Options

Optional; found on the Term/Options tab.

You may enter all renewal options for the lease, whether or not you expect to exercise them. You must enter rent information for any options entered.

Recognize

Check this box if the option should be included in the minimum lease term because it has already been exercised, exercise is “reasonably assured,” or it meets the other criteria of FAS 13, ¶5f. EZLease automatically checks the boxes of earlier options or unchecks the boxes of later options when you check or uncheck this box.

Contract

Check this box if the contract has been signed for the option. You can optionally determine the lease term for the Future Minimum Rents report based on this setting rather than the normal Recognize box. If this box is checked, Recognize is automatically checked. EZLease automatically checks the boxes of earlier options or unchecks the boxes of later options when you check or uncheck this box.

Begin

The begin date of the option is set automatically. The first option begins the day after the Base EndDate of the lease. Each additional option begins the day after the prior option ends.

End

By default, the first option runs for five years. After you set the first option”s end date, the next option by default has the same length as the option preceding it.

Notice

If this box is checked, the Notice Dates report will display a notice when this option is scheduled to expire, just like the expiration of a lease (assuming that you have set the System Option to displayexpirations in the report).