Lease Payments
Lease Payments are auto-generated from the lease record of type Tenant. They are typically payment requests sent out to lease administration groups at the tenant's organization who are responsible for processing lease payments to landlords. Lease Payment requests can be for Rent, Utilities, CAM, Insurance, or other types of charges.
The Lease Payment record has a reference to the lease record that generated it, and line items are automatically populated with the relevant charge type and amount. Lease Payments are then routed for review and approval.
Lease BP Payment Schedule
Changes to Lease Payment Terms will be always applied on future payment schedules, starting from the first payment of the next term, depending on the term type and length. The change in escalation rate or value can happen in two ways:
- Line Item: Change the escalation value or switch the Index Rate picker record on the line item.
- Index Rate BP: Change the rate value on the source Index Rate BP record in the Company workspace.
The following shows an example:
Lease (Payment Setup) Details
Field | Example |
|---|---|
Start date | 03/01/2021 |
End date | 02/01/2027 |
Payment Frequency | Monthly |
Initial Amount | $1,000.00 |
Payment Due Day | 1 |
Latest Payment Due Day | 1 |
Payment Notice Lead Time | 10 |
Escalation Method | Index Rate |
Escalation Frequency Term Type | Yearly |
Escalation Frequency Term Length | 1 |
Lease Payment Schedule
Start Date | End Date | Due Date | Payment Type | Amount (with initial Index Rate 10) | Amount (with new Index Rate 20, switched on 27th Nov, 2023) | Yearly escalation |
|---|---|---|---|---|---|---|
03/01/2021 | 03/31/2021 | 03/01/2021 | GTO | $1,000.00 | $1,000.00 | Start of Lease |
04/01/2021 | 04/30/2021 | 04/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
05/01/2021 | 05/31/2021 | 05/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
06/01/2021 | 06/30/2021 | 06/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
07/01/2021 | 07/31/2021 | 07/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
08/01/2021 | 08/31/2021 | 08/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
09/01/2021 | 09/30/2021 | 09/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
10/01/2021 | 10/31/2021 | 10/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
11/01/2021 | 11/30/2021 | 11/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
12/01/2021 | 12/31/2021 | 12/01/2021 | GTO | $1,000.00 | $1,000.00 |
|
01/01/2022 | 01/31/2022 | 01/01/2022 | GTO | $1,000.00 | $1,000.00 |
|
02/01/2022 | 02/28/2022 | 02/01/2022 | GTO | $1,000.00 | $1,000.00 |
|
03/01/2022 | 03/31/2022 | 03/01/2022 | GTO | $1,100.00 | $1,100.00 | First year escalation |
04/01/2022 | 04/30/2022 | 04/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
05/01/2022 | 05/31/2022 | 05/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
06/01/2022 | 06/30/2022 | 06/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
07/01/2022 | 07/31/2022 | 07/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
08/01/2022 | 08/31/2022 | 08/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
09/01/2022 | 09/30/2022 | 09/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
10/01/2022 | 10/31/2022 | 10/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
11/01/2022 | 11/30/2022 | 11/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
12/01/2022 | 12/31/2022 | 12/01/2022 | GTO | $1,100.00 | $1,100.00 |
|
01/01/2023 | 01/31/2023 | 01/01/2023 | GTO | $1,100.00 | $1,100.00 |
|
02/01/2023 | 02/28/2023 | 02/01/2023 | GTO | $1,100.00 | $1,100.00 |
|
03/01/2023 | 03/31/2023 | 03/01/2023 | GTO | $1,210.00 | $1,210.00 | Second year escalation |
04/01/2023 | 04/30/2023 | 04/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
05/01/2023 | 05/31/2023 | 05/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
06/01/2023 | 06/30/2023 | 06/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
07/01/2023 | 07/31/2023 | 07/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
08/01/2023 | 08/31/2023 | 08/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
09/01/2023 | 09/30/2023 | 09/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
10/01/2023 | 10/31/2023 | 10/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
11/01/2023 | 11/30/2023 | 11/01/2023 | GTO | $1,210.00 | $1,210.00 | Index Rate switched or rate changed (27 November 2023) |
12/01/2023 | 12/31/2023 | 12/01/2023 | GTO | $1,210.00 | $1,210.00 |
|
01/01/2024 | 01/31/2024 | 01/01/2024 | GTO | $1,210.00 | $1,210.00 |
|
02/01/2024 | 02/29/2024 | 02/01/2024 | GTO | $1,210.00 | $1,210.00 |
|
03/01/2024 | 03/31/2024 | 03/01/2024 | GTO | $1,331.00 | $1,452.00 | Third year escalation |
04/01/2024 | 04/30/2024 | 04/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
05/01/2024 | 05/31/2024 | 05/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
06/01/2024 | 06/30/2024 | 06/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
07/01/2024 | 07/31/2024 | 07/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
08/01/2024 | 08/31/2024 | 08/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
09/01/2024 | 09/30/2024 | 09/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
10/01/2024 | 10/31/2024 | 10/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
11/01/2024 | 11/30/2024 | 11/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
12/01/2024 | 12/31/2024 | 12/01/2024 | GTO | $1,331.00 | $1,452.00 |
|
01/01/2025 | 01/31/2025 | 01/01/2025 | GTO | $1,331.00 | $1,452.00 |
|
02/01/2025 | 02/28/2025 | 02/01/2025 | GTO | $1,331.00 | $1,452.00 |
|
03/01/2025 | 03/31/2025 | 03/01/2025 | GTO | $1,464.10 | $1,742.40 | Fourth year escalation |
04/01/2025 | 04/30/2025 | 04/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
05/01/2025 | 05/31/2025 | 05/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
06/01/2025 | 06/30/2025 | 06/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
07/01/2025 | 07/31/2025 | 07/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
08/01/2025 | 08/31/2025 | 08/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
09/01/2025 | 09/30/2025 | 09/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
10/01/2025 | 10/31/2025 | 10/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
11/01/2025 | 11/30/2025 | 11/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
12/01/2025 | 12/31/2025 | 12/01/2025 | GTO | $1,464.10 | $1,742.40 |
|
01/01/2026 | 01/31/2026 | 01/01/2026 | GTO | $1,464.10 | $1,742.40 |
|
02/01/2026 | 02/28/2026 | 02/01/2026 | GTO | $1,464.10 | $1,742.40 |
|
03/01/2026 | 03/31/2026 | 03/01/2026 | GTO | $1,610.51 | $2,090.88 | Fifth year escalation |
04/01/2026 | 04/30/2026 | 04/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
05/01/2026 | 05/31/2026 | 05/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
06/01/2026 | 06/30/2026 | 06/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
07/01/2026 | 07/31/2026 | 07/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
08/01/2026 | 08/31/2026 | 08/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
09/01/2026 | 09/30/2026 | 09/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
10/01/2026 | 10/31/2026 | 10/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
11/01/2026 | 11/30/2026 | 11/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
12/01/2026 | 12/31/2026 | 12/01/2026 | GTO | $1,610.51 | $2,090.88 |
|
01/01/2027 | 01/31/2027 | 01/01/2027 | GTO | $1,610.51 | $2,090.88 |
|
02/01/2027 | 02/28/2027 | 02/01/2027 | GTO | $1,610.51 | $2,090.88 |
|
See Also
Real Estate: Leases Management
Common Area Maintenance (CAM) Reconciliation
Leases Management Business Processes (BPs)
Leases Management User-Defined Reports (UDRs)
Last Published Tuesday, December 17, 2024