Managing a lease on a unit
A lease is a contractual arrangement between a lessor (the owner or provider of an asset) and a lessee (the renter or user of the asset) that grants the lessee the right to use the asset for a specified period of time, in exchange for periodic payments.
In a lease agreement, the terms and conditions regarding the duration of the lease, the amount of rent or lease payments, responsibilities for maintenance and repairs, and other relevant terms are outlined. These terms are used within Built to support various workflows such as making funding decisions for tenant improvements or leasing commission allowances, creating rent rolls and calculating cashflow.
Note: Ensure that:
• A deal is created.
• Full access is provided to the following Asset Management permissions:
• Property Tracking
• Units
• A property is added to a deal.
• A unit is added within a property.
• Tenants are added to the Contacts.
This topic includes the following sections:
