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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.

After updating a Lease, selecting Summarize Changes will return the associated Accounting Lease to Needs Review status. This notifies the Accounting team that changes have been made by the Real Estate team and provides an opportunity to review and update the Accounting Lease as needed. Accounting Leases with a status of Needs Review are excluded from reports and will not be included in automated journal entries until the approval process is completed again.

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Critical Dates

Many Critical Dates are automatically populated based on information entered in other areas of the system. This reduces manual data entry and helps ensure that important deadlines are captured consistently across your lease portfolio.Critical Dates may be generated from the following sections:
  • Expense Schedules
  • Tenant Improvement (TI) Allowances
  • Deposits
  • Areas
  • Options (such as renewal, termination, and expansion options)
  • Associated Notice Periods
When relevant dates are entered in these sections, the corresponding Critical Dates will automatically appear in the Critical Dates tab.
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 start of the lease term as defined in the lease agreement.
  • Expiration: the official expiration date defined in the lease agreement.
In addition, Spacebase allows you to track the following important critical dates:
  • Effective Date: the effective date of the lease agreement. This is tracked on the lease file level so that you can track the effective date of all of your lease documents (lease agreement, amendments, etc.).
  • Rent Commencement: the date that the rent payments commence for a lease. The rent commencement date is often automatically created for you when you create a rent schedule as part of the lease record.
  • Open Date: the date that the leased premises open for business.
1

Navigate to the lease that you would like to update

2

Click on the Edit Lease button

3

Click on the Dates & Options tab in the lease sidebar menu

4

Click on the Create Date button

5

Select the Category

In the Category field, select the category for the date that you are adding.
6

Select the Area type

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.
7

Select the Date type

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.
8

Add notes and a citation

Add any relevant notes in the Notes field, and add a citation link to the lease documentation.
9

Save your changes

Click the Update Critical Date button to save your changes.
The best way to handle leases with an estimated commencement date is to create the commencement date using an estimated fixed date, and select Yes for the “Is this date an estimate?” field. You would then update the commencement date once the actual commencement has been confirmed.Leases will often include an estimated or projected commencement date that can be used as a placeholder commencement date when abstracting the lease.In addition to creating an estimated commencement date, a best practice would be to also create a lease issue capturing the fact that the commencement date is an estimate. To create a lease issue, you would go to the Issues tab in the lease sidebar menu, and then click on the Create Lease Issue button in the top right corner of the page.Lastly, to pull a summary of all of your upcoming estimated critical dates, you would go to the Critical Dates page in the main sidebar menu, click on Filters, click on Estimated Date, select Yes, and then click on the Filter button at the bottom of the Filters section. To export your filtered critical dates as a report, click on the Export Data button in the top right corner of the page.
Important Critical Date Categories can be configured to highlight the most significant dates across your lease portfolio that you would like to track. Once enabled, a new Important Critical Dates tab will appear in the Critical Dates area visible only to your user account.How to configure Important Date Categories
1

Click Account in the main navigation menu

2

Select Account Settings

3

Select Update Settings

4

Choose your important date categories

In the Important Date Categories section:
  • Select the existing Critical Date fields you would like to designate as important.
  • Select the right arrow to move them into the Chosen important date categories section.
  • Select the Update Account button to save your changes.
How it works
  • Uses existing Critical Date fields and categories in Spacebase.
  • Creates a new Important Critical Dates tab within the Critical Dates page.
  • Applies to only your user account.
  • Displays only the selected date fields when they are populated in a lease.
The tab will display all populated dates that have been designated as Important Date Categories, providing a centralized view of your organization’s most critical lease dates.

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Lease Issues and Updates

Lease issues are created by your lease abstractor to capture things like estimated commencement dates, missing operating expenses, etc.You can review the lease issues for each lease by clicking on the lease issues badge in the lease header. You can also review the lease issues across all of your leases by clicking on the lease issues icon in your overall account header.On the lease issue page, you can manage that issue in the following ways:
  • To respond to the abstraction team with some additional information, click Create Update Request to create a new update request based on what you would like to update in the lease record. Examples include sharing a Commencement Date, a Commencement Letter, or Operating Expenses with the abstraction team. When the new update request has been completed, the lease issue associated with that update request will be automatically closed out.
  • To close out a lease issue if it’s no longer relevant to you, click the Close Issue button.
  • To keep the issue as a reminder to confirm pending data, just leave the lease issue as is. An example would be a commencement date that has not yet occurred.
The comments that you can add on the lease issue page are not automatically shared with your lease abstraction team. Lease abstractors that do not have Portfolio Admin permissions in your account lose access to a lease as soon as it is published, so you will need to create a new update request in order to give them access to that lease again.

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Recurring Leases

To set up a recurring lease, you will need to update the following fields on your lease.Define the recurring term
  • Navigate to the lease that you would like to update.
  • Click on the Edit Lease button.
  • Click on the Dates & Options tab in the lease sidebar menu and then click on the Options tab.
  • Click on the recurring term option.
  • In the Recurring term length field, enter the length of the recurring term.
  • Click the Update Option button to save your changes.
Set the Projected Expiration date
  • Click on the Dates & Options tab in the lease sidebar menu.
  • Click on the Create Date button.
  • In the Category field, select Projected Expiration.
  • In the Date field, enter the date that you are projecting the lease to expire.
  • Click the Create Critical Date button to save your changes.
Set the termination notice period
  • Click on the Dates & Options tab in the lease sidebar menu and then click on the Options tab.
  • Click on the recurring term option.
  • In the Notice period field, enter the number of days before the end of the recurring term that you need to provide notice to terminate the lease.
  • Click the Update Option button to save your changes.
After you have set up your recurring leases, you can manage them in the following ways:
  • Recurring tab: Navigate to the Leases page and click on the Recurring tab to view all of your recurring leases. This tab will show you the recurring term length, the projected expiration date, and the termination notice deadline for each recurring lease.
  • Email summary: Spacebase will automatically send you an email summary of your recurring leases 90 days before the termination notice deadline. This email will include a list of all recurring leases that have an upcoming termination notice deadline in the next 90 days.
To extend the lease term for a recurring lease, you will need to update the following fields on your lease.Open the abstract view of the lease
  • Navigate to the recurring lease that you would like to extend.
  • Click on the Edit Lease button.
Update the Projected Expiration date
  • Click on the Dates & Options tab in the lease sidebar menu.
  • Click on the Projected Expiration critical date.
  • Update the date to reflect the new projected expiration date.
  • Click the Update Critical Date button to save your changes.
Update the rent schedule
  • Click on the Finances tab in the lease sidebar menu.
  • Click on the Edit button next to the rent schedule.
  • Update the rent schedule to reflect the extended lease term by adding adjustments or updating the schedule end date.
  • Click the Update Expense Schedule button to save your changes.
All recurring leases must have a Lease term type of Recurring and have a Termination Notice entered in the Lease.
1

Select the Terminate Lease button in the top right corner

2

The Terminate Lease window will appear

3

Enter the Termination notice given date

4

Enter the Expiration date

5

Select the Terminate Lease button

6

The Terminate lease confirmation window will appear

7

Review the Dates, Areas, and Expense Schedules for accuracy

8

Confirm

Select the Confirm & Terminate Lease button to apply the updates and terminate the recurring lease.
A recurring lease will not move to the Expired section of the Lease tab until the Terminate Lease process is completed.

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Terminations

Open the abstract view of the lease
  • Navigate to the lease you need to terminate early.
  • Click on the Edit button in the top right corner of the lease page.
Upload the termination documentation
  • Click on the Files tab in the lease sidebar menu.
  • Scroll down to the Upload Additional Files section.
  • Upload any early termination documentation.
Update the expiration date
  • Click on the Dates & Options tab in the lease sidebar menu.
  • Click on the main Expiration critical date.
  • Update the date to reflect the early termination date.
  • Add any relevant notes in the Notes tab.
  • Add a citation link to any termination documentation.
  • Click the Update Critical Date button to save your changes.
Update the lease areas
  • Click on the Areas tab in the lease sidebar menu.
  • Click on each area that is terminating early and update the end date to match the early termination date (it may be helpful to set up the area end date as a relative date that is on the same day as the main lease expiration date).
  • Add any relevant notes in the Notes tab.
  • Add a citation link to any termination documentation.
  • Click the Update Area button to save your changes.
Update the rent schedules
  • Click on the Finances tab in the lease sidebar menu.
  • Click on the Edit button next to any expense schedules that are impacted by the early termination.
  • Update the expense schedule to reflect the early termination date (you may need to delete adjustments, as well as update the schedule end date).
  • Add any relevant notes in the Notes tab.
  • Add a citation link to any termination documentation.
  • Click the Update Expense Schedule button to save your changes.
Update any termination options
  • Click on the Dates & Options tab in the lease sidebar menu and then click on the Options tab.
  • If there is an existing termination option in the lease, click on the relevant termination option, and enter the early termination option in the Expiration date field and the exercise date in the Option exercised field.
  • If there is a termination payment, enter the termination payment amount in the Payment amount field.
  • Add any relevant notes in the Notes tab.
  • Add a citation link to any termination documentation.
  • Click the Update Option button to save your changes.
1

Navigate to the Leases tab

2

Choose the Lease row from the table

3

Select the Date & Options tab

4

Select the Options tab

5

Exercise the option

In the right corner of the Termination Option window select Exercise Option.
6

Populate the Exercise Termination Option window

  • Date exercised (required)
  • Expiration date (required)
  • Payment date
  • Payment amount
7

Confirm

Press Exercise Option to terminate the lease.

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Other

1

Navigate to the lease that includes the file or document that you would like to delete

2

Click on the Edit Lease button

3

Click on the Files tab in the lease sidebar menu

4

Open the file edit page

In the row for the lease file that you would like to delete, scroll all the way to the right, click on the horizontal ellipses icon (”…”), and select Edit.
5

Delete the lease file

On the Update Lease File page, scroll to the bottom of the page, and click the Delete Lease File button.
6

Confirm deletion

Click OK in the confirmation window.
1

Navigate to the lease that you would like to delete

2

Click on the Edit Lease button

3

Delete the lease

Click on the Abstract Actions button, and select Delete Lease.
4

Confirm deletion

Click OK in the confirmation window.
You cannot delete a Lease if it has an associated Accounting Lease.
Your lease portfolio can be displayed in a map view by navigating to the Leases tab and selecting View as Map in the upper-right corner. All leases published in Spacebase will appear as pins on an interactive map. Selecting a pin will open a summary window containing a direct link to the corresponding Lease record.