Leases with joint tenants, guarantors and several units
A lease holds the tenant, joint tenants, occupants, guarantors, one or more units, the term, the rent and how it is paid. Confirm it and the rent schedule, the deposit and the unit statuses follow.
PLANSEvery plan
The problem it solves
- Lease terms sit in a Word file, and the rent, deposit and end date are typed again in three places.
- A flat, a parking bay and a store room are three agreements for one tenant.
- Guarantors and occupants are names on paper that nobody can find when they are needed.
- Registration numbers and stamp duty are in a folder, not on the lease.
How it works
- Lease > Leasing > Leases > New. Choose the tenant, one or more units and the lease type.
- Set the term: start, end (empty for a periodic lease), Rolls On After the End, lock-in, the tenant's and the landlord's notice days.
- Enter the rent a month or a year (or per unit of area) and how often it is paid. Then enter the due day, cheques a year and the deposit in months of rent.
- On the Parties tab add joint tenants, occupants and guarantors; on Reviews and Breaks set reviews, rent-free periods, holdover and breaks.
- Press Confirm. The lease gets its number, a billing cycle, a deposit to take, and its units show Reserved.
- Move In when the tenant arrives (with the move-in check if you use one); the units show Let.
Everything it does
Lease types
- Residential - Fixed Term, Residential - Periodic, Commercial, Short Let, Corporate Let, Licence, Lump-Sum Lease
Parties
- Main tenant and the tenant's reference
- Joint tenants, jointly liable
- Occupants: name, relation, phone, ID number, birth date, note
- Guarantors: full, or up to an amount; signed or not; a note
- Permitted use
Term and rent
- Lease start and end; Rolls On After the End for month-by-month after the term
- Lock-in until a date; tenant notice and landlord notice in days
- Lease rent a month or a year, or per square foot or metre; Monthly Rent works itself out
- Paid Monthly, Quarterly, Half-yearly or Yearly; due day 1 to 28 (1 to start with)
- Cheques a year, deposit in months of rent (the deposit asked is monthly rent times the months)
Several units
- Any number of units on one lease, each with its own line
- Rent shared by area, or equally when an area is missing
- One bill for the lease, with a line per unit
Signing and registration
- Signed lease file and signed date
- Registered with (Ejari, Tawtheeq, sub-registrar, land registry), registration number and date
- Stamp duty
Checks on Confirm
- Refused without units, start day or rent (a lump-sum lease may have no rent)
- Refused when the end is before the start, or stepped rents are chosen without steps
- Rent Schedule button shows every bill before or after confirming
Lists
- Filters: Running, Drafts, Ending in 90 Days, Notice Given, Residential, Commercial
- Group by property, status or the month it ends
Who uses it
Lease userWrites, confirms and moves tenants in and out.
Lease ManagerSets the rules, settles deposits and sees every lease of the Entity.
TenantSees the lease, coming bills and the signed lease on their web page and in the app.
Where you use it
- Web: Lease > Leasing > Leases > Leases
- Tenant web page and the SmartMy Lease app (My Home): the lease, rent, deposit held and coming bills. (The app is built and in testing, not in the app stores yet)
- The SmartMy Lease Staff app: Today lists move-ins and move-outs with Move In and Move Out. (Built and in testing, not in the app stores yet)
- Not visible to joint tenants or guarantors on their own login. The tenant pages show leases of the main tenant (and people under the tenant's company)
What you control
Settings
- Lease type: Residential - Fixed Term to start with
- Rent per: a Month to start with
- Paid: Monthly to start with; due day 1
- Holdover rent: 100 % of the last rent to start with
Notifications
- Rental Confirmed: to the tenant when the lease is confirmed, by email, WhatsApp, SMS and in-app, where your messaging is set up
- Lease Ending: to the tenant and the property manager 90 days before the end of a lease. It goes when the lease is not renewed and has no notice, by email and in-app
- Each person can switch off a channel, such as email, for themselves; in-app notices always arrive
Works with
SmartMy SignSend the lease for signing online or sign it in person; see Leases signed through SmartMy Sign.
Questions
Can one lease cover a shop, a store room and parking bays?
Yes. A lease has a line per unit and bills them together. The rent is shared between them by area, or equally when an area is missing.Can we record joint tenants and guarantors?
Yes. Joint tenants are jointly liable contacts on the lease. Guarantors are listed with full or limited liability, the limit and whether they signed.Can a lease run month to month after the fixed term?
Yes. Tick Rolls On After the End. Without it, a tenant who stays past the end is billed holdover rent at the percentage you set.Do joint tenants get their own login?
Not to the lease itself. The tenant pages and the app show leases of the main tenant and of people under the same company contact.Related features
LEASES AND RENTLeases signed through SmartMy SignSend a lease for signing online from the lease itself. The tenant and your signer each get their own link, confirm a one-time code and sign. The signed PDF with its audit trail comes back to the lease.LEASES AND RENTRent schedule in advance or arrears, with rent-free monthsA confirmed lease bills itself from a schedule: monthly, quarterly, half-yearly or yearly, in advance or in arrears. Part periods go by the calendar, and stepped rents, rent-free periods and holdover worked in.LEASES AND RENTRent reviews, stepped rents and price indexesEach lease carries its own rent increases. Use a share or an amount every so many months, or stepped rents from set dates. Or use a price index such as CPI with a floor and a cap. Bills pick up the new rent on the day it starts.LEASES AND RENTRenewals, breaks, holdover and notices to vacateRenew a lease with a new term and rent, and offer it to the tenant on their page. Let the new lease take over on its first day. Break options, holdover rent and notices to vacate each have their dates.CHECKS, DEPOSITS AND REPAIRSDeposits, deductions and settlementThe deposit is held on a liability account, taken in one go or in parts. At move-out, deductions are proposed from the check. The tenant agrees or disputes each line online. Settle Deposit keeps what is agreed and refunds the rest.LEASES AND RENTLump-sum leases: bhogya, otti and jeonseSome tenants pay one large sum instead of rent and get it back at the end. The sum is held as a deposit. It can come in parts and is returned at the end. You are reminded 90, 30 and 7 days before it falls due.
See your buildings on it.
Tell us how many properties and units you have, whether you let your own or manage for owners, and how rent is paid today. We will set up your portfolio with you on SmartMy Lease.