Leased
The status flag Leased
is used to identify a regular lease. Unless adjusted or changed by events
that occur, this is considered to the standard status.
Renewal
The status flag Renewal
is used to identify a lease that is a renewal. The status is set when
the Begin of Day or Recurring Charges Update is run when a lease renewal
goes into effect and the lease renewal does not specify an alternate status.
Month-to-Month
The status MTM is used
to identify a month-to-month lease. Unlike a term lease, this type of
agreement is contracted on a month-to-month basis, therefore must be manually
entered. The system will not automatically update leases to this status.
Holdover
The status flag Holdover
is used to identify a lease that has had Holdover implemented. This status
is automatically updated and the holdover charge automatically applied
when Begin of Day or Recurring Charges Update is run for the current system
date, if certain conditions are met.
Conditions
If the Lease Ends Date is less
than the Begin of Day or Recurring Charges Date.
If the property policy Automatically
change to holdover status if holdover lease is checked and there
is a holdover set up.
If the tenant does not have an approved renewal
set up with a Lease Begins Date prior to or equal to the current Lease Ends Date.
Sub-Lease
The status flag, Sub-Lease
is used to identify a secondary lease associated with a Master lease.
For details, refer to Master
(Lease). The system will not automatically set leases to this status.
Expired
The status flag Expired
is used to identify a lease which has expired and the tenant has not had
a Holdover or Renewal implemented. This status is automatically updated
by the system when Begin of Day or Recurring Charges Update is run for
the current system date, if certain conditions are met.
Conditions
If the Lease Ends Date is less
than the Begin of Day or Recurring Charges Date.
If the property policy, Automatically
change to Holdover lease is unchecked.
If the property policy, Automatically
change to holdover lease is checked, but a Holdover has not been
set up.
If an approved Lease Renewal has not been signed
with a Lease Begins Date prior to or equal
to the current Lease Ends Date.
Master
The status flag Master
is used to identify a lease as the primary lease agreement when a secondary
lease is associated with it. For instance, Company A has leased 3 suites
from Management Company A. Each suite has its own lease agreement. Suite
A, is considered the Master lease and Suite B and C are considered the
Sub-Leases. The system will not automatically update a lease to this status.
Assigned
The status flag Assigned
is used to identify a lease which has been assigned by the original tenant
to a new tenant. The system will not automatically update a lease to this
status.