Working with Leases

After the initial Property Lease Management setup is completed, review this general workflow for working with revenue or expense leases.

Tip: To create a simple lease, use the PLM New Lease Wizard. If you need to make further adjustments, review this workflow for more information.

  1. On the PLM Lease, create a lease:
    1. The Lease FastTab is for the general settings of the lease.
    2. The Lease Terms FastTab is for the length of the lease.
      You can add more than one term for the lease.
    3. The Level FastTabs are for linking the lease to property levels, and the Lease Line (Lowest Level) FastTab for specify the lowest level of the property category (for example, a suite in an apartment building).
  2. The PLM Lease Charges page is for applying charges to the level.

    3. When adding a charge, be sure to select lease lowest level line to which you want to add the charge.

  3. After the lease is set up, you can perform any of the following tasks: 
    1. Use the PLM Deposits page to accept deposits for the lease.
    2. Use the PLM Insurance page to add insurance information for the lease.
    3. Use the Fixed Assets and Equipments page to add fixed assets or equipments for the lease.
  4. When you are ready to start creating invoices for the lease, do any of the following tasks on the Charge Details page: 
    1. Add any price adjustments or abatements.
    2. If the charge is a consumption charge, enter meter reading or consumption values.
  5. Use the PLM Invoice Creator to generate invoices.
  6. If during the life of the lease, the customer wants to move from one space to another under the current lease, use the PLM Space Change Wizard.
  7. To termination the lease, use the PLM Batch Termination/Reverse Termination page.