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
For the purpose of this article, we will refer to it as Tenancies, Terms & Breaks. For more information on regional terminology, refer to this article or contact support.
View and adjust tenancy terms by selecting Terms & Breaks on the left menu.
Creating a new term
Where a tenancy has an existing term, you may add new terms as described below, or renew the current term.
Renewing the term offers the opportunity to adjust the rent and add rent reviews. Adding a new term is appropriate where no adjustment to rent or future rent reviews is required.
1. Click + New Term
Enter the initial term details of the tenancy, and if the Lease agreement specifies Rights of Renewal, click Add Right of Renewal.
You can click as many times as you need to add all the renewals specified in the Lease agreement. If your Lease specifies that the renewals come with an Option expiry date, tick the box to enter the details around when this option expires. Your dashboard calendar will be populated with reminders aligning with the Option expiry date and the Remind me date you specify here.
If you need to remove a Renewal, click the red trash icon.
Click Save to confirm and create the new Term.