NetSuite - Information about Lease Agreements

Information about Lease Agreements

• The Community Application is the data source for all resident information on the Lease Agreement.
• Resident signatures must appear on the initial Lease Agreement. 
• Security Deposits are equivalent to one month's site rent. If required by law, the name and address of a surety company that bonds Security Deposits will be available.
• Residents may ask for explanations of some language in the lease. Answer their questions. If they still have concerns, they should seek legal advice.
• Most leases are for a term of 12 months.
• The lease term will always commence on the first day of the month and expire on the last day of the month of the specified time period.
  • When a resident moves in on the 1st of the month, their lease commences that date.
  • When a resident moves in between the 2nd of the month and the last day of the month, their lease will commence on the 1st of the next month.
• Inform the resident that a copy of their lease is available to view in their online Customer Portal.
• One-time charges must be listed where requested.