Company Settings: Lease Settings
Navigate to Company Settings>Lease Settings
On this tab, you will find a collection of default Lease Settings. These pre-sets will automatically populate when you create a new lease in the solution.
This information is however fully customisable when loading your individual leases. You can configure the following lease defaults on this screen.
Lease Defaults
You have the flexibility to adjust all these pre-set amounts when creating a new lease. Alternatively, if you do not charge a particular fee, you can opt to retain the default value as either R0 or 0% in the relevant field(s).
| Field | Description |
| Default Commission % (Excl Vat) | The system’s default commission percentage is automatically entered into the Commission % field of a new lease. |
| Excluded Commission Categories | This setting is ONLY applicable to clients making use of the Percentage of Collection commission calculation method. You can choose which Categories should be excluded from the calculation by selecting them from the drop-down list. Please refer to the article ‘Commission types explained’. |
| Deposit Factor | The solution employs the deposit factor to calculate the standard damage deposit value according to the lease’s monthly rent specified. For instance, a deposit factor of 1.5 will equal a damage deposit equivalent to one and a half month’s rent. |
| Renewal Escalation % | The default Renewal Escalation Percentage used by the system to determine the increase in a lease’s rent upon its next renewal. |
| Services Deposit Amount | The default Service Deposit Amount serves as an additional deposit (e.g. utilities) that can accompany the damage deposit. |
| Key Deposit Amount | The default reimbursable Key Deposit fee paid by a tenant to obtain the keys for the Asset (property). |
| Lease Fee (Excl Vat) | The default Lease Fee to be billed by the system for the costs related to processing the tenant’s application, this amount can be adjusted during the lease creation. |
| Renewal Fee (Excl Vat) | The default Renewal Fee billed to an existing tenant renewing their lease agreement for another term. |
| Renewal Alert (Days before end of terms) | To improve proactive lease renewal management, you can specify the number of days before a lease term ends to trigger a system reminder on your solution's Home Dashboard. Renewals that are due can be filtered for on your Leases dashboard. |
| Escalation Alert (Days before end of terms) | The period in days before the end of the Lease Terms on which you wish to receive an Escalation Alert on the WeconnectU Dashboard. Escalations can be filtered for on your Leases dashboard. |
To save the default settings supplied, click on the Save button at the bottom of the screen.
Please refer to the article ‘Creating a New Lease’ to set up a new lease and adjust the above default values.
Lease Addendum Settings
A lease addendum can be added to an existing lease should you require any addition, modification or clarity to any of the terms and conditions of the general lease agreement.
| Field | Description |
| Lease Terms Addendum Name | This is the heading that will be displayed at the top of the Lease Terms Addendum document. |
| Custom Lease Terms Header Clause | This is the clause that will be displayed directly below the Lease Terms Addendum heading, and it should be used to refer back to the standard set of lease terms. |
| Lease Renewal Addendum Name | This is the heading that will be displayed at the top of the Lease Renewal Addendum document. |
| Custom Lease Renewal Header Clause | This is the clause that will be displayed directly below the Lease Renewal Terms Addendum heading, and it should be used to refer back to the standard set of lease terms. |
| Attachment: Custom Lease Addendum Documents | Here you can upload your company's standard terms. You can upload standard lease terms for Commercial, Residential CPA, and Residential Non-CPA leases. These standard terms will be combined with the Lease Addendums and Renewal Addendums to create a single PDF document that can be emailed from your WeconnectU solution to both Tenants and Landlords. Please ensure that this document is in PDF format. |
Additional reference available, please refer to article 'Setup for your Lease and Renewal Addendums'
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