Leases

Leases are the core financial agreements in Aqarjia. They connect tenants to units and define the terms of occupancy, including rent amount, duration, and billing schedule.

Creating a Lease

  1. Navigate to Finance > Leases and click Create.
  2. Configure the lease terms:
    • Unit -- The unit being leased. Only vacant units or units with expiring leases are shown.
    • Tenant -- The tenant entering the agreement.
    • Lease Type -- Residential or Commercial.
    • Start Date -- When the lease begins.
    • End Date -- When the lease expires.
    • Rent Amount -- The amount due per billing period (in KWD).
    • Billing Frequency -- How often rent is invoiced.
    • Security Deposit -- The deposit amount, if required.
  3. Click Save.

Each lease is assigned an automatic reference number (e.g., LS-001) for easy identification.

Lease Types

Type Description
Residential For apartments, villas, and other living spaces.
Commercial For offices, shops, warehouses, and commercial spaces.

Billing Frequencies

Choose how often invoices should be generated:

Frequency Period
Monthly Every month
Bimonthly Every two months
Quarterly Every three months
Semi-Annual Every six months
Yearly Once per year

Lease Lifecycle

A lease moves through the following stages:

  1. Draft -- Created but not yet active.
  2. Active -- Currently in effect.
  3. Expiring -- Approaching the end date (within the notification window).
  4. Expired -- Past the end date.
  5. Terminated -- Ended early by either party.
  6. Do Not Renew -- Flagged to not be renewed when it expires.

Viewing a Lease

The lease detail page shows:

  • Terms -- All financial and contractual details.
  • Invoices -- All invoices generated for this lease.
  • Payments -- Payment history.
  • Deposit -- Security deposit status.
  • Documents -- Attached lease contracts and amendments.

Renewing a Lease

When a lease approaches its end date, you can renew it by creating a new lease for the same unit and tenant with updated dates and terms. The original lease remains in the system for historical reference.

Always review rent amounts during renewal. Aqarjia preserves the full history of lease terms across renewals for audit purposes.

Terminating a Lease

To end a lease early:

  1. Open the lease and use the Terminate action.
  2. Specify the termination date and reason.
  3. The system will handle the deposit disposition based on your configuration.