Lease Home - My Actions

Modified on Tue, 3 Mar at 12:50 AM

Create New Lease

The Create New Lease tile is accessible under My Actions section on the Lease Home screen. This feature is designed to use six predefined templates which essentially cover the same tabs where the end-user will be further managing their data once the Lease record is created and approved. Each template consists of a few of the same labels that are captured throughout each of the respective tabs found throughout the lease module.

Basic Lease Information

Critical Dates and Options

Rent and Expenses

Key Clauses

Contacts

Documents

Lease Abstract Approvals

Newly created Lease records may be approved by clicking on the Lease Abstract Approvals tile under My Actions section. This opens a new tab displaying a list of all Lease records awaiting approval.

User with [Lease Manager] or [Lease Director] role will be able to approve or reject invoices.

Generate Rent Roll

Click on the Generate Rent Roll tile to create a periodic rent roll for expense leases via active rent streams created in the Recurring Costs tab. The rent generated will be copied to the Lease Payments > Basic tab of the Lease application and will appear in the Batch Rent available for processing.

Generate Billings

Click on the General Billings tile to create a periodic rent roll for income leases via active rent streams created in the Recurring Costs tab. The rent generated will be copied to the Receivables > Charge Info tab of the Lease application and will appear in the Batch Rent available for processing.

Batch Rent

Clicking on the Batch Rent tile will open a new tab allowing the user to batch and post recurring rent costs, single Lease payments and/or billings.

Upcoming Expirations

Clicking on the Upcoming Expirations tile will open a new tab displaying a list of upcoming lease expiration dates that fall within 90 days from the selected ‘Expiring To’ date along with a count of the number of renewals remaining.

Upcoming Rent Changes

Clicking on the Upcoming Rent Changes tile will open a new tab displaying a list of all leases whose rent are changing within 90 days from the selected ‘Rent Effective To’ date along with their period amount and the total obligation remaining.

Upcoming Options

Clicking on the Upcoming Options tile will open a new tab displaying a list of all leases with options that have notice dates that fall within 90 days from the selected ‘Final Notice Date’.

Note: The list will include options associated to any option status; therefore, in the "Option Status" search field, click on the arrow to open the List of Values (LOV) and select a value, i.e. "Available" and then click the Search icon to retrieve the records which match the chosen LOV.

Upcoming Reconciliations

Clicking on the Upcoming Reconciliations tile will open a new tab displaying a list of all leases identified as having annual expense reconciliations that are either under review or have not yet been received. The list will be driven based on the selected invoice bill due date <= 60 days from the current date. The Due Date is calculated based on the end date of the reconciliation period plus the ‘Tenant Days to Complete’.

Accounting Schedules Requiring Review

Clicking on the Accounting Schedules Requiring Review tile will open a new tab displaying a list of all leases which require Lease Accounting Schedules to be recalculated due to various changes that trigger an impact to the recurring rent streams or terms of the lease.

The accounting Schedule Status will only change to ‘Recalculate’ based on the following scenarios and when the Lease Status AND the current Schedule Status is equal to ‘Active’:

Scenario 1: Options and Terms tab – When the Renewal Option status is equal to ‘Exercised’ AND if the ‘Include in Accounting Schedule’ box is checked.

Scenario 2: Recurring Costs > Basic Info sub-tab, in the Update pop up – When the Update function is used AND the ‘Include in Accounting Schedule’ box is checked.

Scenario 3: Recurring Costs > Basic Info sub-tab – Whenever a new recurring cost entry is created that falls between the Lease Accounting period entered in the Effective From and Effective To fields AND the ‘Include in Accounting Schedule’ box is checked.

Scenario 4: Lease Details > Basic Info sub-tab – Whenever the "Accounting Tender Date" (aka Possession Date) is changed.

Batch Accrual

Clicking on the Batch Accrual tile will open a new tab allowing the user to generate multiple accrual batches to be approved and ultimately posted to the appropriate general ledger.

Import Sales

Clicking on the Import Sales tile will open a new tab allowing the user to upload a text file (.txt) with sales data from a secured Tango SFTP site required to process percentage rent calculations.

My Tasks

Clicking on the My Tasks tile will open a new tab allowing for the export of tasks pre-filtered by user. These are tasks derived from the Lease Details > Basic Info > Adhoc Tasks subtab of each lease record.

Admin Task Viewer

Clicking on the Admin Task Viewer tile will open a new tab allowing for the export of tasks pre-filtered by user across all leases. These are tasks derived from the Lease Details > Basic Info > Adhoc Tasks subtab of each lease record.