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Contents

Overview of Property Manager.......................................................................
Property Definition-......................................................................................
Defining a Lease......................................................................................
Milestones – .................................................................................................
Contacts.......................................................................................................
Location Information.....................................................................................
Insurance....................................................................................................
Rights.........................................................................................................
Obligations.................................................................................................
Options.......................................................................................................
Payments....................................................................................................
Draft to Approval Status...............................................................................
Schedule Events..........................................................................................
Deferring Payments...............................................................................
Integration With Oracle Payables..................................................................
Integration With Oracle Receivables .................................................
Lease Escalation....................................................................................
Lease Termination.......................................................................................
Lease Extension.....................................................................................
Premature Termination................................................................................
Regular Termination....................................................................................
Month End
Activities………………………………………………………………………..20

Lease Taken .

Lease Given .

and whether it is located in an office park. Names and roles of contacts for the property. Property Definition Property consists of the land. Address of the building. condition Area information Occupancy information Type of use planned for the office or floor Note: Office parks and regions need to be defined before defining properties New Property is identified Define Contacts Further define Contacts and their Roles at respective property Sites Define various attributes for the Property Activate Property . and the buildings. sections. status. We can also assign the building to a geographical region. On setting up properties. tenure. Building features-class. the information that needs to be entered consists of:        Name or code of the building. and office. floor. floors.1. and offices that we are managing with Property Manager.

and exporting schedules to Oracle Payables. we can use the Leases window to update our lease information. authorizing payment schedules. For example. such as:      Abstracting the lease and related documents to identify basic information about the terms of the lease. We can modify our lease information in two ways: Enter an amendment. Staying informed about decisions we have to make and tasks we have to perform on a timely basis. We use the Amendment feature to record any amendments we have made to the lease. Keeping track of any additional information relevant to the lease.1 Defining a Lease New Lease is defined Provide Unique/General Lease descriptors Enter Contacts information Enter Location details Enter Payments details Enter Insurance details Enter Rights details Enter Obligations Define Options Enter Notes Defining Milestones The Leases window and the schedule creation feature will help us to expedite many lease management tasks. when we create a lease amendment to terminate a lease early.1. If any of the terms of the original lease that we abstracted are later modified. Setting up payment schedules. we can update our information in . as well as information about the parties to the lease.

1. terminated and active. we can enter .Property Manager with the Amendment feature. we must choose Sublease as the Lease Class)  Approval Status of lease  Lease status – month-to-month. To do this. Unique Lease Attributes  Name of Lease Number of Lease General Lease Attributes Type of lease (Gross Lease/Net Lease)  Abstracted by  Lease class – Ex:“Direct lease” indicating tenancy  Master Lease Name (We designate a master lease only if we are subleasing the property to a subtenant. we can use the Edit feature to update our lease information. which enables us to keep track of decisions and events that take place during the course of the lease. Edit the lease information. If we simply need to correct an error we made while entering information and we do not need to create a lease amendment.5 Insurance We can enter information about any insurance policies that cover the leased location in the Insurance tabbed region.4 Location Information When we enter information about a lease. and site of companies with whom we do business as part of administering the lease. along with information such as the user responsible and the amendment dates. we can describe the location that the lease covers by entering location information in the Location tabbed region of the Leases window.2 Milestones Most of the tabbed regions in the Leases window include the Milestones feature.3 Contacts We keep track of the name. and enter separately the amount of insurance that was actually purchased under the specified policy. if any. The amendment feature allows us to keep a history of modifications made to the original lease agreement. role. holdover. In the Dates region. Milestones can be set up in these tabbed regions:  Details    Insurance Options Payments Note: There is many to many correspondence between milestones and users 1. 1. In the Coverage Amount fields we can enter the amount of insurance that is legally required. 1.

or duties. 1. repairs” The Obligations tab would be used for mentioning Property tax.information such as the insurance policy effective dates. the policy number. data will be transferred from Oracle Property Manager to Oracle Payables.7 Obligations Obligations outline which party is responsible for performing or paying for specific services.6 Rights Rights are entitlements granted by the landlord to the tenant. 1. maintenance. modifications to the leased property. escalation or abatement Frequency with which payments are to be made Schedule day (defaults to invoice date in Oracle Payables) Area type Start date and end date Supplier.to install antennae” and “right of first refusal to adjoining space”. costs.8 Options The lease may specify options that the tenant or landlord can exercise at different times during the course of the lease. supplier site. Stamp duty etc.9 Payments/Receipts During the consolidation of the monthly information. The information includes:          Term template to be used for the transaction Location of the transaction Purpose of the transaction Type of transaction – they maybe base. direct. These include “purchase of property by the tenant. extension of lease period.10 Draft to Approval status When we change the lease status from draft to final and save the lease after entering the transaction term information. and the company that is supplying the policy. Before that is done a series of checks and validations need to be carried out within Property Manager ensuring people who have entered lease information do not have the authority to approve the lease. These include “right to assign or sublease”. 1. expansion of lease to cover additional property”. management. customer site 1. parking. This would constitute “MakerChecker” validation. “roof rights. customer. Ex-“Building-security. 1. In the payments tabbed region of the lease we enter detailed information about the transactions that we are setting up. Oracle Property Manager begins a concurrent process that .

with its original transaction date. if a payment is quarterly. We can display different groups of approved items. in the Payment Schedule Details window highlight the specific item we want to defer and choose the Defer button. for example:  All transaction items for one lease . we cannot defer any items it contains. a separate schedule event is created for each month starting with the commencement date of the lease and ending with the termination date. If a payment schedule is normalized. A schedule event is a record that shows the total amount of money that is scheduled to be paid to all suppliers on a specific date based on the terms of a specific lease.generates either a payment schedule. If the payment is not normalized. To defer a transaction item to a subsequent schedule event. Note: When we finalize and save financial transaction terms. including the original transaction date.12 Deferring Payments We can defer individual payment items from one schedule event to the next if the status of the payment event is Draft. Oracle Property Manager automatically creates a monthly schedule event for every month from the commencement to the termination of the lease. 1. These schedules are usually lists of monthly schedule events. will appear as an item in the next schedule event. Deferring a payment item does not change any of the item’s terms. and the amount of the item will be added to the new event’s total amount.13 Integration with Oracle Payables All payment items that are approved can be exported to Oracle Payables. in the Enter Leases window. If the same term is normalized. Property Manager generates schedules for each month from the term start date to the term end date. The deferred item. The information in each schedule event includes:      Lease number and name Schedule date Approval status and name of approver Period name Total amount 1. Property Manager creates only the schedules that are needed. If the status of the event is ‘Approved’. 1. For example. To display approved items in the Export to Payables enter search criteria in the Find window.11 Schedule Events The schedule event is derived from the terms entered for the payments in the Payments tabbed region of the Lease window. When the concurrent process is complete we can view the schedule in the “Authorize Payments” window. Property Manager will create four schedules per year.

   All transaction items for multiple leases that occur within a specified schedule or due date range All transaction items for multiple leases that have the same period name. supplier name. The extension end date cannot be earlier than the lease termination date. not–normalized payment terms are extended only if the extension does not overlap with an approved schedule. In the Find Payments window we can enter search criteria to retrieve the specific payment items that need to be approved. Lease Terminations and Extensions: Changing Lease status from Active to Month-to-month When we change the lease status from Active to Month–to–Month. The criteria available are the following:            Operating Unit Lease Name Number Schedule Dates (range) Due Date (range) Payment Purpose Period Name Amount (range) Supplier Name Invoice Number Exported check box Lease Escalation We handle lease escalation in PM through standard lines in the Payments tab of the lease. payment schedules items are created for the new period that has been added. purpose. When we save the changes. Exporting Payment items to Oracle Payables We can export any individual payment item that is included in an approved payment schedule event. When the lease status changes from Active to Month–to–Month. or customer name. the Extension End Date field becomes required and the Termination Date field is disabled. We specify the items that are not required to be exported by un-checking the Export check box. . Leases and Documents > Payments > Export to Payables Note: We can export payment items to Oracle Payables by using the Submit Request window to run the Export Payment Items to AP concurrent program. All transaction items that have an amount that falls within a specified amount range. The rent increase will be described by standard increased amounts with periods during which the increased amount will become active.

we must manually reinstate the early– terminated terms of the lease. If an earlier termination date is entered. and that early termination is not allowed in the period for which payments are already authorized. index rent.Otherwise.15 Regular Terminations The lease termination is the end link in the process of administering a lease. there is no change to the lease. rent index. The Extension End Date field is disabled. and the payment term end dates are all terminated early to the date entered in the Termination Date field. For each record that is terminated early. the lease termination date must be greater than the date of the last approved schedule. a message appears notifying us that there are outstanding deferred payments and early termination is not allowed in the period for which payments are already authorized. a message appears notifying us that there are outstanding deferred payments. The schedule day for the new term would be the same as the original term. the billing terms. the index rent and the variable rent termination dates. Termination can be handled through a lease amendment and input of the requisite amendment commencement date. . We are required to change the lease termination date. and variable rent. and there are payments deferred to the next period. The start date and end dates of the billing term defaults to the lease commencement and lease termination dates. 1. Changing Lease status from Terminated to Month-to-month or Active It is possible to move from a Terminated status back to one of the other statuses. Changing Lease status from Active to Terminated If a lease is terminated and the termination date is unchanged. 1. If we reinstate an early–terminated lease to Active. and variable rent. During lease definition there is a field that allows us to specify the termination date. then Property Manager end dates all billing terms and index rents associated with that date. as well as any tenancies must be set up or extended. Note: When early terminating a lease with payments deferred to the next period. the expiration date for the associated tenancies. a new not–normalized item is created. When a lease is terminated early. Property Manager does not automatically reverse bills and associated accounting and straight-line impact if the lease is terminated earlier than the last transferred schedule. Changing Lease status from Month-to-month to Active When changing from Month–to–Month status to Active status.14 Premature Terminations If we terminate a lease early.

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Month End Process Generate Scheduled Payment/Receipt Event Defer Payment items if necessary Convert from Draft to Approved status Display Approved schedules in the “Authorize Payments” window Export to Oracle Payables .