PDF Tri Lease Own Property Contract Mng

Copyright IBM Corp. 2011 i

IBM TRIRIGA Version 10.2

Lease and Owned Property Contract Management User Guide

Note Before using this information and the product it supports, read the information in Notices on page 251.

This edition applies to version 10, release 2, modification 0 of IBM TRIRIGA and to all subsequent releases and modifications until otherwise indicated in new editions.

Copyright International Business Machines Corporation 2011. All rights reserved.

US Government Users Restricted Rights - Use, duplication or disclosure restricted by GSA ADP Schedule Contract with IBM Corp.

Copyright IBM Corporation 2011.

Contents

ABOUT THIS GUIDE ........................................................................................................... 1

Conventions ........................................................................................................................................................................ 1

Intended Audience ............................................................................................................................................................. 1

Prerequisites ....................................................................................................................................................................... 1

Support ............................................................................................................................................................................... 1

1. CONTRACT MANAGEMENT ..................................................................................... 2

Real Estate Contract Management .................................................................................................................................. 2

Asset Lease Contract Management .................................................................................................................................. 3

2. CONTRACT HOME PORTALS .................................................................................. 4

Real Estate Contract Home Portals ................................................................................................................................. 4 Application Administrator Portal .................................................................................................................................... 4 Real Estate Contract Manager Portal ............................................................................................................................... 5 Lease Accounting Manager (Lease Accountant) Portal .................................................................................................. 5

Asset Lease Contract Home Portals ................................................................................................................................. 5 Asset Manager Portal ...................................................................................................................................................... 6 Lease Accounting Manager (Lease Accountant) Portal .................................................................................................. 6

3. CONTRACT SETUP ................................................................................................... 7

Real Estate Contract Setup ............................................................................................................................................... 7 Templates ........................................................................................................................................................................ 7 Classifications ............................................................................................................................................................... 10 Lists ............................................................................................................................................................................... 10 Locations ....................................................................................................................................................................... 11 Contacts ......................................................................................................................................................................... 11 Application Settings ...................................................................................................................................................... 12 Configure for OSCRE Interface .................................................................................................................................... 13

Asset Lease Contract Setup ............................................................................................................................................ 14 Templates ...................................................................................................................................................................... 14 Classifications ............................................................................................................................................................... 16 Lists ............................................................................................................................................................................... 17 Locations ....................................................................................................................................................................... 17 Contacts ......................................................................................................................................................................... 17

4. CONTRACT PROCESS ........................................................................................... 18

Real Estate Contract Abstract Process .......................................................................................................................... 18 Lease Abstract ............................................................................................................................................................... 19 Lease Abstract Clause Common Elements ................................................................................................................. 83 Lease Abstract Process Common Elements ................................................................................................................ 89 Lease Abstract Process OSCRE Interface ................................................................................................................ 128 Real Estate Lease ......................................................................................................................................................... 135 Owned Property (Fee) Agreements ............................................................................................................................. 179

Asset Lease Contract Process ....................................................................................................................................... 189 Asset Lease .................................................................................................................................................................. 189

5. CONTRACT ADMINISTRATION ............................................................................ 197

Real Estate Contract Administration .......................................................................................................................... 197 Notifications ................................................................................................................................................................ 198 RE Data Change Request ............................................................................................................................................ 199 Lease Assumption Change Request............................................................................................................................. 202

Asset Lease Contract Administration .......................................................................................................................... 206 Notifications ................................................................................................................................................................ 206 Lease Assumption Change Request............................................................................................................................. 206

6. PAYMENT PROCESSING...................................................................................... 207

Real Estate Payment Processing .................................................................................................................................. 207 Payables ....................................................................................................................................................................... 207 Receivables .................................................................................................................................................................. 230

Asset Lease Payment Processing .................................................................................................................................. 235 Payables ....................................................................................................................................................................... 235 Receivables .................................................................................................................................................................. 241

7. REPORTS ............................................................................................................... 242

Real Estate Reports ....................................................................................................................................................... 242 Abstracts by Abstractor ............................................................................................................................................... 243 Accounts Payable History ........................................................................................................................................... 243 Contract Payment Details Report ................................................................................................................................ 243 Contract Payment Summary Report ............................................................................................................................ 243 Contract Summary Report ........................................................................................................................................... 244 Future Rent Obligations Detail Report ........................................................................................................................ 244 Lease Abstract Abstracts for Review ....................................................................................................................... 244 Lease Abstract My Abstracts .................................................................................................................................... 244 Lease Critical Dates Report ......................................................................................................................................... 244 Line Item Master Report.............................................................................................................................................. 244 List of Lease Abstracts Report .................................................................................................................................... 245 Option Master Report .................................................................................................................................................. 245 Owned Property Record and Owned Property Abstract Reports ................................................................................. 245 Payment Reconciliation Invoice .................................................................................................................................. 246 Percentage Rent Report ............................................................................................................................................... 246 Portfolio Summary Report........................................................................................................................................... 246 Process Payment Summary ......................................................................................................................................... 247 Real Estate Invoice, RE Invoice Record, RE Invoice Summary Bulk Print ................................................................ 247 Real Estate Lease Record and Real Estate Lease Abstract Reports ............................................................................ 248 Tenant Payment Aging Report .................................................................................................................................... 248

INDEX .............................................................................................................................. 249

NOTICES ......................................................................................................................... 251

Copyright IBM Corporation 2011. 1

About This Guide This guide describes the procedures for operating, modifying, and maintaining the Real Estate Contract Management application. The guide contains descriptions of the various tabs and their functions.

Conventions This document uses the following conventions to ensure that it is as easy to read and understand as possible:

Note A Note provides important information that you should know in addition to the standard details. Often, notes are used to make you aware of the results of actions.

Tip A Tip adds insightful information that may help you use the system better.

Attention An Attention notice indicates the possibility of damage to a program, device, system, or data.

Intended Audience This guide is for contract administrators, contract abstractors, and system personnel responsible for setting up, tracking, and maintaining precise Real Estate Contract Management details including lease and owned property information and accounting.

Prerequisites This guide assumes the reader has a basic understanding of IBM TRIRIGA Application Platform and the fundamental concepts required to operate the Web-based IBM TRIRIGA system.

Support IBM Software Support provides assistance with product defects, answering FAQs, and performing rediscovery. View the IBM Software Support site at www.ibm.com/support.


1. Contract Management

Real Estate Contract Management IBM TRIRIGA Real Estate Manager allows companies to store all contract documentation, conditions, clauses, options, and financial transactions in one comprehensive repository. The system provides automated notifications and alerts about upcoming critical dates including lease expirations, required actions and contract options to avoid overpayment, late fees and missed opportunities.

In order to create up-to-date financial reports, maintain an accurate payment process, and satisfy regulatory requirements, IBM TRIRIGA Real Estate Manager provides tools to help manage the financial and payment aspects of lease accounting and allocations. Since many real estate contracts specify complex rules and limits for certain types of payments such as common area maintenance or percentage rent, the IBM TRIRIGA system provides tools to ensure that the proper contractual rules are adhered to in accounting for these obligations.

The first step in the Real Estate (RE) process is identifying and acquiring the property. The next step is documenting the terms and clauses for the transaction of the contract (lease or purchase) by abstracting them into the system, thereby considerably reducing the effort involved in tracking contractual obligations in an otherwise tedious time-bound process. Consequently, the Real Estate Contract Management process serves as (1) a consolidated repository for all facilities-related contracts, aiding the production of a comprehensive view of costs and commitments, and (2) a point of convergence of contracts with properties, geographies, and organizations, thereby providing a global perspective on business activities. Real Estate Contract Management also includes receiving notifications from the system about upcoming dates or events and managing each contract through proposed changes and amendments.

IBM TRIRIGA software facilitates abstraction performed in house or by an external resource. An Abstractor role and the Real Estate Contract Manager role are responsible for the activities involved in the Real Estate Contract Management process. The Real Estate Contract Manager role monitors the contracts and the details involved in the acquisition of properties.

The following diagram gives a high-level view of the Real Estate process.

Real Estate Overview


The Real Estate Contract Abstracting, Real Estate Contract Administration and Real Estate Payment Processing steps are covered in progression in this document. However, the flow of process steps and information in your organization may be in a different sequence as you follow your companys business practices. For information about Portfolio Planning and Real Estate Transactions, see the IBM TRIRIGA 10 Real Estate Transaction Management User Guide.

Note The process flow delivered with the IBM TRIRIGA application can be modified as required by your organizations standards and policies through configuration using the IBM TRIRIGA Application Platform building tools.

Asset Lease Contract Management As a component of IBM TRIRIGA Real Estate Manager, Asset Lease Contract Management similarly allows companies to store Equipment Asset (Personal Property) lease contract documentation, conditions, clauses, options, and financial transactions in one comprehensive repository. The system provides automated notifications and alerts about upcoming critical dates including asset lease expirations, required actions and contract options to avoid overpayment, late fees and missed opportunities.

The following diagram gives a high-level view of the relationship between the Asset Lease component and the Real Estate process.

Asset Lease Component


2. Contract Home Portals Your IBM TRIRIGA Home page is your entrance into the IBM TRIRIGA application. From your Home page, you can review your Home portal or use the menu system to navigate to process portals available to your role. Use your Menu Bar to navigate to other available portals. Based on your role, your IBM TRIRIGA application may consist of one or many portals.

The setting of the Home page as well as the Project Home page is set in your My Profile record, in the Default Portal section.

Note Based on your role in the company and your security and license access, your Home portal or process portals may vary. However, it will contain a combination of the components and section types described in this discussion. In turn, each IBM TRIRIGA portal consists of Portal Sections. Each portal section performs a specific function and/or displays data pertinent to your business role. The portal sections you have in your portal have been configured by your Application Administrator for your role in the system.

Note For more information on portals and portal sections, refer to the IBM TRIRIGA 10 Getting Started User Guide.

Real Estate Contract Home Portals When you sign into the IBM TRIRIGA application, you are taken to your Home portal.

When you sign in as an Application Administrator user role, the Home portal is the Application Administrator portal.

When you sign in as a Real Estate Contract Manager user role, your Home portal is the Real Estate Contract Manager portal.

When you sign in as a Lease Accounting Manager (Lease Accountant) user role, your Home portal is the Lease Accounting Manager portal.

Application Administrator Portal An example of the Application Administrator Home portal for an Application Administrator user role includes the following portal sections:

Reminders Application Administrator Last Visited Application Administration License and Security Application Administration - Utilities


Real Estate Contract Manager Portal An example of the Real Estate Contract Manager Home portal for a Real Estate Contract Manager user role includes the following portal sections:

Reminders RE Contract Manager Performance Metrics RE Contract Manager Related Links RE Contract Manager Last Visited Lease Obligations Lease Expirations Utilization Rate / RE Contract Area Per Person (Space Use Agreement)

Lease Accounting Manager (Lease Accountant) Portal An example of the Lease Accounting Manager Home portal for a Lease Accounting Manager (Lease Accountant) user role includes the following portal sections:

Reminders Lease Accounting Manager Related Links Lease Accounting Manager Last Visited Overdue Lease Assumptions My Lease Reviews Amortization Schedule Summary 10K Financial Report

Asset Lease Contract Home Portals When you sign into the IBM TRIRIGA application, you are taken to your Home portal.

When you sign in as an Asset Manager user role, your Home portal is the Asset Manager portal. When you sign in as a Lease Accounting Manager (Lease Accountant) user role, your Home

portal is the Lease Accounting Manager portal.


Asset Manager Portal An example of the Asset Manager Home portal for an Asset Manager user role includes the following portal sections:

Reminders Asset Manager Related Links Asset Manager Asset Value by Specification Class Last Visited Quick Find (Inventory) Quick Find (Installed/Assigned Assets by Type) My Purchase Orders

Lease Accounting Manager (Lease Accountant) Portal See the Lease Accounting Manager (Lease Accountant) above.


3. Contract Setup

Real Estate Contract Setup Certain activities should be undertaken at the beginning of the IBM TRIRIGA Real Estate Manager process. These activities focus on tailoring templates, classifications, lists, locations, and contacts for your organization as well as establishing lease abstract defaults and configuring for the OSCRE (Open Standards Consortium for Real Estate) interface.

These setup activities should be performed before beginning the Real Estate Contract Abstracting process, as shown in the diagram below:

Real Estate Contract Setup Activities

Templates IBM TRIRIGA automation strategies focus on using templates to simplify the processes involved in commonly used information. Once a template is created, you can reuse it as needed to quickly create new records. The templates used in the Real Estate Contract Management process are as follows:

Lease Abstract Template Lease Clause Template Option Template Owned Property (Fee) Agreements Template Real Estate Lease Template


The most important role of a template is to accelerate the creation of a record, avoiding redundant data entry and maintaining consistency across multiple records. Templates enable you to quickly add data that commonly appears across multiple records, such as internal contacts, clauses, terms, and conditions. When the template is applied, the system replicates the details entered in the template into the new record. Utilizing templates reduces the creation and implementation time for each record.

The tabs, sections, and fields of the Real Estate Contract Management templates mirror the structure of the records they represent. For information about the tabs, sections, and fields of a template, refer to the chapter in this user guide that discusses the corresponding record.

Tip Use the Templates page to build templates for your companys Real Estate Contract Management records. Use IBM TRIRIGA standard templates as a model. Instead of updating an IBM TRIRIGA standard template, copy it and build your template from the copy.

Creating, Editing and Deleting a Template The process of building a template is similar for all templates. The following discussion uses the Lease Clause Template for purposes of illustration.

To Create, Edit and Delete a Template

Step 1 Sign in with the proper RE Contract Manager (or Application Administrator) role.

Step 2 From the Menu Bar, select Contracts > Set Up > Templates. The Templates page appears.

Step 3 Click Lease Clause to open the Lease Clause results page.

Step 4 Review the list of Lease Clause Template records.

From this page, you can add, modify or delete a Lease Clause Template record.

Step 5 To add a Lease Clause Template, click Add.

Step 6 Review the form that appears.

Enter the details for this template.

Step 7 After entering details, click Create Template.

Step 8 Review the additional form actions on the Action bar.

Step 9 To edit a Lease Clause Template, click the name of the Lease Clause Template you want to modify.




Make the changes and click Save & Close.

Step 11 To delete a Lease Clause Template, check the check box to the left of the Lease Clause Template you want to delete.

Step 12 Click Delete.

The system deletes the record without a delete confirmation window.

Form Actions

The following table lists the common actions available and a description of each.

Action Name Description

Create Template Click the Create Template action to save all initial data entered in the new template. The system displays more tabs.

The system displays additional actions on the Action bar. The actions include Save, Save & Close, More, Copy, and X (Cancel).

Save Click the Save action to save the changes made.

Save & Close Click the Save & Close action to save the changes and close the active window.

X Click the X (Cancel) action to terminate the changes made and also to close the active window.

Note Clicking the Cancel action without saving the record will erase all the data you have entered in the record.

Copy Click the Copy action to create a copy of the selected record.

On clicking the Copy action, a copy of the record is created (in the Template status) and displayed in the appropriate page wherein the details can be modified as required.

More Depending on the record and its status, clicking the More action displays several more actions including those discussed above. Click the preferred action.

Note For more information on the common and additional form actions available, refer to the IBM TRIRIGA 10 Getting Started User Guide.


Classifications Classifications are records presented in a hierarchical fashion. If the type of a field is classification, a record in the Classification Hierarchy can be chosen as the value of the field. Real Estate Contracts have several classification fields that help to describe each record. For example, the following classifications are among those included in a Real Estate Lease:

Area Type Clause Section Category Clause Type Contract Status Contract Type Cost Index Granted In Lease Late Fee Type Lease Class Lease Type Maintenance Priority Option Type Organization Type Pass Through Type Payment Type Provider Rating Responsible Party Roles Time Zones Year

Tip The Clause Type classification contains a Clause Category field. The field values include the following: Allowance, Commission, Co-Tenancy, Covenant, Indices, Insurance, Other, Parking, Pass Through, Percentage Rent, Rent, Responsibilities, Security Deposit, and Tax. As these Clause Category values are system-defined, do not change or add new values. The Clause Category field drives the show/hide logic on the Clause Form. With this added flexibility you can add a new Clause Type and set a Clause Category, and the Form will show/hide the appropriate sections without you having to change the workflow.

Note For a further discussion of Classifications and the Classification Hierarchy, refer to the IBM TRIRIGA 10 Application Administration User Guide.

Lists IBM TRIRIGA provides lists of predefined values for many fields in Real Estate Contract Management. These lists contain valid data, and a user can select the required value from a list instead of typing it. This improves data integrity by restricting users to selecting approved values from a list for entry into a field.

Use the Lists page to create and manage radio button lists, drop-down lists of static values, dynamic lists derived from values in the IBM TRIRIGA database, and/or dependent lists in which selection from one list passes a filter to another list. For example, the following lists are among those included in a Real Estate Lease:


Accounting Type Calculation Rule Conversion Group Country Currency FASB Type Lease Service

Responsibility Note Type Payment Entry Type

Payment Method Payment Schedule Schedule Type

Note You can find more information about the Lists page in the IBM TRIRIGA 10 Application Administration User Guide.

Locations Each location used in the IBM TRIRIGA system must be defined in the Location Hierarchy. The elements contained in the Location Hierarchy are as follows:

Building External Retail Location Floor Land Location Category Property Proposed Retail

Location Proposed Site Retail Center

Retail Location Space Space Group Structure Vertical Shaft

Note The IBM TRIRIGA 10 Portfolio Management User Guide and the IBM TRIRIGA 10 Real Estate Environmental Sustainability Portfolio Management User Guide contain detailed instructions for how to use the Location Hierarchy that are not replicated in this user guide.

Also, you can create a new location while working in a Lease Abstract record from the Create New Location action on the Primary Address section bar.

Contacts Each Real Estate Contract record includes information about the various contacts for that record, for example the landlord. Such information can be entered by the user when they create or update a Real Estate Contract record. First, enter contact information in the People page in IBM TRIRIGA. This promotes data integrity by ensuring consistent information in each Real Estate Contract record for a contact and reduces data entry time because a contact can be quickly found with a search.

The elements contained in the People page include:

Consultant Employee External Contact


Note The IBM TRIRIGA 10 Portfolio Management User Guide and the IBM TRIRIGA 10 Real Estate Environmental Sustainability Portfolio Management User Guide contain detailed instructions for how to use the People page that are not replicated in this user guide.

Application Settings Many of the parameters used in various calculations and comparisons can be set once for the entire application. The Application Settings record provides a location for setting the defaults for such parameters.

Note Refer to the IBM TRIRIGA 10 Application Administration User Guide for details.

Lease Abstract Defaults A Lease Abstract record includes actions to Create New Location on the Primary Address section bar and Create New Organization on the Tenant, Landlord, Management Company, and Guarantor section bars. These actions require the identification of the parent record in the hierarchy and automatically default to the parent record.

Set the Lease Abstract defaults for organization and location in the General tab, Lease Abstract Defaults section of the Application Settings record, located under Tools > System Setup > General > Application Settings.

Lease Assumption and Amortization Defaults Set the Real Estate Lease defaults for review assumptions, lease growth assumptions, rent component assumptions, amortization periods, and extended rent payments for the likely term, in the Lease Accounting Settings tab of the Application Settings record, located under Tools > System Setup > General > Application Settings.

Note For more information about the application of assumption review information to the initial Assumption Audit Log when the Real Estate Lease is created, see the Lease Abstract to Real Estate Lease Process.


Configure for OSCRE Interface Both your server and the third-party server need to be configured in order to use IBM TRIRIGA OSCRE Lease Abstract Standard tools. The following information describes in general terms the tasks that should be performed. These functions are generally performed by an administrator.

TRIRIGAWEB.properties File

Configure the following properties in the TRIRIGAWEB.properties file in both your server and the third-party server before sending Lease Abstract records or using the IBM TRIRIGA OSCRE Lease Abstract XML Export and Import tools the first time:

Set the SMTP mail server mail.smtp.host and the SMTP mail server IP mail.smtp.email.domain.

The DATACONNECT_SLEEP_TIME default is 10 minutes. This is the time before it wakes up to check if more jobs need to be processed.

Be aware that the default for DC_HISTORY_RETENTION_DAYS is 5 days. This property is the number of days before entries are cleaned up from DataConnect Jobs that are Completed or Obsolete.

Note You will find information about the TRIRIGAWEB.properties file in the IBM TRIRIGA Application Platform 3 Installation and Implementation Guide.

Administrator Console Use the IBM TRIRIGA Administrator Console on both your server and the third-party server to configure the following:

The IBM TRIRIGA OSCRE XML tools require DataConnect and Incoming Mail agents to be running. Start them from the Administrator Console if they are not already started. Alternately, these can be configured in the TRIRIGAWEB.properties file to start automatically.

For more detailed logging during OSCRE XML processing, turn on platform logging for DataConnect, Incoming Mail, and/or ETL.

Note You will find information about the Administrator Console in the IBM TRIRIGA Application Platform 3 Administrator Console User Guide.

Application Settings Both your server and the third-party server need the following tasks completed:

Incoming Mail: IP Address and valid incoming mail account for server. System Config User Accounts: When sending a Lease Abstract record, any System Config e-mail

account may be chosen as source or target system. This is located under Tools > System Setup > Integration > System Configuration.


Configure users groups to include IBM TRIRIGA RE Lease Abstractor and IBM TRIRIGA RE Lease Abstract Manager as appropriate.

Notification Requirements: Accepted, Clarification Provided, Clarification Requested, Received, and Rejected user/role notification configurations under Tools > Approvals & Notifications.

Verify Transformation Content records exist for all OSCRE processes (Accept, Reject, Send, Request Clarification, and Provide Clarification) under Tools > Data Utilities.

Verify all Transformation files exist for all OSCRE processes (Accept, Reject, Send, Request Clarification, and Provide Clarification) in the General tab, Lease Abstract Transformation section of the Application Settings record located under Tools > System Setup > General > Application Settings.

Note Refer to Application Building for the IBM TRIRIGA Application Platform 3 and IBM TRIRIGA 10 Application Administration User Guide for details.

Asset Lease Contract Setup Certain activities should be undertaken at the beginning of the IBM TRIRIGA Asset Lease Contract Management process. These activities focus on tailoring templates, classifications, lists, locations, and contacts for your organization.

Templates IBM TRIRIGA automation strategies focus on using templates to simplify the processes involved in commonly used information. Once a template is created, you can reuse it as needed to quickly create new records. The templates used in the Asset Lease Contract Management process are as follows:

Asset Lease Clause Template Asset Lease Template Option Template (same for Real Estate Contract Management process)

For more information on templates, see the Real Estate Contract Management Templates.


Creating, Editing and Deleting a Template The process of building a template is similar for all templates. The following discussion uses the Asset Lease Clause Template for purposes of illustration.


Step 1 Sign in with the proper RE Contract Manager (or Application Administrator) role.

Step 2 From the Menu Bar, select Contracts > Set Up > Templates. The Templates page appears.

Step 3 Click Asset Lease Clause Template to open the Asset Lease Clause Templates results page.

Step 4 Review the list of Asset Lease Clause Template records.

From this page, you can add, modify or delete an Asset Lease Clause Template record.

Step 5 To add an Asset Lease Clause Template, click Add.


Enter the details for this template.

Step 7 After entering details, click Create Template.

Step 8 Review the additional form actions on the Action bar.

Step 9 To edit an Asset Lease Clause Template, click the name of the Asset Lease Clause Template you want to modify.


Make the changes and click Save & Close.

Step 11 To delete an Asset Lease Clause Template, check the check box to the left of the Asset Lease Clause Template you want to delete.

Step 12 Click Delete.

The system deletes the record without a delete confirmation window.


Form Actions



Create Template Click the Create Template action to save all initial data entered in the new template. The system displays more tabs.

The system displays additional actions on the Action bar. The actions include Save, Save & Close, More, Copy, and X (Cancel).




Note Clicking the Cancel action without saving the record will erase all the data you have entered in the record.


On clicking the Copy action, a copy of the record is created (in the Template status) and displayed in the appropriate page wherein the details can be modified as required.



Classifications For information on classifications, see Classifications for Real Estate Contract Management.


Lists For information on lists, see Lists for Real Estate Contract Management.

Locations For information on locations, see Locations for Real Estate Contract Management.

Contacts For information on contacts, see Contacts for Real Estate Contract Management.


4. Contract Process

Real Estate Contract Abstract Process Abstracting a Real Estate Contract into electronic form facilitates easy access to key information, replacing the tedious process of reading the entire contents of the contract each time. You should be able to abstract any information within a Real Estate Contract that you want to search for, report on, set notifications, include in a workflow, or analyze and compare with other records. All costs should be abstracted for cost analysis.

The following diagram illustrates the real estate contract abstraction process:

Real Estate Contract Abstract Process

Whether the Real Estate Contract is a lease or owned property, there are many common elements in the abstraction process. This chapter discusses the Lease Abstract, Real Estate Lease, and Owned Property (Fee) Agreement records, as well as their common elements.

Lease Abstract Lease Abstract Clause Common Elements Lease Abstract Process Common Elements Lease Abstract Process OSCRE Interface Real Estate Lease Owned Property (Fee) Agreements


Lease Abstract Property, Plant and Equipment (PP&E) costs are often the second most significant expenses in a financial summary. Lease costs are a significant component of PP&E and careful management can substantially reduce these costs.

The tasks involved in managing a lease enable the organization to effectively supervise properties, such as lots and buildings, and other resources that they own or lease. The IBM TRIRIGA system simplifies and automates the process of managing contractual obligations and tax regulations, tracking expenses and payments, and maintenance activities. A typical lease may carry detailed provisions requiring tenants and landlords to pay for the building expenses, real estate taxes, utility charges, and other items. A lease is abstracted into the IBM TRIRIGA application so that it can become an interactive, indexed document on which queries can be run, enabling cost-related decisions to be made based on accurate data. This abstraction will notify the vital dates in advance, thereby eliminating costly oversights.

Abstracting a lease into electronic form facilitates easy access to key information, rather than the tedious process of reading the entire contents of the contract each time. You should be able to abstract any information within a lease that you want to search from, report on, set notifications, include in a workflow, or analyze and compare with other records. All costs spelled out in a lease also should be abstracted for cost analysis.

The Real Estate Lease Abstract record can contain as much of the actual lease details as you want, based on your organizations preferences and standards. You can elect to enter the entire lease word-by-word and even attach the lease as a scanned or document file using the Document Manager module, or you can summarize and capture only specific key aspects of a lease.

The following diagram illustrates where this section belongs in the overall Real Estate Contract abstraction process.

Real Estate Contract Abstract Process Lease Abstract


The IBM TRIRIGA Lease Abstract functionality is a best practice for lease abstraction. A Lease Abstract (formerly called a proposed lease) provides an organized and simplified form for capturing the critical information found in your physical lease contracts. IBM TRIRIGA supports data entry techniques designed to dramatically reduce the time it takes to enter this critical information, including: (a) You enter Lease Abstract records in the system, (b) A third-party abstractor uses IBM TRIRIGA to enter Lease Abstract records, and then sends the records to you via OSCRE XML, and (c) A third-party abstractor outside the IBM TRIRIGA system enters Lease Abstract records in the Real Estate Lease Abstract Offline form, and e-mails the form to the IBM TRIRIGA system.

A Lease Abstract record creates a draft of the Real Estate Lease before formally endorsing it. This can separate security between internal and outsourced resources that are abstracting leases. Upon mutual agreement of the stipulated terms, the Lease Abstract serves as a formal Real Estate Lease record. The Lease Abstract record functions as a forerunner of the actual Real Estate Lease before closeout of the same. After a Lease Abstract record is activated and approved, the moment it is completed, the record becomes a Real Estate Lease record and is available for further transactions.

Follow the procedure below to create a new Lease Abstract record. A Lease Abstract also may be created on completion of a RE Lease project. You will find more information on RE Lease projects in the IBM TRIRIGA 10 Real Estate Transaction Management User Guide.

Creating Lease Abstract Using the IBM TRIRIGA System Using a Third-Party IBM TRIRIGA System and OSCRE XML Using the Real Estate Lease Abstract Offline Form

The following tabs in a Lease Abstract are described below:

General Tab Before Creating Draft General Tab After Creating Draft Rent Tab Default Tab Security Deposit Tab Options Tab Rights Tab Allowances Tab OPEX/CAM Tab Insurance Tab Tax Tab Parking Tab Co-Tenancy Tab Green Lease Provisions Tab Responsibilities Tab Other Clauses Tab Accounting Tab


The following common tabs are described in the Lease Abstract Process - Common Elements section:

Notifications Tab Notes & Documents Tab Work Flow Instance Tab Associations Tab

Tip After adding or editing data in a multi-tab section, navigate back to the Clause Details sub-tab and click Save Clause.

Tip Click the Save action on the Lease Abstract record action bar after entering information and before moving to the next tab.

Creating Lease Abstract Lease Abstract records can be entered into the system using the following methods:

Using the IBM TRIRIGA System - By users keying information into the system. Using a Third-Party IBM TRIRIGA System and OSCRE XML - By third-party lease abstractors

keying information into a different IBM TRIRIGA system and using OSCRE XML.

Using the Real Estate Lease Abstract Offline Form - By users emailing the Real Estate Lease Abstract Offline form.

The tabs, sections, and fields in a Lease Abstract record have the same significance regardless of the method used to enter them.

Using the IBM TRIRIGA System Follow these steps to access Lease Abstract records:

To Access Lease Abstract Records

Step 1 Sign in with the proper RE Contract Manager role.

Step 2 From the Menu Bar, select Contracts > Leases. The Leases page appears.

Step 3 In the Related Links Contract Leases portal section, click Lease Abstracts to open the Lease Abstracts results page.

Step 4 Review the list of Lease Abstract records.

From this page, you can add, modify or delete a Lease Abstract record.

Note The Lease Abstracts results page is the only place where you can delete a Lease Abstract record.



Step 5 To add a Lease Abstract, click Add.


Step 7 After entering details, click Create Draft.

Step 8 Review the form that refreshes.

The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional form

actions on the Action bar.

Form Actions



Create Draft Click the Create Draft action to save all initial data entered in the new record.

The system displays more tabs representing clause types to be abstracted.

The system changes the status of the record to Draft and displays additional actions on the Action bar. The actions include Activate, Apply Template, Save, Save & Close, More, Copy, and X (Cancel).




Note Clicking the X (Cancel) action without saving the record will erase all the data you have entered in the record.


On clicking the Copy action, a copy of the record is created (in the Draft status) and displayed in the appropriate page wherein the details can be modified as required.



Apply Template Click the Apply Template action to copy the contents of the selected template to the current record.

On clicking the Apply Template action, the system displays a list of templates retrieved from the associated business objects. Select a template and click the OK action. The system copies the contents of the selected template to the current record.

Activate Click the Activate action to add the record to the active management list.

On clicking Activate action, the system changes the status of the record to Review In Progress and after all the members in the distribution list have approved the record, the record status becomes Active.

Complete Click the Complete action to complete the tasks associated with the record.

The system copies the information in the Lease Abstract record and creates a Real Estate Lease record with the same name that is found in the Real Estate Lease page in Draft status.

Note On clicking Complete, the system adds a link to the newly created Real Estate Lease record, in the Lease Abstract records Real Estate Leases section on the General tab.

Moreover, the system adds a reciprocal link to the Lease Abstract, in the Lease Abstract section of the History tab on the Real Estate Lease record.



Using a Third-Party IBM TRIRIGA System and OSCRE XML Follow these steps to access Lease Abstract records:


Step 1 Sign in with the proper RE Contract Manager role.

Step 2 From the Menu Bar, select Contracts > Leases. The Leases page appears.



Step 3 In the Related Links Contract Leases portal section, click Lease Abstracts to open the Lease Abstracts results page.

Step 4 Review the list of Lease Abstracts records.

From this page, you can add, modify or delete a Lease Abstract record.

Note The Lease Abstracts results page is the only place where you can delete a Lease Abstract record.

Step 5 To add a Lease Abstract, click Add.


Step 7 After entering details, click Create Draft External.

Step 8 Review the form that refreshes.

The system displays more tabs representing clause types to be abstracted. The system changes the status of the record to Draft and displays additional form

actions on the Action bar. The actions include Start Abstract, Apply Template, Save, Save & Close, More, Copy, and X (Cancel).

Step 9 Fill in the desired data and click Start Abstract.

The system changes the status of the record to In Progress.

Step 10 Enter any other data and click Submit for Review.

The system routes the record for approval following the approval rules established by your company.

Until the Lease Abstract record is approved, its status is Review In Progress. Once approved, the Lease Abstract record is found in the Lease Abstracts results

page with a status of Approved.

Step 11 When you are ready to send the Lease Abstract record to another system:

Return to the Lease Abstracts results page. Reopen the Lease Abstract record. Click Send.

Step 12 Review the Lease Abstract Send form that appears.

Enter a Comment. Select the Source System. Select the Target System. Click Submit. The system sends the record via email and changes the status of the

record to Sent.


Form Actions



Create Draft External Click the Create Draft External action to save all initial data entered in the new record.


The system changes the status of the record to Draft and displays additional actions on the Action bar. The actions include Start Abstract, Apply Template, Save, Save & Close, More, Copy, and X (Cancel).









Start Abstract Click the Start Abstract action to begin entering Lease Abstract data into the Lease Abstract tabs.

On clicking the Start Abstract action, the system changes the status of the record to In Progress.



Submit for Review Click the Submit for Review action to add the record to the active management list.

On clicking Submit for Review action, the system changes the status of the record to Review In Progress and after all the members in the distribution list have approved the record, the record status becomes Approved.

Send Click the Send action to send the Lease Abstract record to another system.

Submit Click the Submit action to send the record via email.

On clicking Submit action, the system changes the status of the record to Sent.

Note Additional record statuses include:

Accepted The record was accepted by the other system.

Rejected The record was rejected by the other system.

Pending Clarification This is a status on the customer system when waiting for clarification to be provided by the third-party system.

Clarification Requested The third-party system has received the Clarification Requested. Open the record to Provide Clarification.

Clarification Provided The third-party system has sent Clarification Provided and both customer and third-party record statuses have been updated.

Received The other system received the record. However, it has not been acted upon.




Using the Real Estate Lease Abstract Offline Form IBM TRIRIGA offers the Real Estate Lease Abstract Offline Form as a mechanism for importing Lease Abstract records that have been created outside the IBM TRIRIGA system. The Real Estate Lease Offline Form is an Excel spreadsheet that has an area for tabs in a Lease Abstract record (General, Rent, Security Deposit, Options, Allowances, OPEX/CAM, Insurance, Tax, Parking, Co-Tenancy, Responsibilities, and Covenants).

Once the external user completes an Offline form for a Lease Abstract record, they click E-Mail Offline Form to send the form as an attachment to a configured incoming e-mail address. The subject of the e-mail must be LEASE ABSTRACT FORM.

When the system processes the Real Estate Lease Abstract Offline Form, it creates a Lease Abstract record in draft status.

Note Application Building for the IBM TRIRIGA Application Platform 3 describes how to set up the IBM TRIRIGA system to receive an Offline form. IBM TRIRIGA 10 Application Administration User Guide describes how to access and manage the Offline forms for external users.

Note The Lease ID of a Lease Abstract record must be unique. The system rejects any imported Lease Abstract record with a Lease ID matching a Lease Abstract record already in the database.

General Tab Before Creating Draft The General tab of the Lease Abstract includes basic information about the lease and the location. The following describes each section in the General tab:

Abstract Details Section

Abstracted By If the person listed in Abstracted By is not correct, enter a few characters of the name to take advantage of autocomplete or click the Search icon to find the name.

Abstracted Date To change the Abstracted Date, click the Calendar icon .

Document Details Section

Document Version Enter the Document Version.

Executed Date For Executed Date, click the Calendar icon and select the date.

Document Type Click the Search icon and select the appropriate Document Type.

Effective Date For Effective Date, click the Calendar icon and select the date.


Document Details Section

Lease File Name Enter the Lease File Name.

General Section

Lease ID Enter a unique Lease ID identifying the Lease Abstract record. If you do not assign a Lease ID, the system generates one automatically.

For third-party (external) integrations, a unique Lease ID is critical to the integration working properly.

Status The system displays the current Status of the record. The values are described below:

Draft - The record has been created and awaits further data entry. The system generates this status when the user clicks Create Draft on the action bar.

Review In Progress The record has been routed for approval and is yet to be approved by all distribution list members. The system generates this status when the user clicks Activate on the action bar.

Approved All distribution list members approved the record. The system automatically changes the record status from Review In Progress to Approved after record approval.

Completed The record is now a Real Estate Lease in Draft status. The system generates this status when the user clicks Complete on an Approved records action bar.

Picture Select a picture for this record.

Lease Name Enter the Lease Name of the record.

Legal Name For Legal Name, enter the landlord/organization name as available in the legal documents.

Description Provide a brief Description of the record.


Form Actions



Create Draft Click the Create Draft action to save all initial data entered in the new record.


The system changes the status of the record to Draft and displays additional actions on the Action bar. The actions include Activate, Apply Template, Save, Save & Close, More, Copy, and X (Cancel).









Activate Click the Activate action to add the record to the active management list.

On clicking Activate action, the system changes the status of the record to Review In Progress and after all the members in the distribution list have approved the record, the record status becomes Approved.



Complete Click the Complete action to complete the tasks associated with the record.

The system copies the information in the Lease Abstract record and creates a Real Estate Lease record with the same name that is found in the Real Estate Lease page in Draft status.

Note On clicking Complete, the system adds a link to the newly created Real Estate Lease record, in the Lease Abstract records Real Estate Leases section on the General tab.

Moreover, the system adds a reciprocal link to the Lease Abstract, in the Lease Abstract section of the History tab on the Real Estate Lease record.



General Tab After Creating Draft

Primary Address Section

Location Lookup Enter a few characters of the Location in the Location Lookup field to take advantage of autocomplete or click the Search icon to find the Location.

Note The data will be defaulted in the following fields Location, Geography Path, Address, City, State/Province, County, Zip/Postal Code and Country if the data was provided in the selected record for this Location Lookup field.

Location Enter Location information.

Geography Path Enter a few characters in the Geography Path field to take advantage of autocomplete or click the Search icon .

Note The data will be defaulted in the following fields City, State/Province, County and Country based on the selected Geography Path.


Primary Address Section

Address Enter the Address.

City, State/Province, Country

The system auto-populates the City, State/Province, and Country fields.

County Enter the County.

Zip/Postal Code Enter the Zip/Postal Code.

Country Enter the Country.

Location Setup

Follow these steps to set up a Location that is not already found in the Location Hierarchy:

To Set Up a Location

Step 1 If the Location is not already set up in the Location Hierarchy, click Create New Location on the Primary Address section bar.

Step 2 Enter Location Details and Setup Details and click Continue. The information populates the Location Lookup field on the Lease Abstract record.

Step 3 If the City is not already set up, click Create New City on the Primary Address section bar. Enter City Details and Hierarchy Details and click Continue. The information populates the City on the Lease Abstract record.

Lease Contacts Section

This section displays the details of the contact persons for any lease queries. All contact information displays as line items. The displayed information includes the name, role, organization, work phone number, and e-mail of each person.

You can add contact(s) to this section by clicking the Add People action in the section bar. The system displays the available records from the People page. Select the person(s) you want to add to the distribution list and click OK. The records that are selected are added as line items.

To assign a role to a person, Check the check box to the left of the line item and click the Update Role action on the section bar. The system displays the available roles. Select one and click OK.

Use the Remove action to delete selected record(s).


Units Section

Currency Select the Currency type used for all cost-related fields in the record. The system displays all defined Currency options.

By default, the system displays the Currency set by your administrator.

Area Units Select the Area Units to specify the unit of measure (UOM) for all fields in the record that specify an area.

The system displays all UOMs defined in the Tools > Administration > Lists page.

Details Section

Lease Type Click the Search icon and select the appropriate Lease Type. There are four Lease Type classifications:

Expense Lease - This is the most common. Use it when you lease space from a landlord.

Expense Lease Master Sublease - An expense lease used when subleasing space from another party.

Income Lease Sublease - An income (AR) based lease used when you have an expense lease that you sublease part of to a third party.

Income Lease Third Party Lease - An income (AR) based lease used when you own the property and set up third-party tenants in the building.

Note The system adds the Parent Real Estate Contract of Sublease section to the General tab, if the value of Lease Type is either Income Lease Sublease or Income Lease Third Party Lease.

Lease Category Use the Search icon to select the Lease Category type of the Lease Abstract record. In the search list, the system displays the available types as defined in the Lease Class business object of the Classifications Hierarchy.

Primary Use Click the Search icon and select the Primary Use of the Lease Abstract record. In the search list, the system displays the available types as defined in the Lease Primary Use business object of the Classification Hierarchy.

Note The system adds the Grand Open Date and Soft Open Date fields to the Critical Dates section below when the value of Primary Use is Retail.


Details Section

Contract Status Use the Search icon to select the Contract Status of the Lease Abstract record. In the search list, the system displays the available types as defined in the Lease Contract Status business object of the Classification Hierarchy.

Base Lease Rate Enter the Base Lease Rate. The Currency is set in the Units section.

Lease Base Year Enter the Lease Base Year.

Memorandum of Lease

Check the check box if this applies.

Rules and Regulation?


Is Cost or Fair Market Value Determinable?


Is it Market-Based? Check the check box if this applies.

Parent Real Estate Contract of Sublease Section

Note This section appears when the value of Lease Type is either Income Lease Sublease or Income Lease Third Party Lease.

Name In Name, enter a few characters of the parent real estate contract to take advantage of autocomplete, or click Find and select one.

ID The ID is taken from the parent record selected.


Critical Dates Section

Click the Calendar icon and select the Commencement Date, Construction Start Date, Expiration Date, Construction End Date, Rent Commencement Date, Occupancy Date, and Legal Notice Date, as appropriate. The system uses these dates to populate other fields in other sections and tabs in the Lease Abstract.

Note Soft Open Date and Grand Open Date appear when the value of Primary Use in the Details section is Retail. Click the Calendar icon and select the date.

Tip If you have auditable or percentage rent clauses, they need the Commencement Date and Expiration Date to calculate the amount due for the period you have occupied the property.

Premise Location Section

The purpose of this section is to provide a more detailed breakdown of the locations for the lease.

Click Find to identify location(s) in the Location Hierarchy and select from the choices.

Click Add to add a location without an association in the Location Hierarchy as a line item in the Premise Location section. Continue adding premise locations to this section, as needed.

Click the Linked Record icon if you want to modify that line.

Note Clicking the Linked Record icon opens the RE Contract Locations form. The form displays additional information not displayed in the Premise Location section, including Document Reference, Space Type and Premise Description information. Check the check box next to a line item and click Remove to delete the line item.

Premise Name Enter the Premise Name.

Included in Rent Check the check box if Included in Rent applies.

Note Selecting this check box determines how Total Rentable and Total Usable is calculated in the Location Summary section below.

Effective From Click the Calendar icon and select the Effective From date.

Effective To Click the Calendar icon and select the Effective To date.

Rentable (lease) Enter the overall area available for rent in the property. The UOM is set in the Units section.


Premise Location Section

Usable (lease) Enter the actual usable area in the property. The UOM is set in the Units section.

Location Summary Section

Total Rentable, Total Usable, Proportionate Share (calculated)

The system calculates Total Rentable, Total Usable, and Proportionate Share (calculated) from the items listed in the Premise Location section, when the record is saved.

Total Rentable is the default on the Generate Payment Schedules wizard and is the key to calculating the Cost per Area calculations.

Note Total Rentable and Total Usable is calculated only for those Premise Location section line items that have the Included in Rent check box selected.

Note Proportionate Share (calculated) needs the Total Area for Proportionate Share filled in to be calculated.

Total Area for Proportionate Share

In Total Area for Proportionate Share, enter the total area of the location being abstracted. The UOM value is set in the Units section.

Proportionate Share (contractual)

In Proportionate Share (contractual), enter the percentage of the location represented in this Lease Abstract.

Location Cost Code Section

Enter a few characters of the Location Cost Code to take advantage of autocomplete, or click the Find action on the section bar and select from the Location Cost Codes presented. Click OK.

Use the Clear action to erase the displayed information.

Tenant Section

This section displays the details regarding the tenant (lessee) of the site. You can specify the organization that is going to take possession of the site along with the contact person to whom all of the queries regarding the site should be directed.


Tenant Section

Tenant Contact Org Lookup

Enter a few characters of the tenant organization in the Tenant Contact Org Lookup field to take advantage of autocomplete, or click the Search icon to find the Organization.

The system populates the Tenant information from that Organization record.

Note You can click the hyperlinked field label to view/modify the record details.

Contact Lookup Click the Search icon to find the Contact Lookup.

The system populates the Contact information from that People record in the People page.

Organization Setup

Follow these steps to set up an Organization that is not already found in the Organization Hierarchy:

To Set Up an Organization

Step 1 If the Organization is not already set up in the Organization Hierarchy, click Create New Organization on the Tenant section bar.

Similarly, you can click this action from the Landlord, Management Company, and Guarantor section bars.

Step 2 Enter General information and Setup Details and click Continue.

In the Setup Details section, the system creates the new organization under the Parent Organization in the Organization Hierarchy and in the Organization Form Type specified.

The system populates the Tenant Contact Org Lookup field and related fields in the Tenant section. Similarly, the system populates the Landlord, Management Company, and Guarantor sections from their respective section bars.

Landlord Section

This section displays the details regarding the landlord (lessor) of the property. You can specify the organization that owns the property, along with the contact person to whom all the queries regarding the property should be directed.


Landlord Section

Landlord/Owner Organization Lookup

Enter a few characters of the name of the organization that owns the property in the Landlord/Owner Organization Lookup field to take advantage of autocomplete or click the Search icon to find the Organization.

The system populates the Landlord information from that Organization record.




Note To set up an Organization that is not already found in the Organization Hierarchy, refer to the Organization Setup steps above.

Click Create New Organization on the Landlord section bar. Enter General information and Setup Details and click Continue. The system populates the Landlord/Owner Organization Lookup field on the Lease

Abstract record.

Management Company Section

This section identifies the organization that will be responsible for supervising the proper functioning of the property defined in the lease.

Management Organization Lookup

Enter a few characters of the organization that provides management services for the lease in the Management Organization Lookup field to take advantage of autocomplete or click the Search icon to find the Organization.

The system populates the Management Company information from that Organization record.






Click Create New Organization on the Management Company section bar. Enter General information and Setup Details and click Continue. The system populates the Management Organization Lookup field on the Lease

Abstract record.

Guarantor Section

Guarantor Organization Lookup

Enter a few characters of the organization that guarantees the lease in the Guarantor Organization Lookup field to take advantage of autocomplete, or click the Search icon to find the Organization.

The system populates the Guarantor information from that Organization record.





Click Create New Organization on the Guarantor section bar. Enter General information and Setup Details and click Continue. The system populates the Guarantor Organization Lookup field on the Lease

Abstract record.

Default Remit To Section

This section identifies the organization that receives the lease payment.

Click the Update Payment Instructions action to update the Payment Instructions on the Payment Schedules that were created on the Lease Abstract with the Default Remit To information, if it is entered after the Payment Schedules have been created or the information has changed.


Default Remit To Section

Remit To Look Up Enter a few characters of the organization that receives the lease payment in the Remit To Look Up field to take advantage of autocomplete, or click the Search icon to find the Organization.

The system populates the Remit To information from that Organization record.


Tip The organization selected in this Default Remit To section will be used for the default Payment Instruction on Payment Schedules associated to this lease.

Abstract Notifications Section

Enter abstract notifications for this lease not covered in other sections.

To add a notification, click Add on the Abstract Notifications section bar. The system adds a line in the section.

Check the check box next to a line item and click Remove to delete the line item.

Additional Notice Addresses Section

Enter additional notice addresses for this lease not covered in other sections.

To add an address, click Add on the Additional Notice Addresses section bar. The system adds a line in the section.


Real Estate Lease Section

When this Lease Abstract record is completed, the system copies the information and creates a Real Estate Lease record. This section displays the Real Estate Lease. The fields displayed are: ID, Name, Lease Type and Status.


Other Dates Section

Enter significant dates for this lease not covered in other sections.

To add a date, click Add on the Other Dates section bar. The system adds a line in the Other Dates section.

Click the Linked Record icon if you want to modify that line item.


Date Type Click the Search icon for Date Type and select from the choices presented.

Date Click the Calendar icon next to Date and enter the date.

Description Enter a Description for the date.

Lease Abstract Exceptions Section

Enter Lease Abstract exceptions for this lease not covered in other sections.

To add an exception, click Add on the Lease Abstract Exceptions section bar. The system adds a line in the section.


Tip After entering information on the current tab, click the Save action on the record before moving to another tab.


Rent Tab The Rent tab contains lease details, rent clauses and rent schedules, default index adjustment values, percentage rent details, commissions and commission schedules, and commission clauses. The following describes each section in the Rent tab:

Lease Details Section

This section establishes basic rent clause information. Answer the following questions:

Does lease have index based adjustments?

If one applies, select Fair Market Rate Value or Index Adjustment.

If you select Fair Market Rate Value, the system adds the Fair Market Rate Value section to the Rent tab.

If you select Index Adjustment, the system adds the Index Adjustments section to the Rent tab. Refer to the Index Adjustments discussion below.

Does lease have Sales Reporting requirements?

If checked, the system adds Percentage Rent Clause, Percent Rent Setup, Sales Reporting Details, Sales Exclusions, Tax Exclusions, Allowable Deductions, and Percent Rent Schedules sub-tabs to the Rent tab.

Does lease have Commissions Due?

If checked, the system adds the Commissions and Commission Schedules sub-tabs, and the Commissions Clauses section to the Rent tab.

Rent Clause Sub-Tab & Section

When filled out, click Save on the Lease Abstract record.

Document References

Refer to the description of Document References below.

Clause Details Refer to the description of Clause Details below.


Rent Schedules Sub-Tab & Section

The Rent Schedules sub-tab displays the payment type, description, frequency, start date, end date, cost per unit, contract rentable, charge amount basis, expected cash pre-tax, total tax, expected cash total, and status of each payment scheduled.

You can add one rent schedule at a time using the Add action or several at once with the persistent Generate Payment Schedules wizard. The information captured is the same. Refer to the description of the Generate Payment Schedules wizard.



Historic Payment Schedules Sub-Tab & Section

The Historic Payment Schedules sub-tab displays the payment type, description, frequency, start date, end date, cost per unit, contract rentable, charge amount basis, expected cash pre-tax, total tax, expected cash total, and status of each historical payment scheduled.

Note The historical data cannot be manually added into the system, but needs to come from an external source.

If You Selected Fair Market Rate Value

Index Adjustments Section

Note If Fair Market Rate Value is selected for Does lease have adjustment type of, the system adds the Fair Market Rate Value section to the Rent tab. Refer to the Fair Market Rate Value discussion below.

If You Selected Index Adjustment

Index Adjustments Section

Note If Index Adjustment is selected for Does lease have adjustment type of, the system adds the Index Adjustments section to the Rent tab. Refer to the Index Adjustments discussion below.


If You Selected Sales Reporting

Percentage Rent Clause Sub-Tab & Section

Click Find Template to select templates to add.

Use the Clear action to erase the displayed information.


Document Reference

Refer to the description of Document References below.

Clause Details Refer to the description of Clause Details below.

Percent Rent Setup Sub-Tab & Section


First Reporting Start Date

For First Reporting Start Date, click the Calendar icon to specify the date.

Reporting Frequency

Click the Search icon for Reporting Frequency and select from the choices presented.

First Reporting End Date

For First Reporting End Date, click the Calendar icon to specify the date.

Billing Frequency Click the Search icon for Billing Frequency and select from the choices presented.

Reporting Only Check the check box if Reporting Only is true.

Natural Breakpoint Check the check box if Natural Breakpoint is true.

Due Within Click the Calendar icon for Due Within and specify the duration.

Cumulative Check the check box if Cumulative is true.

Landlord Audit Rights

Check the check box if Landlord Audit Rights is true.

Description Enter a Description.


Sales Reporting Details Sub-Tab & Section

The Sales Reporting Details section displays the sales category, effective from date, effective to date, base sales from, base sales to, and % rent of each sales report.

Click Add on the Sales Reporting Details section bar. The system adds a sales reporting line item. Continue clicking Add and entering sales reporting line items.


Sales Category Click the Search icon for Sales Category and select from the choices presented.

Effective From For Effective From, click the Calendar icon to specify the date.

Effective To For Effective To, click the Calendar icon to specify the date.

Base Sales From Enter the Base Sales From amount. The currency UOM is taken from the General tab.

Base Sales To Enter the Base Sales To amount. The currency UOM is taken from the General tab.

% Rent Enter the % Rent percentage.

Sales Exclusions Sub-Tab & Section

The Sales Exclusions section lists the sales category, exclusion category, and cap amount for each sales exclusion item.

Click Add on the Sales Exclusions section bar. The system adds a sales exclusion line item. Continue clicking Add and entering sales exclusion line items.


Sales Category Click the Search icon for Sales Category and select from the choices presented.

Exclusion Category Click the Search icon for Exclusion Category and sele