The Leases tab enables organizations to add and manage leases for their existing office locations and even floors if desired. This tab provides valuable information like which locations have leases, how much time is left on the lease, the monthly cost of the lease, and the cost broken down by square foot. 

Add a New Lease

To add a new lease, follow the steps below:

1. Navigate to the Locations tab.
2. In the top menu, click Leases.
3. Click the plus (+) icon.
4. Fill out the following information about the lease:

Create New Lease: Info

• Lease Name
• Lease Number (optional)
• External Reference ID (optional)
• Landlord (optional)
• Lease Start
• Lease End
• Duration: This is automatically calculated based on the lease start and end
• Max Occupancy (optional)
• Parking Spaces (optional)

Create New Lease: Space

• Location: Choose the location the lease is for.
• Full Location or Specific Sections: If the lease is being applied to the entire location, place the entire cumulative square footage in the Location Size field. If this lease is for an individual floor that has a Section previously drawn for it, you will be able to choose this section to apply to the lease.
  • Want to learn more about how to get Sections to work with your leases? View our article on How do I add a Section to be used for a lease?

Create New Lease: Cost

Cost Method: Straight Line

The annual cost remains the same throughout the duration of the lease.

• Total Lease Cost: The total cost of the lease over its full duration.
  

  

Cost Method: Percent Escalation

The annual cost increases by a specified percentage each year over the life of the lease.

• Base Annual Cost: The base yearly cost of the lease.
• Annual Escalation %: The percentage by which the annual cost will increase each year.
• Escalation Basis: Determines when the annual escalation is applied. Anniversary Date will escalate the cost on the anniversary of the Lease Start date each year. Specific Date will display the Escalation Month & Day picker, allowing you to choose a specific month and day for the annual escalation.
• Escalation Month & Day: Visible when Escalation Basis is set to Specific Date. Select the month and day on which the annual escalation will be applied. The selected year is ignored.
  

  

Cost Method: Fixed Escalation

The annual cost increases by a fixed dollar amount each year over the life of the lease.

• Base Annual Cost: The base yearly cost of the lease.
• Annual Escalation Amount: The dollar amount by which the annual cost will increase each year.
• Escalation Basis: Determines when the annual escalation is applied. Anniversary Date will escalate the cost on the anniversary of the Lease Start date each year. Specific Date will display the Escalation Month & Day picker, allowing you to choose a specific month and day for the annual escalation..
• Escalation Month & Day: Visible when Escalation Basis is set to Specific Date. Select the month and day on which the annual escalation will be applied. The selected year is ignored.
  

  

5. Once all information has been entered, click the green Create button to add the new lease.

Delete a Lease

If you no longer lease a specific location, you can remove an existing lease at any time. Please note that by deleting a lease, you will lose access to any reporting related to this lease. To delete a lease, follow the steps below: 

1. Navigate to the Locations tab.
2. In the top menu, click Leases.
3. Select a lease to remove.
4. Click the trash/delete icon. Note: When a lease end date is reached, the system automatically removes it from the Active Leases list. However, if you want to remove the lease permanently from the system, you will need to complete the steps above.