Leases overview
Leases are records of property rental agreements. You use them as comparable rent evidence in a valuation, in the same way you use sales as comparable sale evidence.
Each lease holds the address, the parties, the term, the rent, and your commentary. Leases belong to your organisation, so everyone in your organisation with access sees the same records.
Lease statuses
Every lease has a status that VOW works out for you from the commencing date, the terminating date, and today's date. You never enter it by hand.
| Status | Meaning |
|---|---|
| Upcoming | The lease has not started yet. |
| Active | The lease has started and does not end within the next 90 days. |
| Expiring | The lease ends within the next 90 days. |
| Expired | The terminating date has passed. |
The lease workflow
Most people use leases in one of two ways:
- Build up your own records. Create leases as you come across them, so they are ready to use later.
- Attach leases to a valuation as evidence. Search your records for leases that compare well with the property you are valuing.
In this section
- Finding leases: search and filter the Leases page
- Creating and editing leases: add a lease, update it, clone it, or delete it
- Supporting leases: attach leases to a valuation as rent evidence
Reference
See the Leases reference for a description of every column, field and button.