You can add multiple leases with the data import function or one at a time through the interface.
How to import multiple leases
The easiest way to bring multiple leases into Assetti is to use our import function.
- Download a Lease template from import portal.
- Fill in the downloaded 'Lease template'. It's a good idea to input as much information as possible, but to import the file, the following columns are mandatory:
- Contract ID (column A)
- Unit ID (column C)
- Tenant name (column D)
- Property name (column E)
- Cost Center (column F)
- Rent (column K)
- Lease start date (column P)
- Surface area (column AO)
- Save the completed template.
- Import the file back to Assetti using the import portal.
- Select Rent roll for leases when choosing the file's type.
How to add a lease through the interface
Before we get started:
- Tenants need to be in Assetti before you can add them to a lease. See how to add a new contact.
- You can't select properties that doesn't have any units. See how to add a unit.
- Click on the Leases on the left side of the main view.
- Click the +ADD button in the upper right-hand corner.
- In the lease window, fill in the basic information. The following fields in bold are mandatory to create the lease:
- Tenant: Select the correct tenant from the drop-down list.
- Create a new contact for a new tenant if needed.
- Lease status: add the status of a lease here based on which stage of the agreement it is in (e.g. Proposal, Inquiry, or Sign-off, etc.)
- Lease ID: A unique collection of numbers and/or to identify your new lease.
- Property: Select which property the lease is connected to.
- Add units to the property if it doesn't already have them.
- Lease Term: Select what terms you have for the duration of your lease from the drop-down menu. You can also add a new type of lease terms in 'settings.'
- Lease Start Date: The beginning date of the lease
- Lease End Date: If your lease has an end date, you can enter it here.
- Notice Period: How many months your tenant has to let you (the landlord) know about their intention with the property or how many months you have to give the tenant about your intentions.
- If you do not define a notice period and your lease is set to 'until further notice', the default will be set to 3 months.
- Lease comments: Freestyle text associated with the lease
- Index Type: The type of indexation based on which rent is adjusted. You can select which index from the drop-down menu.
- If you add an index type to a lease, 'Adjustment term' must be filled in.
- Adjustment Term: A specific term used to adjust the rent of your lease.
- Tenant: Select the correct tenant from the drop-down list.
- Click Save to create a lease.
- You can now link your units to the new lease.
To add one single lease:
- Open Leases view from the left side menu,
- Click +ADD button on upper right corner,
- In the editing popup, fill in basic information of your lease. Highlighted fields are mandatory.
- Tenant: fill in at least Lease ID and select Tenant and Property Name from drop down list. Notice: you need to create a new contact for new tenant before you create a new lease, see how to create a contact
- Lease status: you can add status of a lease here based on which stage of the pipeline it is at (e.g. Proposal, Inquiry, or Sign-off, etc.)
- Date: fill in at least lease's start date. Notice: if your lease term is Until further notice, please fill in notice period in this stage, otherwise it will be set as default notice period of 3 months, see how to change default notice period
- Property: adding a property which the lease is for is required. Notice: you cannot select a property that doesn't have any units in Assetti database, see how to create a unit
- Lease terms: select specific terms of your leases from default list. You can also add new type of lease terms through settings.
- Indexation: if you choose to add Indexation type to a lease, Adjustment term must also be filled in.
Click Save at this step to create the lease, if you stop here, it will be saved as Pre-lease.
To complete unit and rent information of your lease:
1. Either (1) choose Contract tab and edit lease by clicking Pen icon above Lease information table. In the last two rows of this table you can choose formats of your rent input:
- Rent format: if a lease has more than one unit, this determine if your rent input is per unit (Unit rent) or sum of all units (Total rent).
- Rent input: this determine whether you want to input monthly rent (Rent per month) or monthly rent per square meter (Rent per area).
Notice: the default values of these formats are determined in your setting, to change the default values, go to Settings from your Username drop down list > Select Leases from list of settings > Rents > Choose the default Rent format and Rent input then Save to make changes.
After updating rent formats, click Edit rents button to add unit and rent information.
- Or (2) click on a notification link on top of the lease which says “Lease agreement is missing rent. Add rent.”
- First is unit selection view where you can select unit(s) for the lease by clicking Link button on the row of each unit, then Save to continue. Notice: you can link one or multiple units to a lease, please notice to link only units which Vacant status is Yes. Available units are those exist in your account, when editing from the UI make sure your unit data are up-to-date.
- Next is edit rental period view, input rent(s) excluding tax and VAT% for the lease then Save. Notice: If a lease has multiple units, remember to add rents to all units by selecting the unit row on the left side of editing table.
- If you want to add or remove a unit at this point, click on Select units button on bottom left corner to reopen unit selection view. Click on Unlink button to deselect a linked unit or Link button to select another unit. Then Save to go back to rent editing view.
- After finish with rent inputs, navigate back to lease factsheet by closing the edit rental period view from X button on top right corner.