Lease Component Events

Once the lease component has been activated, you can create a lease component-level event to add new terms. Note that adding a new term to the lease component does not have a financial impact. You must create an activation group event to exercise the new term.

Note: Cash incentive terms can only be added at inception, and cannot be added using a lease component event.

To enter a lease component-level event:

Open the required lease component.
Click Event in the lease component header.
Enter an Event Name in the Create Event pop-up and click Submit.
Make the required changes to the lease component. Note the following:
- To enter a cash incentive received after the ROU Start Date, use the Free Rent / Rent Reduction term.
Click Delta to review all the changes. Note that all existing terms appear as "Copied" in the draft.
Click Send to Approval.
The approver has the option to:
- Approve the draft by clicking Approve and reviewing the changes in the Event Modifications Summary pop-up.
- Send the draft back for changes by clicking Rework.

See also: