Creating and Maintaining Leases

This chapter provides an overview of leases, lists prerequisites and common elements, and discusses how to:

• Define general lease information.

• Define lease financial terms.

• Define lease clauses.

• Add notes and attachments.

• Review basic lease information.

• Manage my lease portfolio.

Understanding Leases

PeopleSoft Real Estate Management is an integrated solution that effectively manages the entire life cycle of a corporate real estate lease, from lease execution and financial processing through lease expiration and termination.

A lease is an agreement between a lessee (tenant) and a lessor (owner, landlord, or property manager) that defines terms of the rental, such as the period of time and rent amount for a property or multiple properties. The lease is the basis for invoices or vouchers and receipts or payments. You create a lease to enable processing for an invoice or payment for recurring rent and operating expenses for that lease.

You can process everything from a single invoice or payment to the most complex recurring invoices or payments as required by the lease. You can perform cost allocations, rent escalations, and capacity planning for your organization, and establish critical date alerts to notify you when you must take action on or make a decision about a particular lease.

Before you create a lease, you must determine the type. There are two types of leases: payables leases and receivables leases. Your role—landlord or tenant—determines the type of lease that you create.

This section discusses:

• Payables leases.

• Receivables leases.

Payables Leases

Payables leases enable a tenant (lessee) to manage and report on rent, operating expenses, and miscellaneous rents. You can set up recurring payment schedules to facilitate the lease. You can set up percent rent terms based on sales reported by tenant. You can capture specific lease clauses and lease options, and set up critical date alerts for important events related to the lease, such as lease expiration. You can also audit operating expenses, comparing with previous years to ensure continuity of spending.

You create a payables lease when your organization is the tenant (or lessee) and you are issuing rent payments to a landlord (or lessor) for space that you are occupying. You enter the lease terms from your signed lease agreement as a payables lease and set it up for payment processing through PeopleSoft Payables. As a result, the majority of your transactions are payables transactions or payments that you are issuing through PeopleSoft Payables to be paid to your landlord.

When you enter the lease, you can establish recurring rent payments that the system processes on a periodic basis of your choosing. When processing rent payments, the system generates transactions with PeopleSoft Payables as the transaction destination. Even manual payments, which include ad-hoc entries, security deposits, operating expense audits, and percent rent sales reports, can be sent through PeopleSoft Payables with their associated accounting ChartFields, as determined by the transaction routing code and accounting rule setup. You can also send through PeopleSoft Payables (first as a negative reversal entry of the originating transaction and then as a new entry for the revised payment amount) any adjustment entries caused by changes in security deposits, operating expense audit adjustments, or percent rent sales reports.

For payables leases, the integration points to consider for processing are PeopleSoft General Ledger (for straightline accounting), Payables, and Asset Management (for the Asset Repository). Since PeopleSoft Billing integration is not needed for payables leases, any adjustment transactions are sent through PeopleSoft Payables as negative voucher entries.

See Defining Transaction Routing Codes.

See Understanding PeopleSoft Real Estate Management Accounting Rules.

Receivables Leases

Corporate real estate management sometimes requires landlord billing capabilities for leasing owned property and subleasing leased property. Accounting for all costs and lease income associated with lease management is critical to a landlord (lessor). Receivables leases enable you to collect rent, manage your expenditures, and allocate them proportionately to the departments or other entities.

When you create a receivables lease, you set up recurring invoices that generate automatically in the frequency defined in the lease. You can track lease clauses and options, and set up critical dates to remind you of important events related to the lease, such as lease expiration. You can also set up simple to complex rent terms, track percent rent schedules, and upload percent rent sales reports to determine the percent increase to bill for monthly rent.

You create a receivables lease when your organization is the landlord (or lessor) and you are submitting rent bills to a tenant (or lessee). For a receivables lease, you enter the lease terms from your signed lease agreements and set up the terms for processing as the landlord. As a result, the majority of your transactions are billing transactions or bills that you are issuing through PeopleSoft Billing to your tenant.

When entering the lease, you can establish recurring rent bills that the system processes on a periodic basis of your choosing. When processing rent invoices, the system generates transactions with PeopleSoft Billing as the transaction destination. Even manual bills, which include ad hoc entries, security deposits, operating expense reconciliations, and percent rent sales reports, are sent through PeopleSoft Billing with their associated accounting ChartFields, as determined by the transaction routing code and accounting rule setup. You can also send through PeopleSoft Billing (first as a negative reversal entry of the originating transaction and then as a new entry for the revised payment amount) any adjustment entries caused by changes in security deposits, operating expense audit adjustments, or percent rent sales reports.

Security deposit refund processing, which is available on receivables lease processing (outside of the lease component) can potentially divert the security deposit refund to PeopleSoft Payables if, during lease expiration, the refund has not been depleted by sufficient deductions to cover the remaining amount outstanding and money is owed back to the tenant.

For Receivables leases, the integration points to consider for processing are PeopleSoft General Ledger (for straightline accounting), Billing, and Asset Management (for the Asset Repository). Although, for the most part, any adjustment transactions are sent through PeopleSoft Billing as negative invoice lines, a PeopleSoft Payables integration is also available (and potentially necessary) to handle security deposit refund processing during lease expiration.

See Understanding Transaction Routing Codes.

See Understanding PeopleSoft Real Estate Management Accounting Rules.

Process Flow Overview for Creating a Lease

The high-level business process flow for creating a lease consists of these steps:

1. Define the general lease information.

2. Enter the lease timetable and lease administration information.

3. Add the property information.

4. Define the financial terms of a lease.

5. Add base rent.

6. Add the operating expenses.

7. Add miscellaneous rent.

8. Define percent rent information.

9. Enter security deposits.

10. Add lease clauses.

11. Establish options and set critical dates.

12. Add and attach pertinent notes.

13. Define internal and external contacts for the lease.

14. Validate and activate lease.

See Establishing Operating Expenses for a Lease, Setting Up Percent Rent Terms, Setting Up Security Deposits, Setting Up Options and Critical Dates, Understanding Real Estate Management Contacts.

Prerequisites

Before creating leases, you must:

• Set up schedules and calendar IDs.

• Structure lease component setup.

• Set up vendor and customer (landlord and tenant)

See Adding New Vendors, Adding General Customer Information.

See Pages Used to Define Common Journal Definitions.

See Also

Structuring Leases

Common Elements Used in This Chapter

Defining General Lease Information

This section provides an overview of general lease information and discusses how to define general information for a lease.

Understanding General Lease Information

Defining lease terms and property information is the first step in setting up a new lease. You can create a new lease or copy from an existing lease.

You can associate a one-to-many relationship between a lease and leased properties. For example, a lease can include multiple properties or a single property with multiple floors, areas, or space. To define the property information, populate the property grid. The property summary provides the calculation for total area for all properties listed on the lease.

Note. After the lease is activated, you must create an amendment to change the property information.

Before you create a lease, you need to understand the underlying actions of some of the fields and how they affect the overall processing of the lease. This section provides an overview of:

• Lease actions.

• Lease statuses.

• Proration method.

Lease Actions

You can specify various actions for a lease. The Action field is dynamic and works in conjunction with the lease Status field, enabling you to change the status of a lease at various stages.

For example, to activate a lease, you select Activate Lease from the Actions field (if you have user authority). After the lease status is Active, the only available actions are Cancelled, Expired, and Dispute.

The available values are:

• Activate Lease: You can activate leases if all the necessary lease information is correctly entered and validated by the system. Once a lease is activated, you can begin financial processing, make rent payments, and generate invoices. Activation of the lease validates the lease to ensure that all of the data entered is accurate. If errors are encountered, the system provides information for each error. You must correct these errors before you can reactivate the lease.

  Validation errors, when detected, appears in a list towards the top of the page, showing all the errors the system detected. The system also highlights the fields that contain invalid data as a further visual clue. To view and resolve the error, you click the Go to Error link. Errors found on other pages have the Go to Error icon with the page name displayed. Clicking on the icon takes you to the named page.

• Add to My Portfolio: Select to add the lease to your portfolio page. This action is only available if the lease is not currently in your portfolio.

• Cancel Lease: Select to cancel a lease if the lease was entered in error. This action is only available if the lease status is in pending or active status, and the lease does not have any existing financial transactions generated.

• Close Lease: Select to close a lease that has expired and for which all final closing transactions are complete. When a lease is closed, you cannot process any financial transaction for that lease. Before closing a lease, we recommend that you leave a lease in expired status for a period of time to allow for ad-hoc transactions, such as security deposit refunds, final bill payments, end of the year operating expense reconciliations, and so on.

  Note. You may consider keeping the lease in expired status for one year to ensure that all transactions for that lease are completed.

• Copy From Existing Lease: Select to copy from an existing lease. You can copy from another lease only if your lease is in pending status.

• Delete Lease: Select to delete a lease. You must be in update mode and the status of the lease must be pending.

• Dispute Lease: Select to set a lease to dispute. The status of the lease must be in either active or holdover before you can set the status in dispute. Once a lease is in dispute, all financial transactions are put on hold. You cannot process recurring or ad hoc transactions until the dispute is resolved.

• Expire Lease: Select to set the lease status to expire. To expire a lease, the status must be active, in dispute, or holdover. Once a lease expires, all recurring rents are no longer automatically generated. However, you can still issue ad hoc transactions, such as security deposit refunds, percent rent sales reports, and operating expense reconciliations.

  Note. If a lease, with straightline accounting specified, is manually expired, under straightline accounting rules, the accrual or deferral must be written off during the termination period. A one-time adjustment is made to end the general ledger entry and balance out the lease for all paid amounts.

• Holdover Lease: Select to set a lease to holdover. When the lease is set to holdover, the lease has already expired. You can complete negotiations or enable the tenant to continue to occupy the property for a short time beyond the expiration date. To extend the lease you need to create an amendment. If the lease's termination date is 6 months beyond the date on which the amendment is activated you are given the option to set the lease back into an active state.

• Manage Amendments: Select to create an amendment on the lease or view past amendment history. Creating an amendment changes the terms and conditions of a lease, storing new terms along with historical terms. To create an amendment, the lease status should be Active or Holdover.

• Resolve Dispute: Select this value after the dispute is resolved. The lease is set to the original status before the dispute.

• Submit for Review: Select this action to submit the lease for review. If workflow is setup for Real Estate Management, the system will send an email with a link to the lease abstract.

• Validate Lease: Select to validate the lease to ensure that all required fields are populated. Because you can enter the lease in pending status with little required information, the system must perform an extensive validation of all lease data entered to ensure that all of the appropriate entries are correct. During validation, if any errors are encountered, the system provides information on each of them.

  Validation errors, when detected, appears in a list towards the top of the page, showing all the errors the system detected. The system also highlights the fields that contain invalid data as a further visual clue. To view and resolve the error, you click the Go to Error link. Errors found on other pages have the Go to Error icon with the page name displayed. Clicking on the icon takes you to the subsequent pages.

• View Lease Abstract: Select to view the lease abstract. You cannot view the lease abstract if the lease status is cancelled.

Lease Status

The lease status is a system-defined value that provides a visual indicator of the lease status within the lease life cycle. The lease status also controls what processing can occur against the lease. When creating a lease, the status is set to Pending. You can save a lease with only the description; however, you cannot activate the lease until you enter and validate all fields. Use lease amendments to create changes against an active lease.

The available values are:

• Pending: Initial entry point in a lease life cycle. You must enter only the description of the lease. No financial processing occurs at this state. Leases can be set to Activate in the Action field if all the data is complete and successfully validated.

• Active: You can change the status of the lease from pending to active based on an installation option and your role. If auto approval is enabled at the installation level, then any user with the Lease Administrator role can activate a lease. If auto approval is disabled at that installation level, then only users with the Lease Administrator role can activate the lease. If any other user activates a lease, then the system presents the user with an option to send an email message to the portfolio manager of the lease to request lease activation. When a lease is activated, financial processing of the lease begins.

  See Setting Up Application-Specific Installation Options.

• Cancelled: You can cancel a lease in pending or active status if there are no transactions associated with the lease. After the lease is cancelled, the lease is stored for future reference only.

• Expired: A lease can expire if the end date on the lease lapses.

• Holdover: You can manually move an expired lease into holdover status if negotiations are in process or the tenant requests an extension for a short period of time to occupy the property beyond the expiration date.

  If the tenant requests an extension, the lease term becomes a month-to-month obligation. To change the status, you must either renew the lease or let the lease expire.

• Dispute: You can put a lease in dispute status if it is in litigation or negotiation. No financial processing occurs until it is resolved.

• Closed: You can close an expired lease. Once a lease is closed, no financial processing can occur. The lease is stored in the system for historical reference only.

As the lease moves through various stages and as the status is updated, it triggers certain events in other areas of the application. Lease statuses determine the financial progress of a lease. Statuses also determine the various actions that you can take on a lease.

This table lists available actions and statuses that you can select for a lease based on the lease's current status listed in the left column:

Pages Used to Define General Information

Defining General Information

Access the Create New Lease - General Information page (Real Estate Management, Lease Administration, Payables Leases, Create New Lease, General Information).

Note. This page displays an example of validation and/or activation errors the system detected. To view and resolve the error, click the Go to Error link. Resolve by entering or replacing the values highlighted in red.

Lease Timetable

Lease Administration

Property Information

Property List

The Property List grid lists the properties that you select on the Property Search page.

Defining Lease Financial Terms

This section provides an overview of the lease financial terms and discusses how to:

• Define financial terms.

• Add base rent

• Add miscellaneous rent.

• Override accounting distributions.

We cover security deposit financial terms in the Setting Up Security Deposits chapter in this PeopleBook.

See Setting Up Security Deposits.

We cover operating expenses in the Setting Up Operating Expenses chapter in this PeopleBook.

See Setting Up Operating Expenses.

We cover percent rent in the Setting Up and Calculating Percent Rent chapter in this PeopleBook.

See Setting Up and Calculating Percent Rent.

Understanding Lease Financial Terms

Setting up the financial terms on a lease is critical to the overall processing of the lease. You can define the billing or payment frequency of rent, operating expenses, and miscellaneous rent. Establish recurring payments or invoices and specify the specific date that payments or invoices should be processed.

You can establish rent escalations that increase at specific date intervals throughout the life cycle of the lease. When adding base rent, you can set up a recurring invoice or payment. You can create rent escalations using a predefined index or standard stepped increase. The index escalation method typically can use the Consumer Price Index (CPI) or any other index to help determine the rent increase. Escalations usually occur on an annual basis with an optional defined maximum limit capacity.

With operating expenses, you can set maximum increases by amount or percent. As a tenant, you can audit those expenses annually to ensure continuity of spending. As a landlord, you can reconcile the operating expenses and bill or credit the difference to your tenants.

You can also set up a recurring schedule for miscellaneous rent. Recurring miscellaneous rent can include such items as monthly parking fees, administrative fees, and storage fees. You can establish a recurring schedule to reduce data entry redundancy.

You may have leases that are set up on a percent rent schedule, where the monthly rent is reduced in exchange for a portion of the tenant's sales. With percent rent schedule, you can upload tenant sales reports to determine the variable monthly rent the tenant pays.

See Setting Up and Calculating Percent Rent.

Proration Methods

PeopleSoft Real Estate Management enables you to calculate the prorated amount for recurring charges when the start date or end date of the recurring charges do not coincide with the calendar period start date or end date. PeopleSoft Real Estate Management supports two proration methods: 365 Days and 360 Days.

• 365 day proration:

  This method is based on the number of days in the calendar period, where the period can be weekly, monthly, quarterly, or yearly.

• 360 day proration:

  This is a 30 day month proration where the billing frequency can only be monthly with 30 days in each month.

The system applies these rules to the proration methods:

• The system uses the PeopleSoft calendar for all lease terms.

  You create calendars at the setID level by using the menu navigation Setup Financials/Supply Chain, Common Definitions, Calendars/Schedules.

  See Defining Accounting Calendars.

• The system uses the calendar to determine the start date and end date for the recurring transaction.

• The schedule and calendar frequencies must be the same.

For example, if base rent starts on January 11, 2007, the calendar is monthly and the schedule for payment is monthly (starting on the 15th each month). The term start date (January 11, 2007) does not correspond with the calendar period start date (January 1, 2007). The system performs proration for a period of 21 days (January 31 – January 11 = 21 days). The systems generates a bill for 21 days on January 15, 2007. At the end of the lease term for that recurring rent, if the end date also does not correspond with the calendar, then the system prorates the last payment.

The proration method applies to all recurring terms of the lease. The proration method defaults onto the lease from the business unit setup and you can change the method when the lease is in pending status. After you activate the lease, you must create an amendment to change the proration method.

When a financial term is defined with an escalation, the system considers the escalation only when the schedule date is greater than or equal to an escalation date. When calculating the prorated amount at end date of the financial term, the system first calculates the term schedule amount including any escalation and related boundaries, and then applies the proration ratio to deduct the prorated amount.

The calculation of the financial term schedule dates and related amounts is essentially the same as for activating a new term as it is for an amendment. The difference is in assessing what constitutes the true start date of the term. When an amendment is activated, the system finds the date of the last schedule generated to the transaction queue, deletes all existing schedules whose date is greater than that last generated date, and if the start date of the amended version of the term is greater than the end date of the calendar period for which transactions are already generated, then the new schedule is generated exactly like for a new term with possible application of the proration rule at term start date and term end date. If the start date of the amended version of the term is less than the end date of the calendar period for which transactions are already generated, the real start date of the amendment is the first day after the calendar period for which transactions are already generated schedule date greater than the last generated schedule date. Proration at start date is not applied but proration for the end date may be applied. If both the start and end dates of the amended term are prior to the last generated schedule date, then no new schedule is generated.

Pages Used to Define Financial Terms

Define Financial Terms

Access the Create New Lease - Financial Terms page (Real Estate Management, Lease Administration, Payables Leases, Create New Lease, Financial Terms).

Financial Summary

Schedule of Recurring Rent

Adding Base Rent

Access the Financial Terms - Base Rent Details page (click the Add Base Rent button on the Financial Terms page).

Start Date	Enter the date on which the base rent becomes effective. You must enter a date that occurs after the lease commencement date and before the end date. The default date is the lease commencement date.
End Date	Enter the date on which the base rent expires. You must enter a date that occurs after the start date and before the lease termination date. The default date is the lease termination date.
Payee	Enter the entity who receives the rent payments. The default value is the landlord from the lease. This field appears for only payables leases.
Ship To	Enter the vendor ship to location. This location will be used for VAT and SUT calculations by PeopleSoft Payables Voucher Build application. Applicable only for payables leases. If this is left blank, Voucher Build will populate the default ship to location for the vendor.
Payor	Enter the entity who makes the rent payments. The default value is the tenant from the lease. This field appears for only receivables leases.
Accounting Distributions	Click this link to access the Accounting Distributions page and override the business unit accounting rules distributions.
Amount	Enter the base rent amount that is charged periodically. You cannot enter a value that is 0.
Schedule	Select a value to specify how frequently rent transactions are generated. If the start and end date of the selected frequency differ from the start and end date of the base rent transaction, the system can optionally calculate a prorated transaction for the beginning and end of the term. The values that you have to select from, such as Monthly and Weekly, come from the Schedule component. See Understanding General Lease Information.
Terms Calendar	Enter the terms calendar, which determines the start date and end date of billing periods for the base rent. The calendar ID from the business unit definition appears by default. You can override this value, but the frequency of the schedule and terms calendar must be the same. This is a required field.

Rent Escalation

PeopleSoft Real Estate Management enables you to establish a lease with a base rent and rent escalations using two different calculation methods: stepped or index. The stepped method refers to setting up static increases in the rent at set dates, while the index method is based on the CPI or any other indexes that you define. By selecting these fields, you can establish the maximum amount or percentage that the base rent can escalate. Usually on a monthly basis, you can update the actual index values when the index reporting authorities change the values, thus affecting the variable index escalation.

The system calculates the escalation starting with the base rent amount that is valid for the date the calculation is being run. Then searches for any escalations on this base rent row. Then the system takes the most recent non-future row based on the escalation date, which provides which index to use. Lastly, the base rent amount is added to the percentage value of the index (Base Rent + (Base Rent × Index)). If the escalation (Base Rent × Index) exceeds the minimum and maximum specified for that row, then substitute those values (use Minimum if it has not been reached, use Maximum if it has been exceeded).

Rent Escalation Schedule – Escalation Type: Index

When you select Index in the Escalation Type field, define the following fields:

Rent Escalation Schedule – Escalation Type: Stepped

The stepped method enables you to establish multiple rent escalations throughout the life cycle of the lease. You can insert multiple rows of data. Upon the new start date, the new rent amount becomes the effective date. The escalation amount is added to the base rent upon the new start date; the escalation amount is not cumulative.

For example, the base rent is $5000.00, and the stepped rent escalations for 5 years is set at $500.00 per year. To set up the rent escalation schedule, you insert 5 rows: the first row escalation amount is $500.00; the second row beginning the second year is $1000.00 (first year $500.00 + second year $500.00 = second year escalation amount $1000.00); the third year, the amount is $1500.00; and so on (see table below).

Here's an example of a stepped rent escalation (base rent = $5000.00, rent increase $500.00 per year for 5 years):

Warning! The Escalation Amount is not cumulative. You must adjust the amount incrementally for every year.

When you select Stepped in the Escalation Type field, define the following fields:

Escalation Amount

Enter the fixed escalation amount for base rent.

Adding Miscellaneous Rent

Access the Financial Terms - Miscellaneous Rent Details page (click the Add Miscellaneous Rent button on the Financial Terms page).

Many of the fields on the Miscellaneous Rent Details page are the same as the fields on the Base Rent Details page This section contains the additional field.

Overriding Accounting Distributions

Access the Accounting Distributions page for each financial term (Click the Accounting Distributions link on the Base Rent Details, Operating Expense Details, Miscellaneous Details, Percent Rent Details or Security Deposit Details pages.

The Accounting Distribution pages for each of the financial terms are identical.

The fields on this page differ depending upon the distribution selected. When you select a value other than None, the ChartField values become available for edit.

Defining Lease Clauses

This section provides an overview of lease clauses, lists a prerequisite, and discusses how to define lease clauses.

Understanding Lease Clauses

A lease agreement contains an enormous amount of data that is relevant to the lease administrator, such as financial terms, special clauses, options, and legal terms. Because of the numerous varieties of data, efficient capture of these important terms is difficult.

Lease clauses typically represent legal terms in the lease agreement that provide certain rights to either the tenant or the landlord. You must keep this information easily accessible because you are likely to use it frequently over the course of the lease. Although clauses are meant to capture all of your lease agreement information not otherwise stored in the Lease Administration feature, there is no processing on any of the data that you enter here. It is provided for reporting purposes. Changes to a clause or additional clauses on an active lease require an amendment.

With lease clauses, you can select the clause types and clause sub types to capture and track this information and enter additional related information in a free-form text field. Clause types and sub types enable you to reduce data entry redundancy and also logically categorize the information that you capture. For example, if you have a clause type of Parking and a clause sub type of Allocated Spaces, you can further define the clause with the actual number of parking spaces allocated to the lease. You can also incorporate specific sections of a lease in the Reference field for each clause that you enter, enabling quick reference to the actual terms within a lease.

Note. User defined fields appear on this page to capture additional information unique to your organization. You must first set up these field in the setup component.

See Understanding User-Defined Fields.

Prerequisite

Before adding lease clauses, you must set up the clause types.

See Defining Clause Types.

Pages Used to Define Lease Clauses

Define Lease Clauses

Access the Clauses page (Real Estate Management, Lease Administration, Payables Leases, Create New Lease, Clauses).

Clause Type	Click the link under Clause Type to display the clause details previously defined in lease maintenance.
User Defined Fields	Enter the data you want captured for reporting purposes. These fields are defined during implementation to enable you to capture additional information specific to your organization. See Understanding User-Defined Fields.

Add Clause Details

Access the Clauses - Clause Details page (click the link under Clause Type on the Clauses page).

Clause Type and Clause Subtype	Enter the clause type and subtype. You can select only the subtype associated with the clause type that you define. Note. The clause type and clause subtype has a parent-child relationship. You cannot enter a clause subtype without first entering a clause type.
Track Compliance	Select this checkbox to track the compliance of this clause.
Status	Specify the status of this clause: Complete In Progress Incomplete
Deadline	Enter the deadline for terms to be met.
Action	Select what action should be taken if terms are not met: Notify Only Notify and Dispute Lease Notify and Hold Transactions

Adding Notes and Attachments

Over the life of a lease, there may be many conversations and correspondences that relate to the lease. The Notes tab within the lease provides a mechanism to record activity history on this lease, similar to a call log. You can record notes at anytime against a lease, except when the lease is cancelled or closed . When adding notes, you can optionally attach files into the database. You can use this feature to attach a soft copy of the lease agreement itself, an amendment, and other related documentation. After you save a note, you cannot amend it.

This section discusses how to add notes and attachments to a lease.

Pages Used to Add Notes and Attachments

Add Notes and Attachments

Access the Notes page (Real Estate Management, Lease Administration, Payables Leases, Create New Lease, Notes).

Search for Notes

You can add new notes to a lease or use the Search for Notes group box to locate a specific note already recorded against this lease. This is because over the life of a lease there is a chance that there could be hundreds of notes recorded.

Note. You cannot use the search fields when creating a new lease.

Notes Group Box

Displays notes that you entered throughout the lease life cycle. You can only view the list of notes previously created.

Add Note Details

Access the Notes - Note Detail page (click the Add Notes button on the Notes page).

Load Attachment

Click this button to upload documents, letters, or drawings associated with this note. Once an attachment is loaded you can delete it or view it. See Defining an FTP Server for Document Attachments.

Reviewing Basic Lease Information

This section discusses how to review leases.

Pages Used to Review Basic Lease Inquiries

Reviewing Leases

Access the Basic Lease Information page (Real Estate Management, Lease Administration, Payables Lease, Lease Inquiry).

This page provides a simple online inquiry of basic lease information for a reviewing a lease. This inquiry page provides you with a summary of the lease terms and financial summary of that lease.

Managing My Lease Portfolio

This section discusses how to manage my lease portfolio.

PeopleSoft Real Estate Management provides a personalized page for viewing all leases assigned to you, as lease administrator or portfolio manager. You can add additional leases, not assigned to you, to your portfolio by clicking on the Add to My Portfolio link.

Page Used to Manage My Lease Portfolio

Managing My Lease Portfolio

Access My Lease Portfolio page (Real Estate Management, Lease Administration, Payables Lease, Lease Inquiry).

Add to My Lease Portfolio

Click to add additional leases to your portfolio. You can add additional leases that are not assigned to you to your portfolio to help in managing workload for the other lease administrators or portfolio managers.

Adding Leases to My Portfolio

Access the Add to My Portfolio page (click the Add to My Lease Portfolio link on the My Lease Portfolio page).