Path: Organization > Lease Management > Records / Identity Tab
The Lease Management window has numerous Sections to accommodate the possible needs of both Landlord and Tenant.
General Information Section
Path: Organization > Lease Management > Records
For Landlord Lease records, mark the Receivable check box on the Lease window to enter information that is used to generate monthly invoices. These invoices can also include additional billing for work performed by the Landlord and charged to the Tenant if recorded in the Responsibilities Section and assigned to a WebTMA Work Order.
For Tenant Lease records, mark the Payable check box on the Lease Management window and record information about the Lease. This assures you have details about the Lease at your fingertips and allows you to record and track payments, due date, amendments, and other information about the Lease.
How to Create Lease Records
While the only required field for a lease record is the Lease #, complete as many of the elective fields as reasonable to make this a useful reference. Click the headings below to learn about the different Lease window Sections and field definitions.
Go to Organization > Lease Management > Records.
Click Add on the WebTMA toolbar.
Enter the Lease #, a unique identifier for the lease.
Mark the desired check box, Payable or Receivable.
Complete as many elective fields as needed. See the Section topics below.
Click Save on the WebTMA toolbar
Contact Information Section
The read-only fields in this Section are automatically populated with information from the Tenant/Landlord window.
The Brokers Section displays a grid populated with Broker records associated with the Lease to record Listing and Commission information. Brokers available for selection are created using the Organization > Vendors window.
In Add or Edit mode, click the Add Broker link above the grid to open the Broker Entry flyout. Address information entered from the Vendors window populates the appropriate fields .
The Amendments Section displays a grid populated with information about Amendment records associated with the Lease.
In Add or Edit mode, click the Add Amendment link above the grid to open the Amendment Entry flyout. Lease Modification Codes are established in Lookups > Lease Modifications.
The Appraisals Section displays a grid populated with appraised values and details about the Appraiser associated with the Lease. Click the Add Appraisal link on the grid to open the Appraisal Entry flyout.
The Estimates Section displays a grid populated with estimated values associated with the Lease. Typically these come from authorized appraisers.
The Tax Section displays a grid populated with tax payments associated with the Lease.
Click the Add Tax link to open the Tax Entry flyout and enter the available information.
The Responsibilities Section displays a grid populated with Tasks associated with the Lease that are attributable either to the Landlord or the Tenant. For Receivable Leases, these Tasks are tied to related Work Orders. If the Work Order is closed and the line item is marked as Tenant Responsibility and Chargeable, WebTMA adds the Work Order charges to the invoice.
For Payable leases, a check mark in the Chargeable field is for information only.
Click the Add Responsible Party link to open the Responsibility Entry flyout and add information about the Responsibilities.
Punch List Section
The Punch List Section displays a grid populated with punch list items associated with the Lease. The Section also accommodates a record of the estimated cost to correct the item and the date of correction. On Payable leases, this is for information only. On Receivable leases, these are items the Landlord is required to fix.
Click the Add Punch link at the top of the grid to add responsibilities to the lease in Add or Edit mode.
Once you have added Punch List line items to the grid, you have the option to generate a Work Order for the job.
In View mode, a Generate WO link displays in the first column of the Punch List grid. Click the link to automatically open the Work Order window and create a Work Order for the Punch List item.
If a Work Order already exists for the line item, the Work Order # displays in the second column.
Use the text field in the Abstract Section to type or copy essential financial, business, and legal information about your Lease. Be sure to include any unusual Lease provisions, financial obligations, or other important issues.
With a completed Abstract Section, you have critical lease details at your fingertips.
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