for lease and option expirations.
For information on the calculations presented by these reports, see:
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