Lease Info Page 1

Tenant

Enter the address book number of the tenant or lessor.

Lease Manager

Enter the address book number of a manager or planner.

You can set up the default values in the Work With Work Order Default Codes program (P48001). After you set up the default values and the processing option, the default information displays automatically on any work orders that you create if the category code criterion is met. You can either accept or override the default value.

Alt. Payee (alternate payee)

Enter the address book number of the person or company who is responsible for payment of rent and charges that are related to the lease. This payee number might not be the same number as the tenant.

If you leave this field blank, the system uses the value of the Factor/Special Payee field that is assigned to the tenant's address book record.

Payment Source

Enter the address book number of the person or company that submits payment for the rent or other charges that are related to the lease. This field is used for informational and reporting purposes only.

Lease Type

Enter a user-defined code from UDC table 15/LT that specifies the type of lease. Examples include:

AP: Apartment

CO: Commercial office

RT: Retail

SL: Speculative lease

Lease Status

Enter a user-defined code from UDC table 15/LS that specifies the status of the lease for billing and reporting purposes. Examples include:

E: Expired

N: Negotiated

L: Litigation

Note: The letter X in the first position of the Description 2 field indicates that the lease is non-billable. The letter O indicates that the lease is open-ended.

Payment Terms

Enter a value that indicates the default payment terms for a customer. Payment terms determine the due date, discount amount, and discount due date that the system assigns when you create an invoice. Use a blank code for the payment terms that you use most frequently. Examples of payment terms include:

Blank: Net 15.

1: 1/10 net 30.

2: 2/10 net 30.

D: Due upon receipt.

N: Net 30.

P: Prox 25th.

Term of Lease

Enter a value that specifies the length of the new assumption.