A lease is a contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the lessee, also known as the tenant, use of an asset and guarantees the lessor, the property owner or landlord, regular payments from the lessee for a specified number of months or years.

Lease agreement is agreement in which owner (Land lord) and customer (Rent holder) and agree all legal rules and regulations regarding their contract. This module helps to record all of the information.

List View:

The list view screen of lease agreements gives options to add new lease agreement, import data from previous systems used in entity and generate reports in different formats of recorded items, along with a detailed tabular form of listed lease agreement. This list view included all lease agreement information such as ID, Type, tenant name, building name, owner name, rent, status, action number and also selected all possible information. On above screen, Edit, view, Export Excel, Print, Export in PDF options will appear.

Adding Lease Agreement:

Field definition table of above form are as under:

Field Name Condition Field Definition
Building type

*

First of all select the Building type from dropdown

  • If you select Building then select the building name from dropdown
  • If you select the Building Unit then select Unit Number and Unit name from dropdown
Tenant name

*

Select Tenant name from dropdown .then Tenant information fetched from tenant. Like Company, Country, Phone, Email, Address, City, State.
Postal Code

*

Enter the Postal Code for country which have select
Frequency   Select Frequency of rent from dropdown .Monthly, quarterly or Yearly. Next Invoices will be auto generated according to selected parameters.
Rent   Enter the rent which is deal with tenant
Lease Start Date

 

  Select Lease Start date from calendar
Lease End Date

 

  Select Lease End date from calendar
Deposit Refundable   If you Check the this then deposit amount is refundable

If you didn’t  check this then deposit amount is not refundable

Commission to Agent   Enter the commission of agent if you lease the building or unit through agent
Deposit Amount   Enter Deposit amount which is tenant pay at first time
Status   Select Status of Tenant from dropdown Active or Inactive
Cost Center   Enter cost center
Token Amount   Enter the token amount which is tenant pay for booking the building or building unit
Tax   Select tax from drop down.
Auto Renewal /Expire after lease date   If you select Auto Renewal then lease will be auto generated. Also invoices will be auto generated

If you select Expire after lease date then agreement will be expire after lease end date. And invoice will not be generated

 

Cost Center   Select cost center from drop down which is come from financial
Dimensions   Select Dimension which is respectively Cost center
Project   Select project from drop down
Fine type   Fine type only Per day
Amount   Enter fine amount which you have deal with Tenant
Due Date   Enter the due date after that fine will be implemented
Partial Payment   Select partial payment allowed or not allowed
Invoice Amount

*

Enter partial payment amount which you have decided with tenant
Due Date Extension   Enter due date for partial payment
Save

*

Click save option to save all relevant options