Lease Termination process is used to end or terminate a lease agreement. Once initiated, and the termination justification is provided, the process is routed for review and approval.
Once approved, multiple events take place a s a result of that:
- The original lease agreement is marked “Terminated” and no further payment or invoice processes will be auto-generated from this release record
- The Occupancy Status of the Space record associated with this lease agreement will be updated to “Vacant” status.