Subleases, Track Non-Renewal Reasons and more
Good news! We just rolled out some of our most requested features:
Subleases
On the suite card, users can now enter a sublease and add relevant deal terms to track alongside the original tenant.
🚨 What's new?
The ability to add a sublease from the suite slide up via the End Lease dropdown
The following fields can be captured and tracked within the Sublease:
Sublessee Name
Base Rent
Additional Rent
LCD/LXD
Security Deposit
Amount of space being leased out
Comments
A sublease overview will appear on the suite card once a sublease is added for quick viewing via the rent roll or stacking plan.
💪 Why is it valuable?
While the original tenant will remain the liable tenant, adding a sublease allows for improved visibility into asset revenue by tracking the secondary income.
Improved occupancy tracking and source of payments
Subleases no longer need to be added as a new deal not tied to the original lease.
'Other' Encumbrance Type
🚨 What's new?
The option to add an encumbrance of type 'Other' in deal terms if the encumbrance is not one of the current ones offered today.
The 'Other' option will allow for the selection of the property, suite, notice date or period, effective date, and the term that it is effective for.
A card showing the total count of Other encumbrances will exist at the top of the encumbrance table on a property.
💪 Why is it valuable?
Leases are hyper-unique and need flexibility.
The ability to track encumbrances that Dottid does not have will allow customization and reduce limitations for users
Encumbrances that did not fit into our current set will now be trackable via our launchpad exports, encumbrance schedule, and deal terms exports.
Track Non-Renewal Reasons
Users can now add reasons why a tenant did not renew via the suite card's activity feed milestones.
🚨 What's New?
The tenant name will now be displayed alongside the following milestones on the suite card's activity feed:
Lease Commenced
Lease Ended
When a tenant's lease ends on the suite card, users now have the ability to mark the reasons why the tenant did not renew, including:
Business Expansion
Business Contraction
Uninhabitability
Tenant Relocation
Negotiation Disagreement
Negligent Landlord
Other
💪 Why is it valuable?
Being able to view the history of reasons why a tenant did not renew will allow for data-driven decision-making on what leasing strategies, deal terms, or suite improvements are needed for better renewal numbers.
Since Dottid's suite card houses data from all historical tenants, having the tenant name as the subheader of all activity feed milestones allows for better organization of suite occupancy history.
Insights on reasons why a tenant did not renew can serve as an important data point for evaluating vacancies and potential action needed to lease the space.