Here are some important dates we recommend tracking in your Leasecake account to get you started with managing key events efficiently.
Lease Events | Description | Example |
Lease Commencement Date | The start date of your lease agreement. All other critical dates are often tied to this date. | Lease begins on January 1, 2024, with all obligations starting from this date. |
Rent Due Dates | The dates when rent must be paid, usually monthly or quarterly. Late payments can incur fees or interest penalties. | Rent is due on the 1st of every month. |
Rent Escalation Dates | Scheduled rent increases over time, which may be tied to specific dates or occur annually. Adjust your budget accordingly. | Rent increases by 3% on January 1st each year. |
Lease Renewal Deadline | The last day to notify your landlord if you intend to renew the lease. Missing this deadline may result in losing renewal rights or facing higher market rents. | Notify landlord by June 30, 2025, if you want to renew a lease expiring December 31, 2025. |
Option Deadlines (e.g., Expansion, Extension, or Termination Options) | Dates for exercising options like expansion, extension, or early termination. Missing these deadlines can impact your flexibility. | Exercise an extension option by December 1, 2024, for an additional 3-year term. |
CAM (Common Area Maintenance) Reconciliation Deadlines | The deadline for reviewing and disputing CAM charges. Missing this date means you may be stuck paying incorrect charges. | Review and dispute CAM charges by March 31, 2024. |
Insurance Renewal Date | Ensuring insurance policies are renewed on time is crucial for compliance with lease terms. | Renew liability insurance by July 15, 2024. |
Real Estate Tax Payment Deadlines | If you are responsible for property taxes, these dates are crucial to avoid penalties or late fees. | Pay property taxes by November 1, 2024. |
Lease Expiration Date | The final date of your lease. Failing to plan for this could leave you without a location or scrambling to negotiate a new lease. | Lease expires on December 31, 2025. |
Renewal, expansion, or termination option deadlines | Missing an option deadline can cost you valuable rights to extend or adjust your lease, potentially forcing relocation or renegotiation at less favorable terms. | Lease renewal notices, termination notices |
Disclaimer
The information provided is for general guidance and should not be taken as legal advice. Lease agreements can vary, and we recommend consulting with a legal professional for advice specific to your situation.
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