Lease Management Window - WebTMA 5

Path: Organization > Buildings > Lease Management / Identity Tab

For tenant lease records, mark the Payable radio button on the Lease Management window and record information about your lease. This assures you have details about the lease at your fingertips and allows you to record and track lease payments, due date, amendments, and other information about the lease.

For landlord lease records, mark the Receivable radio button on the Lease Management window to enter information that is used to generate monthly invoices. These invoices can also include additional billing from work performed by the landlord and charged to the tenant if recorded on the Responsibilities Subtab and assigned to a WebTMA work order.

How to Create Lease Records

While the only required field for a Payable lease record is the Lease #, complete as many of the elective fields as reasonable to make this a useful reference.

1. Go to Organization > Building > Lease Management.
2. Click Add on the WebTMA toolbar.
3. Enter the Lease #, a unique identifier for the lease.
4. Mark the desired radio button, Payable or Receivable.
5. Complete as many elective fields as needed. See the field definitions described on page 3 for more information.
6. Click Save on the WebTMA toolbar

Associated topics discuss the various Tabs and Subtabs on this window that add more information about the lease.

Lease Dates Subtab

Path: Organization > Buildings > Lease Management / Identity Tab–Lease Dates

Use the fields on this Subtab to record the various dates that apply to this lease as outlined in the lease agreement.

NOTE: If this is a Receivable record, be certain to complete the Lease Start and Rent Due Date fields. Unless values are entered in these fields, Current Status lines cannot be saved on the Schedules Tab, which prevents invoice generation.

Brokers Subtab

The Brokers Subtab displays a grid populated with Broker records associated with the Lease. Brokers available for selection are created from the Material / Vendors window when the Broker check box is marked.

To add brokers to the lease in Add or Edit mode:

1. Click the Add Broker link at the top of the grid to open the Broker Entry
2. Select a Broker. The names available are those marked as Broker in Material > Vendor.
3. Click the icon next to the ellipsis button to open the Vendor Address Popup.
4. Double-click the desired address associated with the Broker.
5. Complete the elective fields as appropriate.
6. Click the Save button on the popup.
7. Click Save on the WebTMA toolbar.

Amendments Subtab

The Amendments Subtab displays a grid populated with Amendment records associated with the property.

To add amendments to the lease in Add or Edit mode:

1. Click the Add Amendment link at the top of the grid to open the Amendment Entry
2. Enter the required Amendment #, Amendment Date, and Modification
3. Complete as many elective fields as needed.
4. Click the Save button on the popup.
5. Click Save on the WebTMA toolbar.

Appraisals Subtab

The Appraisals Subtab displays a grid populated with appraised values associated with the Lease.

To add appraisals to the lease in Add or Edit mode:

1. Click the Add Appraisal link at the top of the grid to open the Appraisal Entry
2. Enter the required Appraisal Date.
3. Complete as many elective fields as available. You can always edit the record later as more information is reported.
4. Click the Save button on the popup.
5. Click Save on the WebTMA toolbar.

Estimates Subtab

The Estimates Subtab displays a grid populated with estimated values associated with the Lease. Typically these come from authorized appraisers.

To add estimates to the lease in Add or Edit mode:

1. Click the Add Estimates link at the top of the grid to open the Estimate Entry
2. Enter the required Estimate Date.
3. Complete as many elective fields as available.
4. Click the Save button on the popup.
5. Click Save on the WebTMA toolbar.

Tax Subtab

The Tax Subtab displays a grid populated with tax payments associated with the Lease.

To add taxes to the lease in Add or Edit mode:

1. Click the Add Tax link at the top of the grid to open the Tax Entry
2. Enter the required Tax Year and Tax Amount.
3. Enter the Payment Dates and Payment Amounts when made.
4. Click the Save & Close
5. Click Save on the WebTMA toolbar.

Responsibilities Subtab

The Responsibilities Subtab displays a grid populated with tasks associated with the Lease that are attributable either to the Landlord or the Tenant. For Receivable leases, these are tied to the related work orders. If the work order is closed and the line item is marked as Tenant Responsibility and Chargeable, WebTMA adds the WO charges to the invoice.

For Payable leases, a check mark in the Chargeable field is for information only.

To add responsibilities to the lease in Add or Edit mode:

1. Click the Add Responsible Party link at the top of the grid to open the Responsibility Entry
2. Click the radio button to determine Landlord Responsibility or Tenant Responsibility.
3. Enter the required Task Code.
4. Complete as many elective fields as needed.
5. Click the Save button on the popup.
6. Click Save on the WebTMA toolbar.

Punch List Subtab

The Punch List Subtab displays a grid populated with punch list items associated with the Lease. The window also accommodates a record of the 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.

To add responsibilities to the lease in Add or Edit mode:

1. Click the Add Punch link at the top of the grid to open the Punch Entry
2. Enter the required Punch List Item.
3. Complete as many elective fields as needed.
4. Click the Save button on the popup.
5. Click Save on the WebTMA toolbar.

Punch List Work Orders

Path: Organization > Buildings > Lease Management / Identity Tab–Punch List Subtab

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 second column. Click the link to automatically open the Single Task Work Order window and create a work order for the Punch List item.

If a work order already exists for the line item, you can click the Work Order # in the first column to zoom to the work order.

Abstract Tab

Use the text field in the Abstract Tab 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 Tab, you have critical lease details at your fingertips.

Options Tab

The Options Tab lists any lease options you have negotiated.

In Edit mode:

1. Click the Add Item link at the top of the grid to open the Lease Option Entry popup window.
2. Select the Option Type. The Types are set up in Organization > Lookups > Lease Option Type.
3. Complete the elective fields that apply.
4. Click the Save button on the popup.
5. Click Save on the WebTMA toolbar.

Budget & Receivable Tab

Path: Organization > Buildings > Lease Management / Budget & Receivable Tab

The Budget & Receivable Tab displays budget data for Payable leases and Receivable Data for Receivable Leases. All entries on this window are for information only and can be used as needed for the landlord's records.

Complete as many of the fields as needed for your records.

Lease Schedules Tab

Path: Organization > Buildings > Lease Management / Schedules Tab

The Schedules Tab only applies to Receivable leases. It is similar to a PM Schedule, but instead of generating work orders, it generates invoices. IMPORTANT: Be certain you have completed the Lease Start and Rent Due Date fields on the Lease Management / Identity Tab–Lease Dates Subtab. Unless completed, Current Status lines cannot be saved to the Schedules Tab.

Enter annual values in the Base Rent, Operating Expenses, Execution Cost, Other Payments, Real Property Tax, and Other Tax. WebTMA then looks to the Payment Frequency for invoicing. For example, if the Base Rent equals $12,000 and the Payment Frequency is Monthly, each invoice is calculated as 12000/12=1000 plus or minus additional values entered in the Calculations sections.

The Start Date, Next Date, and End Date are similar to PM dates. The Other Payments field creates a deduction and reduces the Lease Amount.

To add a Lease Schedule for a Receivable lease:

1. Click Edit on the WebTMA toolbar.
2. Click the Add Line link at the top of the grid.
3. Complete the required fields.
4. Add any elective field information as needed. Note the Other Payments field in Rent Calculations acts as a credit and reduces the Lease Amount.
5. Click the Save & Close
6. Click Save on the WebTMA toolbar.

Stakeholders Tab

Path: Organization > Buildings > Lease Management / Stakeholders Tab

Add the names and contact information for anyone with an involvement in the Lease.

Income Distribution Tab

Path: Organization > Buildings > Lease Management / Income Distribution Tab

The Income Distribution Tab displays a list of accounts associated with the Lease and amounts and percentages of the fund distributions to each account.

When in Edit mode, you can edit the Sequence, percentage of Distribution, and actual Amount of funds.

The percentage (Distribution column) of all lines must total 100%. If you attempt to save the record with a total less than or greater than 100%, a message pops up stating: "Account distribution percentages are out-of-balance. Would you like to distribute them evenly?"

Click OK to have WebTMA change the Distribution percentages and make all equal.

Click Cancel to make your own adjustments to the distributions.

Regardless of the method, the Distribution must equal 100% before the record can be saved.

You can Edit, Delete, or Add lines; however, the Distribution total must equal 100% before you can save.

The distribution amounts are used on the Accounting > Accounts Receivable Invoice > Lease Invoice Payment window as the Distribute Payment Due values.