Understanding Lease Option Type Standards

If you use legal clauses to track information, you can use the Lease Option Type Information (P157011) program to create lease options to use as a template. You can set up options for each lease type that you use, or for specific tenants, but not for both. For example, you might offer an option for parking on commercial leases that you do not offer on leases for restaurants. Option types include lease details such as mortgage information, options to renew, lease terms, right of first refusal, and insurance information. You can define these options as standard for a tenant or a lease type.

The system stores lease option type information in the Lease Option Type Header (F157011) and Lease Option Type Detail (F157012) tables.