If you are located in North America, you will have slightly different buttons and terminology:
- Tenancies are referred to as Leases
- Terms & Breaks within a Tenancy is called Terms & Options
- The button to Add Lease Break is called Add Lease Option
For the purpose of this article, we will refer to it as Tenancies and Terms & Breaks. For more information on regional terminology, refer to this article or contact support.
Create a Lease Break
If a Lease Break Clause has been included in the Tenancy Agreement, this can be recorded alongside the terms of the tenancy from the Terms & Breaks tab of the Tenancy Details. Click the 3 dots (more actions) icon, then Add Lease Break.
There are two options available for breaks - Fixed Breaks or Rolling Breaks.
You can have multiple Fixed Breaks dates. The Final Notification date for each break will be calculated from the Final Notification Period, which can be any number of days, weeks or months.
To automatically generate break dates, click Generate Lease Breaks and enter the occurrence and final notification periods. The system will calculate the number of breaks required determined by the term start and expiry dates.
Rolling Breaks can be exercised at any time after a certain date. To create a Rolling Break you will need to specify the Rolling As At Date and the required Notification Period.
You can also have a combination of Fixed and Rolling breaks, as long as the Rolling date is after the last Fixed Break date.
Once all your break dates are set up, they can be viewed from the Terms & Breaks tab.
Lease Break Calendar Events
Lease Break events will be added to the calendar so you will receive a reminder of the Final Notification date.
You can either exercise the option or mark the event as complete without exercising.
Exercise a Break Option
You can exercise the break option from two locations - from the calendar event pop-up or from the Terms & Breaks tab within the tenancy file.
Fixed breaks can be exercised anytime up to the notification date. A Rolling Break can be exercised any time after the Rolling Break date.
Once you have entered details for the notice served, you can either continue on to vacate the tenancy at the same time or save the Exercise Option details and complete the vacate at a later time. Choose which option by using the toggle below.