Lease Termination

The 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:

• The original lease agreement is marked “Terminated” and no further payment or invoice processes are autogenerated from this release record.
• The Occupancy Status of the Space record associated with this lease agreement is updated to a “Vacant” status.