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LV Lease Variation

Warren Hamilton
Warren Hamilton
  • Updated

Make modifications to the system by changing the contractual terms of an existing lease and generate the respective financial adjustments.

 

Requirements

Prior to creating a lease variation, the following set up should have been completed first:

 

Navigation

1. From the homepage, go to Tenancy module.

2. Navigate to the Lease Variation and select Lease Variation.

 

 

Creating Lease Variation

1. Select the Lease to be modified: input the lease number, varied lease term and modification reason.

2. Check the types of variation to perform. Once selected, proceed to the Variation Details tab. Based on the type of variation chosen, the details to modify will vary.

  • Business Key Information - change in usage type, brand, preferred / shop name, trade type, sub-trade type and anchor type
  • Lease Term Period
  • Lease Spaces 
  • Fixed Rent Component 
  • Percentage Rent Component
  • Recurring Billing Option
  • Deposit
  • Optional Information
  • Clause Agreement

2. Edit the monthly charges once the contract period is changed.

3. Edit the monthly rebates if any.

4. Edit the deposit amount if there are any top ups. You may also add banker’s guarantee or deposits to be guaranteed by other leases.

5. If there is a change in GTO rates, you may add/modify the rates accordingly.

6. For any re-survey of area, enter the new re-surveyed area. A Lease Re-surveyed record will be generated once the variation is approved.

7. Lastly, add additional one time charges if any.

8. Submit for approval when done.

 

 

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