The Lease Tenancy tab allows you to select the properties that will be in use for the lease. You can select properties from the Property Module that have been flagged as available for property management.
The Tenancy tab is divided into two sections. The top section of the tab is a summary list of all the tenancies that have been added to the lease. The bottom section is the full details of the tenancy that is highlighted in the browse section. You can add and edit the information for a tenancy in the bottom section of the window. The tenancy information on the tab is:
Property - This is the property that will be used as part of this tenancy. You can select from Properties in the Property Module that have been flagged as available for property management. You must select a property for the tenancy. Properties marked with an asterisk (*) are common area properties.
Tenant - This is the tenant who will be occupying the property. You must select a tenant for the tenancy from the list of available tenants. The lease entities that can be selected as the tenant are: the lessee, the payee, or any lease entity that has been added to the lease as a contact.
Tenancy Start Date - This is the date that the tenancy will start. The tenancy start date must be on or after the lease start date, and on or before the lease termination date (if there is one).
Tenancy End Date - This is the date that the tenancy will end. The tenancy end date must be on or after the lease start date, and on or before the lease termination date (if there is one). It must also be on or after the tenancy start date.
Property Floor Area - This is the floor area of the property, as defined in the Property Module. You cannot change the Property Floor Area from the Tenancy Tab.
% Used This Tenancy - The percentage of the floor area of the property that will be in use for the tenancy.
Floor Area This Tenancy - This is a calculation of the Property Floor Area x % Used this Tenancy to give the total square metres of floor area of the property that will be in use for the tenancy.
When adding a tenancy to a lease you must make sure that the property is valid to use between the dates that you have selected for the tenancy. If the property is unavailable during the dates selected for the tenancy, the system will display a message below the tenancy start and end dates to indicate that the property is not available.
You can save invalid tenancies to a Proposed lease, however you will not be able to activate the lease until you have made sure that all tenancies are valid. You may need to alter tenancy dates or choose a different property to validate all tenancies. You cannot save invalid tenancies to an Active lease.
Tenancies must follow these rules to be valid:
A property that is not a common area property cannot be used for more than one tenancy on an Active lease at the same time.
If a property is a common area property, you can use it for more than one tenancy at a time, provided that the total percentage in use for the property on Active leases does not equal more than 100% on any given day of the tenancy. For example, you could use 50% of a common area property on one tenancy, 30% of a common area property on a different tenancy for the same dates, or overlapping dates. However you could not use another 30% of the property on dates that would overlap the existing tenancies, as this would equal more than 100% of the property in use.