Lease Management
Lease Summary & Features – Key lease dates and lease attributes including commencement and expiration dates, lease year, radius restriction, security deposit and co-tenancy clause. Client defined Lease Features are displayed in a grid and may be imported from a template.
Abstract – The customized Lease Abstract Report has sections for lease dates, landlord and other contacts, tenant improvement allowances, co-tenant requirements, operating costs, percentage rent, rent stream, renewal options and lease clauses. The lease abstract change log report tracks all of the changes that have been made to the lease abstract.
Documents – Listing of lease or legal documents including the Lease, Amendments, Commencement Letters, etc. with attached pdf files. Clicking on one of the rows opens the attached pdf document. A listing of required or standard documents may be automatically attached to each lease.
Early Termination Tracking – Sites that are below the sales threshold and that may qualify for early lease termination are displayed on the dashboard. Multiple types of early terminations are tracked including fixed period, rolling period, sales threshold, co-tenancy violations and exclusive violations.
Insurance – Track building attributes including construction type, roof types and fire systems. Track values by category to facilitate the insurance coverage procedures. Track multiple policies by year and attach the certificate of insurance to each policy for easy reference.
Lease Wizard & Importing – The lease wizard tool facilitates the populating of rents, options and other lease data. A customized script may be written to import lease information directly from an Excel spreadsheet.
Notices – Notices or Alerts may be set-up to remind users of critical tasks or dates. Emails are automatically sent each day until the task is completed.
Option Renewal Tracking – Renewal options are tracked and monitored based on notification dates. As the notification dates become due, the exercise deadline dates are displayed on the dashboard. Standard notification letters may be generated and downloaded to a MS Word format. The final notification letters are attached to the options for easy reference.
Subleases & Surplus Properties – Multiple surplus properties may be attached to each parent site. The status of the surplus property as well as the subtenant and sublease information including rents and renewal options are tracked.
Tenant Improvement Allowances (TIA) – Tenant improvement allowance information including the requirements that must be met before the amount is collectable and the status of the collection are tracked. The source document is attached to the TIA record for easy reference.
Standard Reports – Lease Management standard reports include Document Status Report, Expiring Leases, Insurance Information Report, Options Remaining Report, Options Renewal Report, Schedule of Values, Surplus Space Listing and TI Allowance Information Report.