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From the Lease Portfolio Console and the Portfolio Dashboard, you can receive alerts or email notifications when options are about to expire. Lease option data is also included on the Lease Abstract report.
You can associate a document with the option; for example, the file for the page of the lease that describes this option. See Lease Portfolio Console. Before entering options using these tasks, you select the lease for which you are entering the option.
Procedure Click Add New at the top of the Options panel. Complete the following fields: Description Enter options Code Enter a code to uniquely identify this option for a particular lease.
This field, along with the Lease Code, forms the primary key of a Lease Option record. Description Enter or select a short description of the lease option, such as "Expansion to fifth floor. Date Issued Indicates when the option was issued. Option Dates Match Lease?
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Select Yes if the option start date is the same as the lease start date. Who Can Exercise?
Select whether the landlord, the tenant, or both can exercise the option. Date Exercising Applicable Date that the option is effective. Date Exercised- The date enter options option was exercised.
Exercised By The user who exercised the option. Date to Review Enter the date that the lease option should be reviewed, typically a date two to three months prior to the option date. This date is shown on the Lease Option Details pop-up window accessed from the Alerts section of the Portfolio dashboard.