Use the Lease Contract Auto-Extension feature to automatically extend each Lease Contract individually. This functionality is available starting from v2.7.1.0 version.

1. Go to Real Estate Setup and set the parameter related to Automated Extension:
   • Go to System Feature Configuration section and turn on Use Automated Contract Extension, so related actions could be found and fields on the Lease Contract would be visible.
     

     

2. To automate Lease Contracts Extension, navigate to Job Queue Entries and create a recurring task. For more information, see the How to Manage Job Queues guide. 
3. Go to Lease Contract Card and complete the Lease Contract Auto-Extension setup for each contract individually. This is only possible for contracts with the status New.
   

   

• Enabled. It is possible turn on and off the Lease Contract Auto-Extension functionality for each contract.
• Extension Period. If the automatically extension is enabled it is mandatory to specify the Extension Period.
• Extend Price. If you need to extend the prices, enable this parameter. The functionality will only extend prices that have the same expiration date in the Service Prices table as the Contract Valid Until date in the Lease Contract header and the Expiration Date in the Lease Contract Lines. This means that if a Service price has already expired before the automatic extension date, or is still valid beyond it, those prices will not be affected. 
• Extend Price Indexation. If you also need to extend the price indexation, enable this parameter. This functionality will only work if price indexation has already been applied to the price being extended. Otherwise, an informational message will be displayed. If the price indexation data is valid and correct, the automated extension will update the 'Indexing Ending Date' value.
• Email Notification Settings. It is possible to send email notifications both before the automatic contract extension and on the extension date. 
  To send notifications before the extension, enable the Send Forewarning parameter and specify the Forewarning Period.
  To send notifications on the extension date, enable the Notify on Extension Date parameter.
  Please enter the recipients' email addresses, which will be used for both types of notifications.
   

Notes:

Automated Extensions and Email notifications will be executed automatically based on the Job Queue Entry settings and only for Valid contracts.

When using the automated extension for Price Indexation, ensure that indexation is performed on schedule.

 

To review how the Lease Contract Auto-Extension feature was applied to each Lease Contract, please refer to the Automated Extension Log: