> ## Documentation Index
> Fetch the complete documentation index at: https://docs.spacebaseapp.com/llms.txt
> Use this file to discover all available pages before exploring further.
# Lease Abstraction
> Step-by-step guidance for adding new leases and amendments to Spacebase.
Learn about our abstraction services and support team.
Below are the steps required to add a new lease to your account.
* Click on the **Upload Lease** button in the header of your account.
* Select **Create new lease**.
* Enter in the lease name.
* Click **Choose Files** to select all of your lease files.
* Click the **Create Lease** button.
* This will open the newly created Lease record with a green confirmation box stating "Lease created successfully".
* On the **Files** tab, click on the ellipses icon (the three horizontal dots) next to the lease file that you would like to update.
* Click the **Edit** link to navigate to the Update Lease File page.
* Select a File type.
* Organize the File in a Parent Folder, if applicable.
* If the lease file is a contract, enter in the Execution date.
* Add any relevant notes in the **Notes** field.
* Click the **Update Lease File** button to update the lease file.
* To add additional Files, drag and drop files into the **Upload Additional Files** section.
* Click on the **Lease Basics** tab in the lease sidebar menu.
* On the **Lease Info** tab, enter in your basic lease information, and click the **Save and Continue** button.
* On the **Address** tab, enter in your lease address, and click the **Save and Continue** button.
* Be sure to enter the full address in the **Raw** field.
* The **City** and **Country** fields are used to filter your leases by city or country.
* View the Google Maps data to ensure accuracy.
* On the **Custom Fields** tab, update various values for your custom fields (optional).
* On the **Expense Accounts** tab, you can **Create Expense Account** by Lease Expense Category (optional). This is for administrative purposes only and does not have an Accounting impact.
* On the **Photos** tab, drag and drop photos to attach to the Lease. Once upload is successful, you can edit the photo to add a Title and Description.
**Understanding how critical dates work**
Critical dates can be added to your account in two ways:
* **Fixed date:** a specific day of the year.
* **Relative date:** a date that is a certain number of days, months, or years before or after another critical date in the lease record.
**Fixed dates**
Fixed dates are added to the lease record as a date with a specific day, month, and year. You would use this critical date type when entering in a critical date that occurs on a defined date that is not dependent on any other critical dates (even if the date is not known when the lease is signed). When entering in fixed critical dates, you can also select whether the date is an estimate.
**Relative dates**
Relative dates are added to the lease record as dates that are a certain number of days, months, or years before or after another critical date in the lease record. You would use this critical date type when entering in a critical date that is defined in the lease agreement as being relative to another critical date. A common example of relative critical dates are option notice periods. These are often defined in lease agreements as being a certain number of months (e.g. six months) prior to the expiration. As a result, you can enter these in your lease record as being that number of months prior to the expiration critical date.
**Default critical dates**
The following critical dates are required for all leases:
* **Possession Date:** the date you took possession of the leased premises or asset.
* **Commencement:** the official commencement date defined in the lease agreement.
* **Expiration:** the official expiration date defined in the lease agreement.
New leases also have a default area, which has its own commencement and expiration date:
* By default, the **Possession Date** and **Area Commencement – Base Area** dates are set up as relative dates equal to the Commencement date.
* The **Area Expiration – Base Area** is set up as a relative date equal to the Expiration date.
**Adding and updating critical dates**
* Click on the **Dates & Options** tab in the lease sidebar menu.
* Click on the critical date that you would like to update.
* The **Category** field will display the category of the date that you are updating.
* In the **Area type** field, select whether the date is for all of the areas in a lease, or just for a specific area or set of areas.
* In the **Date type** field, select whether the date is a fixed date or a relative date.
* For fixed dates, enter the date in the date field, and select whether the date is an estimate.
* For relative dates, select the existing critical date that this date is relative to, and enter the number of days, months, or years that the date is before or after the existing critical date.
* Add any relevant notes in the **Notes** field.
* Add a citation link to the lease documentation.
* Click the **Update Critical Date** button to save your changes.
* You can also **Delete Critical Date** here.
* Click on the **Dates & Options** tab in the lease sidebar menu.
* Click on the **Options** tab.
* Click on the **Create Option** button.
* In the **Option type** field, select the type of option you would like to add.
* The **Name** field is an optional field that you can use to enter in a more detailed description of the option. If you leave the name field blank, the system will use the option type as the option name (e.g. "Renewal Option").
* Select the relevant areas for the option.
* Enter in the current Status (e.g. "Pending Decision").
* Enter in the notice and other relevant dates for the options.
* The dates can be entered as fixed or relative dates.
* Option notice dates are usually entered as relative dates (e.g. six months prior to the expiration date).
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the lease documentation (Lease file, PDF page number, and Section).
* Click the **Create Option** button to create your option.
* Click on the **Areas** tab in the lease sidebar menu.
* All new leases have a default **Base Area**.
* Click on the **Base Area** to update that area.
* In the **Name** field, enter a more descriptive name for the area if applicable (e.g. "Sixth Floor").
* Below the **Name** field, two size fields will populate based on the **Area type** field in the **Lease Basics** tab.
* For example, if **SqFt** is chosen as the Area type:
* In the **SqFt** field, enter the number of square feet of the area.
* In the **Usable SqFt** field, enter the usable square feet of the area, if applicable.
* Enter in the Start Date and End Date for the area.
* Please note that the default **Base Area** will have a start date and end date set up as relative dates equal to the overall lease commencement and expiration dates.
* Additional areas that you add to the lease record can start and end at any point within the lease term.
* Add any relevant notes in the **Description** field.
* Add a citation link to the lease documentation.
* Click the **Update Area** button to save your changes.
* Click on the **Contacts** tab in the lease sidebar menu.
* Click on the **Edit Lessor** button and enter the lessor entity name.
* Click on the **Edit Lessee** button and select the lessee entity from the dropdown field.
* Click on the **Create Entity** link to create a new lessee entity.
* Please note that a currency is required when creating a new lessee entity.
* Once your lessor and lessee entities have been set, click on the **Create Contact** button in each section to add individual contacts for that lessor or lessee entity (e.g. notice addresses, payment addresses, etc.).
* Click on the **Finances** tab in the lease sidebar menu.
* Click on the **Create Expense Schedule** button.
* In the **Expense category** field, select the type of rent or expense schedule that you would like to add.
* The **Description** field is an optional field that you can use to enter in a more detailed description of the expense schedule. If you leave the description field blank, the system will use the schedule type as the schedule name (e.g. "Base Rent").
* Select the relevant areas for the expense schedule.
* In the **Payable to** field, select the entity that will receive the expense schedule payments.
* Update the schedule rules to match the expense schedule's requirements in the lease agreement.
* In the **Schedule** section, select the start date and end date for the payments.
* The start and end date can be set up as relative dates equal to the lease commencement and expiration date.
* The base rent start date will be the rent commencement date in the lease record.
* Any rent abatements can be reflected in the base rent schedule start date, or added in as abatements (see below).
* Enter the starting amount for the expense schedule.
* Use the **Add Adjustment** button to add any adjustments to the expense schedule throughout the lease term.
* Any abatements can be added in the **Abatements** section.
* Any prepaid expenses can be added in the **Prepaid Expenses** section.
* Select Yes or No to **Does this schedule have taxes due?**
* If yes, choose any existing tax codes that should be applied to this schedule. A tax expense will be created for every expense in this schedule based on the tax rate.
* Please note, Tax codes must be set up in Company > Company Settings > Tax Codes.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the lease documentation.
* Click the **Create Expense Schedule** button to create your expense schedule.
* If applicable, you may wish to list out all types of expenses relating to this lease for summary purposes and quick reference under the **Expense Categories Due** tab.
* Click on the **Finances** tab in the lease sidebar menu and then click on the **TI Allowances** tab.
* Click on the **Create Allowance** button.
* In the **Name** field, enter a name for the allowance.
* Select the relevant areas for the allowance.
* In the **Total amount** field, enter the total amount for the allowance.
* If the allowance has a spend by date, you can enter that in the **Spend by date** field.
* You can also optionally create an allowance payment schedule in the **Payment schedule** section.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the lease documentation.
* Click the **Create TI Allowance** button to create your TI allowance.
* Click on the **Finances** tab in the lease sidebar menu and then click on the **Deposits** tab.
* Click on the **Create Deposit** button.
* In the **Deposit type** field, select the deposit type (e.g. Cash/Security Deposit, Letter of Credit, etc.).
* Optionally, select the checkbox if the deposit is non-refundable.
* Select the relevant areas for the deposit.
* In the **Schedule** section, enter the date the deposit was due in the **Start date** field and the deposit amount in the **Starting amount** field.
* Use the **Add Adjustment** button to add adjustments or burn downs in the security deposit.
* Enter the date the deposit is due to be returned in the **Return date** field.
* This is often added as a relative date a certain number of days or months after the expiration date.
* When your security deposit is received, you can enter the return amount, and check the **Returned** field to confirm that the security deposit was returned.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the lease documentation.
* Click the **Create Deposit** button to create your deposit.
* Click on the **Clauses** tab in the lease sidebar menu.
* The **Clauses** page will be populated with your default lease clause categories.
* Click on the lease clause that you would like to update.
* On the lease clause page, update the description by adding a summary of the clause from the lease agreement.
* Add a citation link to the lease documentation.
* Click the **Update Lease Clause** button to save your changes.
* Review all of the lease data that you've entered to make sure that everything was entered correctly.
* You may wish to view the Lease > Log for all activity that occurred to set up the Lease.
* Once you've validated your lease data, click the **Publish Lease** button at the top of the lease page to publish your lease.
* Congratulations, you've successfully added your new lease!
To add an amendment to a lease, you would update the original lease record to reflect the amendment. You generally would not create a new lease record for the amendment, unless you wanted to track the amendment as a separate lease.
* Navigate to the lease to which you would like to add the amendment.
* Click on the **Edit** button in the top right corner of the lease page.
* Click on the **Files** tab in the lease sidebar menu.
* Scroll down to the **Upload Additional Files** section.
* Upload the amendment documentation.
* Click on the **Dates & Options** tab in the lease sidebar menu.
* Click on the relevant changed critical date.
* Update the date to reflect the new date in the amendment.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the amendment documentation.
* Click the **Update Critical Date** button to save your changes.
* Click on the **Dates & Options** tab in the lease sidebar menu and then click on the **Options** tab.
* To add a new option, click on the **Create Option** button towards the top right corner of the options page.
* To update an option, click on each option that has been updated by the amendment.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the amendment documentation.
* Click the **Update Option** button to save your changes.
* Click on the **Areas** tab in the lease sidebar menu.
* To add a new area, click on the **Create Area** button towards the top right corner of the areas page.
* To update an area, click on each area that has been updated by the amendment.
* Update the start and end dates to reflect what is in the amendment.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the amendment documentation.
* Click the **Update Area** button to save your changes.
* Click on the **Finances** tab in the lease sidebar menu.
* To add a new expense schedule, click on the **Create Expense Schedule** button towards the top right corner of the expenses page.
* To update an expense schedule, click on each expense schedule that has been updated by the amendment.
* Update the expense schedule to reflect the rent amounts in the amendment.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the amendment documentation.
* Click the **Update Expense Schedule** button to save your changes.
* Click on the **Expenses** tab in the lease sidebar menu and then click on the **TI Allowances** tab.
* To add a new allowance, click on the **Create Allowance** button towards the top right corner of the TI allowances page.
* To update an allowance, click on each allowance that has been updated by the amendment.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the amendment documentation.
* Click the **Update Allowance** button to save your changes.
* Click on the **Expenses** tab in the lease sidebar menu and then click on the **Deposits** tab.
* To add a new deposit, click on the **Create Deposit** button towards the top right corner of the deposits page.
* To update a deposit, click on each deposit that has been updated by the amendment.
* Add any relevant notes in the **Notes** tab.
* Add a citation link to the amendment documentation.
* Click the **Update Deposit** button to save your changes.
* Click on the **Clauses** tab in the lease sidebar menu.
* Click on any clauses that have been updated by the amendment.
* Update the description by adding a summary of how the clause was modified by the amendment.
* Add a citation link to the amendment documentation.
* Click the **Update Lease Clause** button to save your changes.
* Review all of the lease data that you've entered to make sure that everything was entered correctly.
* You may wish to view the Lease > Log for all activity that occurred to set up the Lease.
* Once you've validated your lease data, click the **Publish Lease** button at the top of the lease page to publish your lease.