Lease Payment

A Lease Payment record is autogenerated 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. The Lease Payment is then routed for review and approval.

Lease BP Payment Schedule

Changes to Lease Payment Terms are 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
04/01/2025	04/30/2025	04/01/2025	GTO	$1,000.00	$1,000.00
05/01/2025	05/31/2025	05/01/2025	GTO	$1,000.00	$1,000.00
06/01/2025	06/30/2025	06/01/2025	GTO	$1,000.00	$1,000.00
07/01/2025	07/31/2025	07/01/2025	GTO	$1,000.00	$1,000.00
08/01/2025	08/31/2025	08/01/2025	GTO	$1,000.00	$1,000.00
09/01/2025	09/30/2025	09/01/2025	GTO	$1,000.00	$1,000.00
10/01/2025	10/31/2025	10/01/2025	GTO	$1,000.00	$1,000.00
11/01/2025	11/30/2025	11/01/2025	GTO	$1,000.00	$1,000.00
12/01/2025	12/31/2025	12/01/2025	GTO	$1,000.00	$1,000.00
01/01/2026	01/31/2026	01/01/2026	GTO	$1,000.00	$1,000.00
02/01/2026	02/28/2026	02/01/2026	GTO	$1,000.00	$1,000.00
03/01/2026	03/31/2026	03/01/2026	GTO	$1,100.00	$1,100.00	First year escalation
04/01/2026	04/30/2026	04/01/2026	GTO	$1,100.00	$1,100.00
05/01/2026	05/31/2026	05/01/2026	GTO	$1,100.00	$1,100.00
06/01/2026	06/30/2026	06/01/2026	GTO	$1,100.00	$1,100.00
07/01/2026	07/31/2026	07/01/2026	GTO	$1,100.00	$1,100.00
08/01/2026	08/31/2026	08/01/2026	GTO	$1,100.00	$1,100.00
09/01/2026	09/30/2026	09/01/2026	GTO	$1,100.00	$1,100.00
10/01/2026	10/31/2026	10/01/2026	GTO	$1,100.00	$1,100.00
11/01/2026	11/30/2026	11/01/2026	GTO	$1,100.00	$1,100.00
12/01/2026	12/31/2026	12/01/2026	GTO	$1,100.00	$1,100.00
01/01/2027	01/31/2027	01/01/2027	GTO	$1,100.00	$1,100.00
02/01/2027	02/28/2027	02/01/2027	GTO	$1,100.00	$1,100.00
03/01/2027	03/31/2027	03/01/2027	GTO	$1,210.00	$1,210.00	Second year escalation
04/01/2027	04/30/2027	04/01/2027	GTO	$1,210.00	$1,210.00
05/01/2027	05/31/2027	05/01/2027	GTO	$1,210.00	$1,210.00
06/01/2027	06/30/2027	06/01/2027	GTO	$1,210.00	$1,210.00
07/01/2027	07/31/2027	07/01/2027	GTO	$1,210.00	$1,210.00
08/01/2027	08/31/2027	08/01/2027	GTO	$1,210.00	$1,210.00
09/01/2027	09/30/2027	09/01/2027	GTO	$1,210.00	$1,210.00
10/01/2027	10/31/2027	10/01/2027	GTO	$1,210.00	$1,210.00
11/01/2027	11/30/2027	11/01/2027	GTO	$1,210.00	$1,210.00	Index Rate switched or rate changed (27 November 2023)
12/01/2027	12/31/2027	12/01/2027	GTO	$1,210.00	$1,210.00
01/01/2028	01/31/2028	01/01/2028	GTO	$1,210.00	$1,210.00
02/01/2028	02/29/2028	02/01/2028	GTO	$1,210.00	$1,210.00
03/01/2028	03/31/2028	03/01/2028	GTO	$1,331.00	$1,452.00	Third year escalation
04/01/2028	04/30/2028	04/01/2028	GTO	$1,331.00	$1,452.00
05/01/2028	05/31/2028	05/01/2028	GTO	$1,331.00	$1,452.00
06/01/2028	06/30/2028	06/01/2028	GTO	$1,331.00	$1,452.00
07/01/2028	07/31/2028	07/01/2028	GTO	$1,331.00	$1,452.00
08/01/2028	08/31/2028	08/01/2028	GTO	$1,331.00	$1,452.00
09/01/2028	09/30/2028	09/01/2028	GTO	$1,331.00	$1,452.00
10/01/2028	10/31/2028	10/01/2028	GTO	$1,331.00	$1,452.00
11/01/2028	11/30/2028	11/01/2028	GTO	$1,331.00	$1,452.00
12/01/2028	12/31/2028	12/01/2028	GTO	$1,331.00	$1,452.00
01/01/2029	01/31/2029	01/01/2029	GTO	$1,331.00	$1,452.00
02/01/2029	02/28/2029	02/01/2029	GTO	$1,331.00	$1,452.00
03/01/2029	03/31/2029	03/01/2029	GTO	$1,464.10	$1,742.40	Fourth year escalation
04/01/2029	04/30/2029	04/01/2029	GTO	$1,464.10	$1,742.40
05/01/2029	05/31/2029	05/01/2029	GTO	$1,464.10	$1,742.40
06/01/2029	06/30/2029	06/01/2029	GTO	$1,464.10	$1,742.40
07/01/2029	07/31/2029	07/01/2029	GTO	$1,464.10	$1,742.40
08/01/2029	08/31/2029	08/01/2029	GTO	$1,464.10	$1,742.40
09/01/2029	09/30/2029	09/01/2029	GTO	$1,464.10	$1,742.40
10/01/2029	10/31/2029	10/01/2029	GTO	$1,464.10	$1,742.40
11/01/2029	11/30/2029	11/01/2029	GTO	$1,464.10	$1,742.40
12/01/2029	12/31/2029	12/01/2029	GTO	$1,464.10	$1,742.40
01/01/2030	01/31/2030	01/01/2030	GTO	$1,464.10	$1,742.40
02/01/2030	02/28/2030	02/01/2030	GTO	$1,464.10	$1,742.40
03/01/2030	03/31/2030	03/01/2030	GTO	$1,610.51	$2,090.88	Fifth year escalation
04/01/2030	04/30/2030	04/01/2030	GTO	$1,610.51	$2,090.88
05/01/2030	05/31/2030	05/01/2030	GTO	$1,610.51	$2,090.88
06/01/2030	06/30/2030	06/01/2030	GTO	$1,610.51	$2,090.88
07/01/2030	07/31/2030	07/01/2030	GTO	$1,610.51	$2,090.88
08/01/2030	08/31/2030	08/01/2030	GTO	$1,610.51	$2,090.88
09/01/2030	09/30/2030	09/01/2030	GTO	$1,610.51	$2,090.88
10/01/2030	10/31/2030	10/01/2030	GTO	$1,610.51	$2,090.88
11/01/2030	11/30/2030	11/01/2030	GTO	$1,610.51	$2,090.88
12/01/2030	12/31/2030	12/01/2030	GTO	$1,610.51	$2,090.88
01/01/2031	01/31/2031	01/01/2031	GTO	$1,610.51	$2,090.88
02/01/2031	02/28/2031	02/01/2031	GTO	$1,610.51	$2,090.88

See Also