Authorize Lease – A summary of the activity

A lease is a contractual agreement under which a property owner allows a tenant to use the property for a specified period of time and rent. In commercial lease, apart from the rent component revenue is also shared by the customer.

This activity allows you to authorize the lease generated for a customer. The property details of the lease, applicable components for the properties, the values for rebates & charges and the values for deposit & advances of the lease can be updated in this activity before authorization. The status of the lease number is updated to “Active” on authorization.

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