Index Page For Assignment Of Lease

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Structuring Leases

This chapter provides an overview of PeopleSoft Real Estate Management structure and discusses how to:

  • Define lease abstract sections to print.

  • Define amendment types.

  • Define lease types.

  • Define region codes.

  • Define user-defined fields.

  • Define transaction routing codes.

  • Define operating expense categories.

  • Define sales categories.

  • Define miscellaneous rent types.

  • Define security deposit types.

  • Define manual fee types.

  • Define economic index values.

  • Define clause types.

  • Define lease options.

  • Define critical date templates.

  • Define role types.

  • Define lease administration roles.

Understanding PeopleSoft Real Estate Management Structure

Before you can enter or process a lease for billing or payment, you must set up the tables that form the foundation of the PeopleSoft Real Estate Management system.

All tables and setup information specific to PeopleSoft Real Estate Management are discussed in this chapter.

See Defining Financials and Supply Chain Management Common Definitions.

Common Elements Used in This Chapter

Effective Date

The date on which a table row becomes effective; the date that an action begins. For example, if you want to close out a ledger on June 30, the effective date for the ledger closing would be July 1. This date also determines when you can view and change the information. Pages and batch processes that use the information use the current row.

SetID

An identification code that represents a set of control table information or tablesets. A tableset is a group of tables (records) that are necessary to define your company's structure and processing options.

Status (effective status)

Indicates whether a row in a table is active or inactive. You cannot display inactive rows on transaction pages or use them for running batch processes. You should inactivate data that you no longer use rather than delete it to maintain an audit trail.

Defining Lease Abstract Sections to Print

To define the lease abstract sections to print, use the lease abstract sections component (RE_ABST_SECT).

This section provides an overview of lease abstract sections and discusses how to define the lease abstract sections to print.

Understanding Lease Abstract Sections to Print

PeopleSoft Real Estate Management enables you to use a lease abstract worksheet to assist in quick entry of the terms and conditions of the lease. You can also print the lease abstract when you have completed lease entry to provide you with a summary.

The lease sections on the Lease Abstract page are specific pages from the Maintain Lease pages. You can specify all sections or only the sections that you choose to use.

Page Used to Define Lease Abstract Sections to Print

Page Name

Definition Name

Navigation

Usage

Lease Abstract

RE_ABST_SECT

Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, Lease Abstract

Specify the lease sections that you want to view or print.

Defining Lease Abstract Sections to Print

Access the Lease Abstract page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, Lease Abstract).

Print

Select the check box to enable printing of a section. You cannot view or print sections if you do not select the check box.

Lease Section

Displays the sections within a lease that you can view or print on the lease abstract worksheet.

Description

Describes the content to be printed within the lease section.

Defining Amendment Types

To define amendment types, use the Amendment Type and Reasons component (RE_AMND_TYPE).

This section provides an overview of amendment types and discusses how to define amendment types.

Understanding Amendment Types

PeopleSoft Real Estate Management requires that any changes you make to active lease terms and conditions be processed through an amendment. When you create an amendment, the system creates a copy of the current lease details and preserves this as a historical record. The system then creates a new amendment, whereby you can define the changes.

Amendment types work with amendment reasons to provide the lease viewers with a quick explanation as to why an amendment is being made. A parent-child relationship exists between the amendment type and amendment reason. For example, you might have an amendment type of Financial Terms Increase and a reason of Increased Parking Fees. You must define the amendment reasons that are specific to the amendment type to view the amendment reason for that type. Before you can create amendments to a lease, you must define amendment types and amendment reasons.

Note. The amendment type is informational only—no processing occurs.

Page Used to Define Amendment Types

Page Name

Definition Name

Navigation

Usage

Amendment Types

RE_AMND_TYPE

Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, Amendment Types

Define an amendment type and amendment reason. Use amendment reasons that are defined for this amendment type only to further categorize this amendment type.

Defining Amendment Types

Access the Amendment Types page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, Amendment Types).

Amendment Type Name

Enter an amendment type name to categorize the amendment activity.

Amendment Reasons

Amendment Reasons

Further identify the reason that you are creating an amendment.

 

Add Reason

Click to insert a new row to capture additional amendment reasons.

Remove Reason(s)

Select the amendment reason that you want to remove and click the button to delete that row.

Defining Lease Types

To define lease types, use the Lease Types component (RE_LEASE_TYPE).

This section provides an overview of lease types and discusses how to define lease types.

Understanding Lease Types

Lease types enable you to categorize leases for processing and reporting purposes. You may have many lease types, such as operating leases, warehouse leases, and subleases. You can also use lease types for statistical reporting. You can select a sublease type for a lease and run a report to track all subleases associated with a lease.

When you create a lease type, you associate it with a lease category. The lease category determines the processing of that lease type. For example, if you have a lease type of Reporting, the system recognizes that the lease associated with this lease type is for analytical reporting. No further processing occurs.

Page Used to Define Lease Types

Page Name

Definition Name

Navigation

Usage

Lease Types

RE_LEASE_TYPE

Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, Lease Type

Define lease types.

Defining Lease Types

Access the Lease Types page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, Lease Type).

Lease Category

Select the lease category for the lease type. The category determines how to sort or report the various lease types. Values are:

Reporting: No processing occurs.

Sub Lease: When you create a sublease, you must enter the associated parent lease number. The system validates the Parent Lease field to ensure that a parent lease is associated with the sublease.

Defining Region Codes

To define regions, use the Region Codes component (REGION_CD).

This section provides an overview of region codes.

Understanding Region Codes

Regions can be physical entities or geographical areas. When a region represents a physical entity, the region code has the same characteristics as a business, that is, address and language. In PeopleSoft Real Estate Management, you must associate a region with a lease to enable cost reporting by the various regions with which your organization does business. For example, you may require a report for all leased properties in the Midwest region and in the Northeast region. By assigning a region to your lease, you can capture the data as required.

When creating or updating an existing region, be sure to select the category of Reporting as the default category. After you define the region, you can select the region for your lease and begin capturing the data for your reports.

See Establishing Regions and Region Codes.

Defining User-Defined Fields

To define user-defined fields, use the User Defined Fields components (RE_USER_DEF_FLDS).

This section provides an overview of user-defined fields and discusses how to define user-defined fields.

Understanding User-Defined Fields

Because not all businesses have the same reporting needs, PeopleSoft Real Estate Management enables you to define additional fields (up to 10) to meet your reporting requirements. When you establish a user-defined field, the field is populated on your Clauses page in the PeopleSoft Real Estate Management system, enabling you to enter the information that you want to track.

Note. User-defined fields are used for information or reporting purposes only.

Page Used to Define User-Defined Fields

Page Name

Definition Name

Navigation

Usage

User Defined Fields

RE_USR_DEF_FLD

Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, User Defined Fields

Define user-defined fields. Create a new user-defined field to capture additional reporting data as required by your organization.

Defining User-Defined Fields

Access the User Defined Fields page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, General Definitions, User Defined Fields).

Field Name

Identify the label name that should appear on the Clauses page.

Description

Enter the description for your user-defined field. The description defines how the field is used.

Defining Transaction Routing Codes

To define transaction routing codes, use the Transaction Routing Code components (RE_TXN_ROUTE).

This section provides an overview of transaction routing codes and discusses how to define transaction routing codes.

Understanding Transaction Routing Codes

Use transaction routing codes to define the routing of transactions to PeopleSoft Billing, Payables, and General Ledger. The transaction routing codes also provide the default ChartFields and taxation rules to be used by each financial application. You can associate a transaction routing code with one or more transaction types or transaction groups, providing default handling for any transaction item that belongs to a group that does not have an explicit routing code assigned.

Page Used to Define Transaction Routing Codes

Page Name

Definition Name

Navigation

Usage

Transaction Routing Codes

RE_TXN_ROUTE

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Transaction Routing Codes

Define transaction routing codes.

Defining Transaction Routing Codes

Access the Transaction Routing Codes page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Transaction Routing Codes).

Details

Billing Charge

Select a billing charge. PeopleSoft Billing uses the billing charge code to process transactions for PeopleSoft Real Estate Management. The billing charge classifies real estate transactions.

Note. Billing charges apply only to receivables lease transactions.

Withholding Code

Withholding Applicable

Select whether withholding is applicable. The withholding applicable determines whether the voucher that is generated in PeopleSoft Payables is applicable to tax withholding. Values are:

Yes: Select if withholding applies on transactions associated with this transaction routing code. Withholding does not apply if the vendor on the lease does not withhold. Withholding from PeopleSoft Real Estate Management overrides the withholding in PeopleSoft Payables.

No: Select if withholding does not apply.

Note. Withholding applies only to payables lease transactions.

See Setting Up PeopleSoft Payables Withholding.

 

Withholding Code

Select the withholding code for the associated withholding applicable. The system applies the withholding code to the voucher in PeopleSoft Payables to determine the withholding amount for the lease transaction. If Withholding Applicable is set to Yes, and no value is selected for the withholding code, PeopleSoft Payables applies the standard default when the vendor is set up for withholding.

Note. Set up vendor information accordingly on the Procurement Control - Withholding page for proper withholding defaults.

See Setting Up PeopleSoft Payables Withholding.

Sales & Use Tax Default

Tax Applicability

Select the tax that is applicable to payables transactions. Use this field to determine the excise duty and sales tax applicability details. Values are Direct Pay, Exempt, Exonerated, Sales Tax, and Use Tax.

Note. Tax applicability applies only to payables lease transactions.

Tax Code

Select the tax code to determine the tax percentage for a county. If Tax Applicability is set to Yes, and no value is selected for the tax code, PeopleSoft Payables applies the standard default from vendor.

See Understanding PeopleSoft-Only Sales and Use Tax Processing.

Defining Operating Expense Categories

To define operating expense categories, use the Operating Expense Categories component (RE_EXP_CLASS).

This section provides an overview of operating expense categories and lists the pages used to define operating expense categories.

Understanding Operating Expense Categories

When landlords lease properties to tenants, terms for recoverable expenses that are incurred on general operations and maintenance of the building are written into the lease. Operating expenses is also commonly referred to as common area maintenance (CAM). You can identify the different recoverable expenses incurred by assigning them to an operating expense category. Operating expense categories enable you to associate a transaction routing code to ensure that financial processing occurs to handle the expense.

Page Used to Define Operating Expense Categories

Page Name

Definition Name

Navigation

Usage

Operating Expense Categories

RE_EXP_CLASS

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Operating Expense Categories

Create an operating expense category.

Defining Sales Categories

To define sales categories, use the Sales Categories component (RE_SALE_CAT).

This section provides an overview of sales categories and lists the pages used to define sales categories.

Understanding Sales Categories

Use sales categories to identify merchandise classifications for percentage rent calculations. Tenants can negotiate a lower monthly base rent in exchange for a percentage of their sales, broken down by categories. For example, a tenant may lease a building for retail sale for a set base rent, selling items such as clothing, shoes, and accessories. These items are set up as sales categories, enabling the tenant to provide the landlord a monthly report of sales by category and amount of sales. The amount or percentage of the sales paid to the landlord is determined during lease negotiations.

After you define the sales categories and percentage sales terms are negotiated, you can enter the percent rent terms specifying the breakpoints for each category. Use breakpoints to determine the percentage or amount to bill. Landlords can calculate or recalculate the billable amount by using the percent rent sales feature.

See Understanding Percent Rent Terms.

Page Used to Define Sales Categories

Page Name

Definition Name

Navigation

Usage

Sales Categories

RE_SALES_CAT

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Sales Categories

Define sales categories.

Defining Miscellaneous Rent Types

To define miscellaneous rent types, use the Miscellaneous Rent Types component (RE_MISC_FEES).

This section provides an overview of miscellaneous rent types and lists the pages used to define miscellaneous rent types.

Understanding Miscellaneous Rent Types

Define miscellaneous rent types for miscellaneous recurring payments, such as monthly parking fees and storage fees on your lease. You can define miscellaneous rent types with a date range, schedule, amount, billing frequency, and any potential escalations.

In addition, to separate a miscellaneous rent type as a distinct bill line on an invoice, you can associate miscellaneous rent types with a transaction routing code that is specifically defined with a unique bill code.

Page Used to Define Miscellaneous Rent Types

Page Name

Definition Name

Navigation

Usage

Miscellaneous Rent Types

RE_MISC_FEES

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Miscellaneous Rent Types

Define miscellaneous rent types.

Defining Security Deposit Types

To define security deposit types, use the Security Deposit Types component (RE_SECURITIES).

This section provides an overview of security deposit types and discusses how to define security deposit types.

Understanding Security Deposit Types

Using the security deposit type enables the system to track whether the security deposit is a bank guarantee, cash, or prepaid. Security deposit types enable you to track the deposits received and also the interest that is generated by security deposits.

Security deposit types facilitate the processing of security deposits received or paid. By selecting the appropriate category for each security deposit type, the PeopleSoft Real Estate Management system determines how the security deposit is handled. There are three security deposit categories: Charge,Guarantee and Prepaid. You can create and assign a deposit type to categories.

Page Used to Define Security Deposit Types

Page Name

Definition Name

Navigation

Usage

Security Deposit Types

RE_SCTY_DEP_TYP

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Security Deposit Types

Define security deposit types.

Defining Security Deposit Types

Access the Security Deposit Types page (Set Up Financials/Supply Chain, Product Related, Lease Administration, Financial Terms, Security Deposit Types).

Category

Select a category from this list of values:

Charge: The security deposit has been received for a receivables lease or paid by for a payables lease and the status of the deposit is pending .

Guarantee: Bank guarantee or letter of credit issued by a bank. No processing occurs; cash is not collected.

Prepaid: Tracks prepaid security deposits paid through PeopleSoft Payables prior to lease activation. These deposits are treated as cash during deposit refund.

Defining Manual Fee Types

To define manual fee types, use the Manual Fee Types components (RE_SUNDRY_CHG).

This section provides an overview of manual fee types and lists the pages used to define manual fee types.

Understanding Manual Fee Types

You create manual fee types to classify ad hoc payments for things such as repair of a broken window, rekeying a lock for an office, or items not related to the monthly operating expense fees. When creating manual fee types, you can link these manual fee types to specific transaction routing codes for processing in PeopleSoft Billing or PeopleSoft Payables.

Use manual fee types to create ad hoc payments for transactions that are one-time only payments.

Page Used to Define Manual Fee Types

Page Name

Definition Name

Navigation

Usage

Manual Fee Types

RE_MISC_FEES

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Manual Fee Types

Define manual fee types.

Defining Economic Index Values

To define economic index values, use the Economic Index Values component (RE_INDEX).

This section provides an overview of economic index values and discusses how to define economic index values.

Understanding Economic Index Values

You set up the economic index values so that the lease rent amounts or miscellaneous fees increase from time to time or from year to year. Some leases are set up so that the rent amounts increase regularly, based on an index such as the Consumer Price Index (CPI), Porters' Wage, or a user-defined index.

Note. You cannot set up the economic index without first setting up the market rate index and market rates. Perform maintenance of the index values based on the frequency defined by your organization.

See Defining Market Rates.

Page Used to Define Economic Index Values

Page Name

Definition Name

Navigation

Usage

Economic Index Values

RE_IDX_VALUE

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Economic Index

Define the economic index values. Rent increases are based on the economic index values defined.

Defining Economic Index Values

Access the Economic Index Values page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, Financial Terms, Economic Index).

View Index Definition

Click to view the Market Rate Index. This page provides the highest level of organization for market rates in the PeopleSoft system. These indices define general categories of market rates, such as exchange rates, interest rates, and commodity exchange rates.

Index Values

Date From

Select the start date.

 

Date To

Select the end date.

 

Value

Enter the current index value for the period. These values are based on monthly updates received from an index subscription.

Defining Clause Types

To define clause types, use the Clause Types component (RE_CLAUSE_STYPE).

This section provides an overview of clause types and discusses how to define clause types.

Understanding Clause Types

You can capture and classify pertinent lease information, such as right to assign the lease, first right of refusal, parking privileges, number of parking spaces, and so on. Clause types enable you to categorize and store this information in a logical format, which can be shared with other leases. After you establish the parking privileges clause type, you can further define the clause subtype with the corresponding detail of number of parking spaces.

Page Used to Define Clause Types

Page Name

Definition Name

Navigation

Usage

Clause Types

RE_CLAUSE_TYPE

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Clauses and Options, Clause Type

Define the clause type. From this page, you can define specific clauses that you want to track.

Defining Clause Types

Access the Clause Types page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, Clauses and Options, Clause Type).

Clause Subtypes

Enter corresponding names and descriptions that further define the clause types. You can add multiple clause subtypes for the clause type.

Defining Real Estate Options

To define a real estate option definition and mail template, use the Option Definition (RE_LEASE_OPTION) and Mail Template (RE_OPTION_MAIL) components.

This section provides an overview of real estate options discusses how to:

  • Define real estate options.

  • Define real estate option mail templates.

  • Copy mail templates.

  • Insert mail fields.

  • Review real estate option mail samples.

Understanding Real Estate Options

Lease and SAR (site acquisition request) options are used to identify clauses. Real estate options can be the same as a clause with a critical date as a reminder to take action for that option. You can define whether you receive a reminder when an action is required. Options are usually associated with critical dates (dates by which the option is exercised). Lease renewals, terminations, and early terminations are options that may require an action that is defined in the lease.

When you define your real estate options, you can also create a mail template with standard messaging to notify a user when an action is to take place. The mail template enables you to enter your own message, copy from an existing option message, or combine your message with field inserts.

Click the Copy From Option button to select a message from an existing option. For example, you can have multiple termination options; however, the message that you have associated with each option can be the same. Copying from an existing option eliminates data entry redundancy.

Note. Critical dates cause the system to send email notifications to specified users, as well as generate entries in a user's tasklist. However, do not confuse a tasklist with the worklist in PeopleSoft Workflow. Critical dates do not use standard PeopleSoft Workflow. When entries are created in My Tasklist, they are there for informational purposes only. They do not initiate any further downstream processing, nor does any rerouting or validation indicate that specific tasks are completed. Users can choose to mark entries in their tasklists as complete; however, this is for their own information. The system does not use the data in the same way that PeopleSoft Workflow might. Email notifications are generated through the Critical Dates Template - Template Option Details page setup.

See Understanding Critical Date Templates.

Pages Used to Define Lease Options

Page Name

Definition Name

Navigation

Usage

Lease and SAR Options

RE_LEASE_OPTION

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Options

Enter the option name.

Lease and SAR Option Mail Template

RE_OPTION_MAIL

Click the Mail Template link on the Lease and SAR Options page.

Enter a message to be associated with the option.

Copy Mail Template

RE_CPYMAIL_TMPLT

Click the Copy from Option button on the Lease and SAR Option Mail Template page.

Select the option that you want to copy into the mail template.

Insert Mail Fields

RE_OPT_TAG

Click the Insert Mail Fields button on the Lease and SAR Option Mail Template page.

Select the template marker for values that you want to insert into your option description.

Lease and SAR Option Mail Sample

RE_OPTION_MPRV

Click the View Sample button to preview the message.

Preview a sample of your mail message.

Defining Lease and SAR Options

Access the Lease Options page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, Options).

Mail Template

Click to access the Lease and SAR Option Mail Template page.

Option Name

Enter the option name that describes the option.

Defining Lease and SAR Option Mail Templates

Access the Lease and SAR Option Mail Template page (click the Mail Template link on the Lease and SAR Options page).

Lease and SAR Option

Click to return to the Lease and SAR Options page.

Mail Template

Enter the mail message that you want to associate with the option. Using the template keeps email formats consistent and also reduces data entry redundancy.

Copy from Option

Click to view a list of predefined values to copy into the mail message. To obtain a list of lease and SAR options template values, enter partial values and click the Search button.

Insert Mail Fields

Click to view a list of predefined values to insert into the mail template.

View Sample

Click to view a sample of the predefined mail message.

Copying Mail Template

Access the Copy Mail Template page (click the Copy from Option button on the Lease and SAR Option Mail Template page).

Option Name (begins with)

Enter a partial name or the name of the option that you want to search for and click the Search button.

Lease Option Name

Displays a list of available lease options to copy into a new message. Select the lease option to insert message text.

View Sample

Click to view the message text associated with that option.

Inserting Mail Fields

Access the Insert Mail Fields page (click the Insert Mail Fields button on the Lease and SAR Option Mail Template page).

Name

Select the name fields to be inserted into the mail template. When you create a lease, you select the lease options to associate with that lease. The fields that you select insert specific field data into the message template.

For example, if you select Lease Number as the marker in the message, the lease number from the lease that you associate with the lease option replaces the marker in the message field.

 

Marker

Display the place holder for specific text on the message template. Whether you select Lease Number,Lease Title,Action Date, and so on, the associated information is supplied by default onto the message template when the option is used on a lease.

For example, by inserting the marker in your message (This is a notice to inform you that the %LSNBR% will expire in 30 days), your message will read This is to inform you that the lease number A30178 will expire in 30 days.

 

Description

Displays the description for each marker.

Defining Critical Date Templates

To define lease critical date templates, use the critical date template component (RE_CRDT_TMPLT).

This section provides an overview of critical date templates and discusses how to:

  • Define critical date templates.

  • Define option notifications.

Understanding Critical Date Templates

A lease may have a variety of events that occur throughout the lease life cycle. Some of these events may require intervention by various interested parties associated with the lease. These events are usually, but not always, associated with an option clause contained in the lease.

You can use lease events to track key milestones (such as security deposits and lease termination), lease options (such as renewals and right of first offer), or other activities (such as lease activation approval). Because each interested party needs to have early warning when these dates become due, the critical date template enables you to set up alerts to remind you to take the appropriate actions.

When you need to be alerted of dates for an event that requires an action or decision, you can do so by associating the critical dates template with that lease. You must define the critical date template and schedule the template to alert you once, on a specific date, or using a timetable. You can also select the lease options and the recipients that are to receive the alerts.

For example, if you want to be notified when a lease is up for renewal before it expires, you can set the critical date notification to notify you six months in advance, again every month for the final three months, once a week in the final month, and then every other day in the last two weeks.

This table describes how to set up the critical dates notification from the example above:

Enable

Notification

Recurring

Every

On

Y

6 Months Prior

Never

  

Y

3 Months Prior

Month

1 Month

15th of the Month

Y

4 Weeks Prior

Weekly

1 Week

Monday

Y

14 Days

Daily

2 Days

 

Pages Used to Define Critical Date Templates

Page Name

Definition Name

Navigation

Usage

Define Critical Date Template

RE_TMPLT_NM

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Critical Date Templates

Enter the critical date option definition.

Define Option Notifications

RE_TMPLOPT_DTL

Click the Define Notifications button on the Define Critical Date Template page.

Define a notification schedule and the recipients for the notification. An email notification goes out to the role defined here.

Defining Critical Date Templates

Access the Define Critical Date Template page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, Critical Date Templates).

Template Name

Enter the name that best defines this critical date template.

Option Name

Select the option for which you want to define notifications.

Define Notifications

Click to access the Define Option Notifications page.

Defining Option Notifications

Access the Define Option Notifications page (click the Define Notifications button on the Define Critical Date Template page).

Schedule Details

Enable Notifications

Select to enable the notification.

Send initial notification

prior to Option Date

Enter the number, and then select days, months, or years prior to the option date that you want to receive the notification.

Enter a number in the blank field and select one of these values:

Days

Months

Years

On the Lease Start Date

Select if you want to receive the notification upon the date that the lease is activated.

 

Specific Date

Enter or select a specific date.

Recurring

You can send recurring notifications based on the following criteria:

Never

Select to never send recurring notifications.

 

Daily

Select to send daily notices. You can enter a number in the blank field in the Daily row to indicate the notification frequency. For example, if you enter 2, the system sends a notification every two days until the option date occurs.

 

Weekly

Select to send notices weekly. You can enter a number in the blank field in the Weekly row to define the notification frequently and you can specify which day or days of the week to send the notifications. For example, if you enter 2 for the notification frequency and select Monday and Friday, the system sends notifications on Monday and Friday every two weeks until the option date occurs. If you specify a day of the week, you must enter the notification frequency.

Monthly

Select to send notices monthly. You can enter a number in the blank field on the Monthly row to define the notification frequency and you can specify on which day of the month the notification is sent.

Yearly

Select to send notices yearly. Select from the Month list and define the number in the On Day field for a specific day within that month. For example, notifications can be sent in January on the fifth day of the month until the option date occurs.

 

Role Type

Select the role type or recipient to receive notifications. Notification are sent out to any individual in your organization who is assigned to this role type.

See Understanding Role Types.

Defining Role Types

To define role types, use the role types component (RE_PARTY_TYPE).

This section provides an overview of role types and discusses how to define role types.

Understanding Role Types

Role types enable you to define the many contacts stored within your PeopleSoft Real Estate Management system. They are also used to identify critical date recipients. You can set up a role as a role type. Role types can be a lease administrator, portfolio manager, landlord, tenant, billing clerk, payables clerk, bank contact, and so on.

After you set up the role type, you associate the role category to determine approval processing. When auto-approval is enabled, roles that are assigned the role type of Internal Administrator and Internal Manager can activate leases. If auto-approval is disabled, only the role that is assigned to the Internal Manager role type can activate leases.

Note. You must define at least one role type for your PeopleSoft Real Estate Management system.

Note. Role types are not used as a security feature in PeopleSoft applications.

Page Used to Define Role Types

Page Name

Definition Name

Navigation

Usage

Role Types

RE_PTY_TYPE

Set Up Financials/Supply Chain, Product Related, Real Estate Management, User Roles, Role Types

Define role types.

Defining Role Types

Access the Role Types page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, User Roles, Role Types).

Role Category

Your selection determines the actions for each role that you define. Four role categories are available:

External Contact: A contact that is not an employee of your organization. A contact can be a vendor or service personnel, such as a sale representative from a janitorial supply company or a repair man.

Internal Administrator: An employee of your organization who has access to the PeopleSoft Real Estate Management system to enter or maintain a lease. A lease administrator or a lease entry clerk is an example of an internal administrator.

Internal Manager: A manager of your organization who has access to the PeopleSoft Real Estate Management system to validate a lease. A portfolio manager is an example of an internal manager.

Lease Principal: A landlord or tenant for a lease.

Defining Lease Administration Roles

To define lease administration roles, use the Lease Administration Roles component (RE_LA_ROLES).

This section provides an overview of lease administration roles and discusses how to define lease administration roles.

Understanding Lease Administration Roles

Lease administration roles enable you to associate individuals in your organization with a particular role type within the PeopleSoft Real Estate Management system. You can associate multiple individuals in your organization with one role type. For example, several individuals may be able to create and maintain a lease. By assigning a role type of Lease Administrator to each of them, each individual can perform the tasks associated with a lease administrator.

Note. You must set up role types before you set up lease administration roles.

Page Used to Define Lease Administration Roles

Page Name

Definition Name

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Usage

Lease Administration Roles

RE_LA_ROLES

Set Up Financials/Supply Chain, Product Related, Real Estate Management, Users Roles, Lease Administration Role

Define a lease administration role.

Defining Lease Administration Roles

Access the Lease Administration Roles page (Set Up Financials/Supply Chain, Product Related, Real Estate Management, Users Roles, Lease Administration Role).

User ID

Select the User ID of the individual in your organization who generates a transaction.

Role Name

Displays the long description from the Role Types page.

Approve Transaction

Select to allow the user to approve transactions for payables, put them on hold, unhold them or cancel them on the Payment Transactions page. If you do not select this option, those buttons will be unavailable for clicking and users will not be able to approve any transaction in the Transaction Queue Manager.

Create Transaction

Select to allow the user to create payables manual fees and to update selected manual fees on the Payment Transactions page. If you do not select this option, those buttons will be unavailable for clicking. If this option is not selected, the user will not be able to create any manual transactions.

Note. If you inactivate a lease administration role, the user will no longer be able to be added to the Create Lease page. If this user is already added on a lease, it will remain unchanged, but they will not be able to add this user to another lease.


Sections: s7 (1)(b)(v), (va) & s57


Lodgement category: SRO


Circumstances/Transactions:

A lease for which consideration is paid in respect of its grant, transfer or assignment or in relation to certain rights pertaining to the underlying land. 
 

Evidence:

  1. Any agreement, contract of sale or other documentation between the parties in respect of the grant, transfer or assignment of lease. 
  2. The instrument that grants, transfers or assigns the lease.
  3. If the transaction involves the transfer or assignment of a lease, a copy of the lease. 
  4. Details of the consideration, other than rent reserved, paid or agreed to be paid including any non-monetary consideration provided for grant, transfer or assignment of lease. 
  5. Evidence of the value of the land subject to the lease either by:
    1. A letter of appraisal from a licensed real estate agent and a copy of the rate notice, or
    2. A valuation from a certified practising valuer who is a member of the API or by a member of the REIV with sworn valuer accreditation, or
    3. In circumstances where a letter of appraisal or sworn valuation could not be obtained, complete SRO Duties Form 3 (Real property value statutory declaration). This form requires an explanation of the steps taken to obtain either of these valuations.

Note: Refer to section 57 evidentiary requirements for any future transfers made pursuant to the lease.

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