Contract no.

A number assigned to a rental agreement.

Addendum

The version of the rental agreement. When a new rental agreement is created, a value is assigned programmatically and cannot be edited manually. A value of 0 indicates that this is the first version of the rental agreement.

If the rental agreement's status is Completed (), most of the fields in the rental agreement details are locked and cannot be edited manually. If you want to change any of the details in the rental agreement's locked fields, you must create an addendum to the rental agreement. On the new rental agreement, you can change any of the rental agreement details before changing its status to Complete.

Refer to Add Addendum for more information.

Name

A name for the rental agreement.

Contract Category

The rental agreement's category. Rental agreememt are automatically assigned the Rental Agreement category. The Rental Agreement category is stored in the Contract Category catalog. You can specify which objects the rental agreement can be linked to by adding or removing data objects from the catalog entry.

Object

The type of space being rented. Selectable options are stored in the Object catalog.

Type of Object

The type of VertiGIS FM data object associated with the rental agreement. Selectable options are stored in the Rental Agreement entry in the Contract Category catalog.

Contractual Relationship

The contractual relationship between the lessor and the renter. You can select one of three options:

•Leasing

•Subletting

•Renting

Object (Real Estate/Building)

The real estate or building whose space is being rented. You can select a real estate or building managed in VertiGIS FM Buildings.

The label for this field changes to Real Estate or Building after you assign a real estate or building.

State

The current state of the rental agreement.

Renting according to gif

A check box that, if selected, designates the floor area associated with the rental agreement as a commercial property within DIN 277 categorization standards.

If you select this check box, the Rentable Area [m2] field becomes Rental Area GIF [m2].

Rental Area GIF Field with Check Box Selected

This feature is provided to comply with Gesellschaft für immobilienwirtschaftliche Forschung (GIF) in Germany and is only of value for customers that operate in Germany.

Opted

A check box that, if selected, means the contract is a commercial rental agreement and that tax values must be included in invoices.

Country

The country whose tax information is applied to the rental agreement. Refer to Country Management for more information.

Currency

The monetary currency associated with the rental agreement.

Payment method

How payments associated with the rental agreement are made.

Accounting of service charges

Commencement of contract

The date the rental agreement begins.

Possible contract expiration date

The earliest date the rental agreement can end if terminated immediately. This date is generated using the data entered in the Termination section.

Termination of contract

The date the rental agreement is set to end. You cannot edit this field. The date is determined by the data you enter in the Termination section.

You can extend the rental agreement past this date by adding options to it. When this date is reached, the rental agreement's status changes to Completed (Finished).

Refer to Contract State for more information.

Special termination possible until

The earliest day the rental agreement can be terminated according to the special terminations included in the rental agreement. This field only appears if the rental agreement has a special termination included.

Differing area

Rentable area [m2]

Proportional common area [m2]

Area service charges [m2]

Proportionate area for service charges [m2]

Parking spaces

The number of parking spaces included in the rental agreement.

Colour

Cost center

The cost center associated with the rental agreement. Cost centers are managed in the VertiGIS FM Costs and Budget module. 

Person responsible

The person responsible for the rental agreement. You must select a contact or company stored in the Contact Management module. Refer to Responsibilities for more information.

Organization

The department or organization within in your company that is associated with the rental agreement (for example, Support, Distribution, Administration). Selectable options are stored in the Organizations section on the Administration > Own Data > Client or Administration > Own Data > Tenant page.

Public law / Private law

Taxation checked

Digitally captured

A check box that, if selected, means that the rental agreement is stored in a Document Management System (typically not VertiGIS FM).

Allocation to an amount

Checked

Lessor

The party renting the property to the renter (for example, the landlord).

Represented by

A point of contact for the rental agreement's lessor.

Renter

The party renting the property.

Represented by

A point of contact for the rental agreement's renter.

Type of advance payments

How the rental agreement's payer is billed for rental costs.

•If you select Single Invoice, VertiGIS FM will generate an invoice with a unique invoice number for each payment that is due.

•If you select Standing Invoice, VertiGIS FM will generate a single stipulation for all recurring rental costs payments. The system will only generate new stipulations for printing if a new rental cost is created or if the payment amount for an existing one is adjusted. When Standing Invoice is selected, payment amounts can be adjusted using an index agreement or graduated rent agreement.

Unlimited

A check box that, if selected, means the rental agreement has no fixed term. 

If you select this check box, you can still specify the terms under which the rental agreement can be cancelled in the Termination during the fixed duration section. 

Fixed term

The fixed term of the rental agreement. You can enter the length of the contract in the Contract Period, and VertiGIS FM will calculate the rental agreement end date based on today's date. Alternatively, you can enter the date the rental agreement ends in the or until the date of menus.

This section is not visible if the Unlimited check box is selected.

Extension

A field you can use to specify an extension of the rental agreement's fixed term. You can use the Extended until check box to specify a date until which the rental agreement is extended, or use the Automatic Extension check box to specify an amount of time to be added to the term of the rental agreement.

If you select the Extended Until or Automatic Extension check boxes, you must provide additional details in the Termination During the Fixed Duration section.

You can also allow extensions to the rental agreement's term by adding options to the rental agreement. Options give you the right to extend the contract by a specified amount of time during a period of time specified in the option criteria. Refer to Contract Options for more information.

Termination during the fixed duration

A setting that defines how the contract can be terminated during the fixed term.

In this section, you must specify a termination period. This refers to the amount of time between the date the decision to terminate the contract is saved in VertiGIS FM and the date the contract officially terminates. If the contract is terminated on September 1, and the termination period is 3 months, the contract will officially expire on December 1.

The termination period can occur either before or after the contract's fixed term.

Termination during extension

A setting that defines how the contract can be terminated during the extension period.

This section is only visible if you select the Extended Until or Automatic Extension check boxes in the Extension section.

Special termination possible until

The earliest day the rental agreement can be terminated according to the special terminations included in the rental agreement. This field only appears if the rental agreement has a special termination included.

Special termination possible on

The last day in the next cancellation period that the contract can be terminated on according to the special terminations included in the rental agreement. This field only appears if the rental agreement has a special termination included.

Possible contract expiration date

The earliest possible date you can terminate the contract.

Terminated on

The date the decision to terminate the rental agreement is received. Enter a date in this field when you decide to terminate the contract.

Terminated as of 

The date the rental agreement will officially expire, based on the date entered in the Terminated on field above. This date can vary from the one in the Terminated on field above depending on the termination period specified in the Termination during the fixed duration section and on the special terminations included in the rental agreement.

Re­mind­er x days before expir­ation

The number of days before a reminder message is sent to the configured recipients using the Exchange Server.

Com­ment

Loan guarantee

A check box that, if selected, indicates that a third party has agreed to assume the financial obligations of one of the parties involved in the rental agreement in the event that they are unable to fulfill them.

The other fields in this form are only selectable if you select this check box.

Loan guarantee number

A number to identify the loan guarantee.

Bank

The bank or credit union associated with the guarantee.

Amount

The amount of money guaranteed by the third party.

Payer

The name of the payer if the party involved in the contract cannot pay.

Risk of loss of allocated costs

A check box that, if selected, means that the rental agreement's Payee or Lessor may incur a loss of operating costs if the other party is unable to fulfill the terms of a contract (e.g., if the renter in a rental agreement vacates the unit).

Share of service charges [%]

The percentage of the service charges that the rental agreement's Payee or Lessor stands to lose.

This field is only accessible if you selected the Risk of allocated costs check box.

Valid until

The date until which the rental agreement's loan guarantee is valid. You can alternatively specify the guarantee as indefinite by selecting the Unlimited check box.

Unlimited

A check box that, if selected, indicates that the loan guarantee's validity is indefinite. You can alternatively specify the date until which the guarantee is valid in the Valid Until field.

Comment

Additional notes about the loan guarantee.

Deposit

A check box that, if selected, indicates that the Renter or Payee has paid a damage deposit to the Payee or Lessor. This is a payment made for the rental of a housing space that is usually refunded if there is no damage done to the rental space after the rental agreement ends.

The other fields in this form are only selectable if you select this check box.

Amount

The amount of money paid for the deposit.

Number of months (monthly rent)

The number of monthly rental payments covered by the amount paid in the damage deposit.

Comment

Additional comments about the damage deposit.

Letter of guarantee

A check box that, if selected, indicates that a letter of guarantee, in which a parent company assures the creditor of specific behavior or measures that increase the probably of the debtor's repayment, has been provided.

The other fields in this form are only selectable if you select this check box.

Type

Whether the letter of guarantee is Hard or Soft.

•Hard: the letter of guarantee carries a duty to indemnify. 

•Soft: the declaration is without legal obligation.

Amount

The amount of money assured by the letter of guarantee.

Comment

Additional comments about the letter of guarantee.

Commission on bank guarantee

A check box that, if selected, indicates that there is a commission to pay the guarantor (often a bank) for assuming the guarantee. It is typically between 1 and 10 percent.

Amount

Share [%]

The percentage of the guarantee amount paid to the guarantor as a commission.