Navigate to Leases:
Access the "Leases" screen from the main menu.
Why? This action directs you to the dedicated section for managing leases, where you can oversee existing leases and initiate new ones, crucial for maintaining organised lease operations.
Initiate New Lease:
Click the "New Lease" button.
Fill in all required fields, including unit selection, tenant details, and lease terms such as start and end dates, lease amount, payment frequency, and mode.
Why? Setting up a new lease is essential for legally binding the tenant and the landlord to the agreed terms, which ensures predictable revenue and formalises the occupancy terms.
Enter Financial Details:
Input management fees, renewal fees, deposit amounts, and commissions.
Why? Providing comprehensive financial details helps in accurate budgeting and financial planning, which are critical for property management profitability and transparency.
Upload Documents:
Attach necessary documents such as tenant and owner IDs, lease agreements, and proof of payments.
Why? Uploading these documents is crucial for compliance with legal requirements and aids in dispute resolution and audits.
Set Reminders:
Set reminders for key lease dates to ensure timely notifications.
Why? Reminders help prevent oversight of critical lease events like renewals and terminations, ensuring smooth operations and tenant satisfaction.
Save the Lease:
Confirm all details and click "Save Lease".
Why? Finalising and saving the lease in the system records the contract officially, making it retrievable for future reference and enforceable as a legal document.