Add a lease to an asset instance
Add a Lease block on an asset instance to record provider details, commercial terms, and whether the lease auto-renews or has a fixed expiry date.
Before you start
You need the Manager role for the Premises module to add, edit, or delete asset blocks.
Open the asset instance from Premises > Assets. Lease blocks are available on asset instances only, not on asset models or classes.
Add a lease
Create the Lease block from the asset instance’s Asset Blocks section.
Open the asset instance from Premises > Assets.
In the Asset Blocks section, click Add Block.
Select Lease.
Enter the lease details, including commercial information and renewal settings.
Click Create Lease.
Each asset instance can have one lease. If a lease already exists, update that lease instead of adding another. The saved block appears as a Lease Agreement card on the asset.
Lease fields
The lease form captures commercial terms, dates, and renewal settings for the asset instance.
Field | What it records |
|---|---|
Provider | Lessor or leasing company |
Reference | Lease or contract number |
Amount | Recurring payment amount |
Currency | Currency for the amount |
Frequency | Payment frequency: Monthly, Quarterly, Annually, or Other |
Payment Schedule | Custom payment schedule. Appears only when Frequency is Other |
Lease Type | Operating or Finance |
Auto-Renew | Rolling lease with no fixed expiry date |
Start Date | Date the lease starts |
Expiry Date | End date for fixed-term leases. Hidden when Auto-Renew is on |
Notice Period | Optional free-text notice period |
You can also attach files while creating or editing the lease. For block attachments and scan visibility, see Asset Blocks.
How Auto-Renew affects expiry
Turn on Auto-Renew when the lease rolls forward and has no fixed end date.
The Expiry Date field is hidden and cleared.
The lease is saved without an expiry date.
The Lease Agreement card shows Auto-Renewing instead of an end date.
Turn off Auto-Renew for a fixed-term lease. The Expiry Date field returns and is required. The expiry date must be on or after the start date.
Edit or delete a lease
Update commercial details or remove the lease from the existing block on the asset instance.
Open the asset instance from Premises > Assets.
Find the Lease Agreement block.
Edit the lease details and click Update Lease, or delete the block to remove the lease.
After you delete the lease, you can add a new Lease block to that asset instance.
Lease expiry insights
Fixed-term asset leases feed the Asset Leases Expiring Soon and Asset Leases Expired widgets in Premises insights.
Auto-renewing leases are excluded from those widgets because they have no fixed expiry date.
To monitor warranties, insurance, and other asset expiries alongside leases, see Asset Management.
What’s next
For every block type you can add to an asset, see Asset Blocks.
To create or open asset instances, see Asset Instances.