Creating a New Lease

Creating a New Lease in Leaseora

Leaseora simplifies the process of creating and managing lease agreements. This guide will walk you through the steps to create a new lease, customize lease terms, set up payment schedules, and manage lease documents.

Lease Creation Process Overview

Step 1: Initiating Lease Creation

To start creating a new lease:

1. Log in to your Leaseora dashboard
2. Navigate to the "Leases" section in the main menu
3. Click the "Create New Lease" button in the top right corner
4. This will open the lease creation wizard that will guide you through the process

The Create New Lease button in the Leases section

Step 2: Selecting Property and Tenant

In the first step of the lease creation wizard, you'll need to select the property and tenant:

1. From the dropdown menu, select the property for which you're creating the lease
2. If the property has multiple units, select the specific unit
3. Select the tenant(s) who will be on the lease
   • You can add multiple tenants if more than one person will be on the lease
   • For each tenant, specify if they are a primary tenant or co-tenant
4. Click "Next" to proceed to the lease terms

Step 3: Defining Lease Terms

Next, you'll need to define the key terms of the lease:

• Lease Type: Select the type of lease (e.g., fixed-term, month-to-month)
• Lease Start Date: The date when the lease begins
• Lease End Date: For fixed-term leases, the date when the lease expires
• Rent Amount: The monthly rent amount
• Rent Due Date: The day of the month when rent is due
• Security Deposit: The amount of the security deposit
• Late Fee Terms: Define when and how much to charge for late payments
• Prorated Rent: If applicable, set up prorated rent for partial first month
• Additional Fees: Add any other recurring or one-time fees

For each of these terms, Leaseora provides guidance and default values based on industry standards and your previous leases, but you can customize them as needed.

Step 4: Customizing Lease Clauses

Leaseora provides a comprehensive set of standard lease clauses that you can customize:

1. In the "Lease Clauses" section, review the default clauses provided by Leaseora
2. For each clause, you can:
   • Keep the default language
   • Edit the clause to customize it for your needs
   • Remove the clause if it's not applicable
3. Add additional custom clauses by clicking "Add Custom Clause"
4. Organize the order of clauses by dragging and dropping them

Common Lease Clauses

Here are some of the standard clauses included in Leaseora's lease templates:

Step 5: Reviewing and Generating the Lease

Once you've defined all the lease terms and customized the clauses:

1. Click "Preview Lease" to see how the final document will look
2. Review all sections carefully to ensure accuracy
3. Make any necessary adjustments by going back to the relevant sections
4. When you're satisfied with the lease, click "Generate Lease Document"
5. Leaseora will create a professional PDF document with all the terms and clauses you've specified

Step 6: Signing and Activating the Lease

Leaseora offers electronic signature capabilities to streamline the lease signing process:

1. After generating the lease, click "Send for Signature"
2. Select the signing method:
   • Electronic Signature: Sends the lease to all parties for electronic signing
   • Manual Signature: Allows you to download the lease for physical signing
3. For electronic signatures:
   • The system will send email notifications to all parties
   • Each party can review and sign the document online
   • You'll receive notifications as each signature is completed
4. For manual signatures:
   • Download and print the lease document
   • Collect physical signatures from all parties
   • Upload the signed document back to Leaseora
5. Once all signatures are collected, click "Activate Lease"
6. The lease is now active and will appear in your active leases dashboard

Managing Lease Addenda

You can add addenda to your lease for specific situations or requirements:

1. From the lease details page, click "Add Addendum"
2. Select the type of addendum from the available templates:
   • Pet Addendum
   • Roommate Addendum
   • Lead-Based Paint Disclosure
   • Smoking Policy Addendum
   • Custom Addendum
3. Complete the required information for the selected addendum
4. Generate the addendum document
5. Send it for signatures just like the main lease

Using Lease Templates

To save time on future leases, you can create and use lease templates:

1. After creating a lease, click "Save as Template" from the lease details page
2. Give your template a name and description
3. Select which elements to include in the template (terms, clauses, addenda, etc.)
4. When creating a new lease, you can select "Use Template" and choose from your saved templates
5. The system will pre-fill all the information from the template, which you can then customize as needed

Frequently Asked Questions