Lease Overview & Structure

The Lease Notebook is created from either the Prospects Navigator or the Units & Leases Navigator and is pre‑populated by property/unit defaults (terms, deposits, repeating, meters, late fees) and by prospect data when applicable. It drives rent posting, late fee generation, renewals, move‑outs, recurring charges/concessions, and reporting


Creating New Leases

Creating a Lease from the Prospects Navigator 

(Requires the Prospect CRM module.)
Use this method when the applicant was previously entered as a prospect. Steps:

  • Open Prospects on the Navigator.
  • Select the correct prospect.
  • Double‑click Move In under Activities.
  • Accept the held property/unit (if one exists).
  • ○ To release a held unit: Units Shown/Held → Release.
  • If no unit is held, select the property/unit from the list.
  • The Lease Notebook opens, pre‑populated with prospect data.
  • All contact and financial information transfers automatically.
  • Important: After the lease is created, do not continue editing information on the Prospect record. All updates must be made in the Contact or Lease notebook 

 

Creating a Lease from Units & Leases Navigator 

Use this method when there is no prospect record. Steps:

  1. Open Units & Leases.
  2. Select the property/unit (expand multi‑unit properties).
  3. Choose Create a New Lease for This Property/Unit.
  4. Confirm the selection.
  5. The new Lease Notebook opens 


Lease Tabs (Lease, Dates, Charges, Contacts, Media, etc.)

Lease Tab — Required Setup 

1. Start & End Dates

  • Monthly leases require both a Start and End Date.
  • For month‑to‑month leases, set End Date = Start Date + 1 day.

Example: Start = 10/1/2016 → End = 10/2/2016.

  • 10/1–10/2 = Current
  • 10/3 onward = Month‑to‑Month) 


2. Frequency, Day Due, and Rent Amount
These default from Def‑Terms on the Property or Unit Notebook. PMs should verify the amounts match the signed lease and edit if needed. Defaults help ensure consistency and reduce input errors 


Dates Tab — Critical Lease Mechanics 

This tab determines how:

  • Rent charges calculate
  • Late fees generate
  • AutoPost schedules behave) 


1. Next Rent Post Date
 Initially equals the Lease Start Date. Rules:

  • If start date = 1st → full month charge
  • If start date ≠ 1st → charge prorates
  • After first charge, the date automatically updates to the next month’s Day Due) 


2. Rent Paid Thru Date
 Always = One day before Next Rent Post Date. Used by late fee logic:

  • If rent is paid in full, date auto‑advances to month end
  • If not paid, date stays unchanged → late fees will trigger) 


Charges / Repeating / Deposits / Media / Contacts 

  • Security Deposit Prompt — When navigating away from the Lease tab: a window appears listing default deposits defined in Def‑Deposits. PM may accept, modify, or uncheck; deposits not selected can be added later in the Lease Register 
  • Tenants/Contacts Tab — Add/edit tenants, adult occupants, guarantors, authorized contacts; assign Statement Delivery Method and Web Portal access. If created from a prospect, the primary tenant appears automatically 
  • AutoPost Transactions Message — If the lease start date is before today, PropertyBoss prompts to post rent immediately. Yes posts rent; No adds the charge to PropertyBoss Today → AutoPost) 


Monthly Leases 

The process for a standard monthly lease:

  • Create from Prospects (if the tenant already exists as a prospect) or from Units & Leases.
  • On the Lease Tab, set Start & End Dates (Month‑to‑Month uses End Date = Start + 1 day).
  • Verify Frequency, Day Due, and Rent Amount (defaulted from Def‑Terms).
  • Assign Assets if prompted; Security Deposit prompt appears when navigating off the Lease tab.
  • Add Tenants/Contacts; set statement delivery and web portal access.
  • If start date is before today, the system prompts to post rent now or send to AutoPost 


Non‑Monthly Leases 

PropertyBoss supports several non‑monthly rent frequencies:

  • Weekly
  • Quarterly
  • Semi‑Annual
  • Annual

The process is identical to setting up a monthly lease—the only differences appear on the Dates Tab 


Weekly Lease Rules 

1. Next Rent Post Date

  • Must equal Lease Start Date.
  • If Start Date = Day Due → full‑week rent
  • If Start ≠ Day Due → prorated rent
    • Example: Start = Tuesday, Day Due = Sunday → charge prorates for 5 days
    • After the initial charge, the date automatically advances weekly 

2. Rent Paid Thru Date

  • Always = 1 day before Next Rent Post Date
  • Advances to the end of the week once rent is paid


Quarterly Leases 

Quarter Definitions: Set in Def‑Terms → Fiscal Year Start Month. 

Two options:

  • Specific month (e.g., January → quarters start Jan/Apr/Jul/Oct)
  • Lease Anniversary (quarters begin on the lease start month) 


Proration Example: Lease start: Oct 27; Quarter starts: Oct 1 → prorated for 4 days. Next Rent Post Date advances to the next quarter’s first month 


Semi‑Annual Leases 

Periods must be defined in Def‑Terms. 


Proration Example

  • Lease start: Sept 1; Semi‑annual period begins July 1 → prorated for 4 months. 
  • Next Rent Post Date always advances to the next semi‑annual period start date 


Annual Leases 

Annual period definitions mirror semi‑annual/quarterly settings. 


Proration Example

  • Lease start: Mar 2; Annual cycle start: Jan 1 → Prorated for 2 months + 1 day. 
  • Next Rent Post Date advances one full year 


Recurring Charges & Recurring Concessions

This section explains how to configure recurring (repeating) charges and recurring concessions on a lease. These items automatically post on a defined schedule and are ideal for fees or credits that occur regularly, predictably, and for the same amount each time. These settings are located on the Lease Notebook → Charges Tab → Change Other Repeating Charges


Recurring (Repeating) Charges 

Recurring charges are used when:

  • The charge amount never changes
  • The tenant is billed on a consistent schedule (e.g., each month)
  • The charge should be posted automatically through AutoPost
     

Common Examples:

  • Monthly cable fee
  • Monthly garbage pickup
  • Flat recurring admin fee
  • Scheduled installment payments (e.g., six equal repair payments)

 

NOT appropriate for recurring charges:

  • Utility usage charges (water, gas, electric) that vary
  • One‑time fees (application fees, move‑in fees)


Important Concept — No “Effective Date”
Unlike Rent Due changes, recurring charges cannot be scheduled for future dates. Changes take effect immediately. Because of this, recurring charges do not appear as scheduled changes on the A420 Scheduled Charges Comparison Report. 


How to Create a “Scheduled” Change

  1. Edit the existing recurring charge → add a No charges after date
  2. Create a new recurring charge → set a No charges before date for the new amount
    1. Example: Cable fee increases from $50 → $60; set end date for $50; add new $60 with start date matching next cycle)

How to Create or Edit a Recurring Charge 

  1. Navigator → Units & Leases
  2. Select property/unit → open the lease
  3. Edit This Lease → Charges tab
  4. Change Other Repeating Charges
  5. New Repeating Charge
  6. Fill in: Transaction Name; Frequency (e.g., 3 Months=quarterly, 6 Months=semi‑annual, 1 Week=weekly); Day of Month (if monthly/multi‑month); Amount (fixed every cycle); Reference (optional); Pro‑Rate (optional); Comments; No charges before/after (optional); Next Post Date (required); Vendor (only if a bill should be created)
  7. OK
  8. Optional: Post Now to push the first charge immediately


Recurring Concessions 

Recurring concessions function exactly like recurring charges, but they credit the tenant rather than charge them. Typical uses:

  • On‑site employee rent credit
  • Security officer housing discount

Restrictions for 3rd‑party management:

  • Concessions given by the owner cannot be set as recurring
  • PropertyBoss only allows recurring concessions from the management company


Accounting Impact — Who Gets the Money?
When managing for 3rd‑party owners, it is critical to ensure the transaction type is defined correctly. Recurring charges may route income to:

  • The owner, or
  • The management company

This determination is made by: Setup Preferences → Define Transactions → Define Lease/Prospect Transaction


Subsidized / Agency‑Paid Rent

  • Enable Use Subsidies
  • Tenant and agency billed separately
  • Charges post based on effective date
  • Warnings for non‑1st‑of‑month dates
  • Audit via A411/A420
  • Never mix tenant/subsidy payments. 
  • Located in Setup a Lease with Recurring Charges or Concessions / Lease Setup materials.


Lease Renewals & Expiration Tracking 

Purpose: Tracking upcoming lease expirations helps PMs:

  • Anticipate vacancy
  • Schedule renewal notices
  • Ensure rent increases are applied
  • Prevent leases staying active beyond end dates


PropertyBoss uses two primary dates to support renewal workflows:

  1. Lease Ends (Lease Tab)
    1. When in the future → Lease Status = Current
    2. When past → Status changes to Month‑to‑Month
    3. PM may: Keep as M2M; Renew the lease; Start the Move‑Out Process
    4. This is the primary date used for standardized renewal cycles (ex: “send renewals 90 days before Lease End”) 
  2. Renewal Due By (Dates Tab)
    1. Used when tenants have differing notice requirements (ex: 30 days, 60 days). 
    2. The A156 Renewal Report uses this date.


Reports for Tracking Renewals


From Viewing Reports:

  • A110 Lease Activity Report
  • A140 Expiration List
  • A156 Renewal Report
  • A450 Property Status Summary) 


Tracking Expirations via RentRoll (Merlin Reports):

  • PMs can build custom expiration lists using RentRoll:
    • Open RentRoll Navigator
    • Modify Report → Layout
    • Add fields such as: Lease End Date; Renewal Due By; Status; Next Rent Change Amount/Date
    • Add Filters
    • Save as a new custom report
    • This custom list allows direct navigation to the Lease Notebook—unlike static Viewing Reports 


Security Settings

PMs must have access rights from Units & Leases Navigator to update Lease Dates and Renewal settings

 

Move‑Out Process (End a Lease)

The Move‑Out Process is an 8‑step workflow (documented separately) that PMs may complete steps at different times; preferred method handles transfers, final charges, and reconciliation. (See also Transfer & Move‑Out examples.) 


For student housing and similar situations, leases beginning mid‑month may incorrectly accumulate late fees. Solution:

  • Update the Paid Thru Date to the first of the month
  • Or perform a RentRoll → Mass Change Lease Dates) 


PropertyBoss will only look back 90 days when applying late fees to unpaid historical charges 


Late fees are not deletable from AutoPost. 

  • To block fees: enter a Manual $0 Late Fee or a Waive Late Fee note 


Lease Transfers Between Units 

Purpose: PropertyBoss fully automates the accounting when a tenant transfers to a new unit. This depends on:

  • the tenant’s existing balance,
  • the transfer date,
  • the security deposit status,

PropertyBoss posts a sequence of credit, debit, reversal, and transfer transactions to both lease registers) 


What Happens During a Transfer

If PM selects “Transfer Tenant Balance & Security Deposit”, the system may automatically post (varies by scenario):

  • Deposit Return (Credit SD to Lease)
  • Transfer to New Unit (deposit portion)
  • Transfer to New Unit (balance portion)
  • Reversal of Rent Due
  • Prorated Rent Due
  • New Rent Due for new unit
  • New Security Deposit for new unit (based on Def‑Deposits)


Key Rules You Must Know

  1. Security Deposits
    1. If the new unit has a default deposit, PropertyBoss posts a Security Deposit charge on the new lease.
    2. If the deposit differs from the original, the transfer may result in a credit or a balance due 
  2. Rent Charges
    1. If the tenant moves on the 1st, the system posts the full rent amount.
    2. If mid‑month, PropertyBoss automatically reverses the original Rent Due and posts prorated rent 
  3. Balance Transfer Logic
    1. Any unpaid charges or credits are automatically moved using Transfer to New Unit transactions
  4. Examples
    1. Example 1 — $0 Balance, Transfer on 1st
      1. Deposit returned and transferred; rent remains unchanged (full month); new lease posts full rent & new deposit.
    2. Example 2 — Mid‑Month Transfer
      1. September Rent Due reversed; prorated rent posted (14 days); two transfers posted (deposit; remaining credit balance).
    3. Example 3 — Beginning Balance Due
      1. Deposit + interest transferred; Transfer to New Unit adjusts unpaid charges; new lease shows remaining balance due.
    4. Example 4 — Beginning Credit Balance
      1. Deposit transferred; Full Rent Due reversed; prorated rent posted; multiple transfer entries applied to new lease.
  5. PM Best Practices
    1. Always verify transfer entries correctly applied to Security Deposit
    2. Check proration
    3. Audit residual credits
    4. Confirm new lease defaults (Deposits, Terms) before transfer 


Lease Reports 

Relevant lease‑focused reports:

  • A110 Lease Activity Report – Move‑ins and move‑outs for date range
  • A140 Expiration List Report – Leases expiring soon
  • A156 Renewal Report – Tenants due for renewal
  • A185 Move‑Out Reconciliation Report – Final accounting
  • A186 Move‑Out Comments Report – Move‑outs grouped by reason
  • A158 Current Lease Listing – Active tenants & details
  • A240 Lease Abstract – Full lease details


View Rent Changes (operational tool)

  • Review upcoming scheduled rent changes; apply (implement) changes early; prevent posting old amounts
  • PropertyBoss Today → Scheduled → Actions → View Rent Changes
  • Viewing vs. Implementing = Independent


Viewing Transaction History (audit tool)

  • Source tree (tenant payment → charge → distributions)
  • Applied tab
  • History tab (metadata, accounting interface)
  • Change Log 


Viewing Reports Navigator

  • 100+ built‑in reports
  • Available: custom groups, filters, scheduled reports, Excel export, print options