Lease Break Clauses

LogiPro enables you to manage lease break clauses on a lease and see at a glance when the next lease break date is.  Reminders are generated when lease break dates are coming due or have passed. 

Break Clause Setup

For leases with break clauses, tick the Included: checkbox to display the Lease Break Clauses tab.

When the Included: checkbox is ticked, the user must enter at least one break clause with a notice period.

Note: if the user unticks the Included: checkbox, break clause details are retained but are not active.

From the Lease Break Clauses tab, click Add to add the lease break clause details.

When a Break Date passes, the Next Break Date and Notice Period are updated in the lease Break Clause section.

Note: If all break dates have already passed, an All break dates have passed  message displays. 

Reminders

Before a Notice Period is due, a reminder generates according to the Notice Reminder Days specified in the Lease Break Clauses tab.

Before a break date passes, a reminder generates according to the Break Reminder Days specified in the Lease Break Clauses tab.

When the Break Date expires, a reminder generates updating the user that the notice period for the lease break date has passed.

If the Notice Reminder Days or Break Reminder Days are left blank, a reminder is triggered on the day the notice/break is due.

If the user enters a Notice Received Date, the user must click Edit to enter an Actual Lease End Date in order to save the lease.

Permissions

Permission to Extend Lease End Date has been added to the Users > User > Permission > Administration. Users with this permission can change the end date of a lease even after the lease ended.

Released in version 2019.5.15.6044 on 5.6.2019.

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