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LNLease Novation

Warren Hamilton
Warren Hamilton
  • Updated

Make modifications to the system by changing the customer of an existing lease with no financial impact to the lease.

 

Navigation

1. From the homepage, go to Tenancy module.

2. Navigate to the Lease Variation and select Lease Variation (Same Lease ID).

 

Creating Lease Novation (Existing Lease)

Lease novation using existing lease allows for the new customer to use same lease ID, existing lease term, fixed rent component, deposit, etc.

1. Click the Create New button and search the existing lease. Once the lease is selected, the system will show the previous customer associated with the lease.

2. Select the new customer for the lease novation.

3. Input the novation date and modification reason.

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

5. Submit for approval when done.

 

 

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