Defining Contacts for a Lease

This chapter provides an overview of lease contacts and discusses how to establish lease contacts.

Understanding Lease Contacts

In Real Estate Management you can define multiple contacts for a lease. Contacts can be defined for tenants, landlords, portfolio managers, lease administrators, service providers, and so on. Contacts are a quick way to look up phone numbers, email addresses, and physical addresses of the people with whom you normally interact for this lease. Additionally, you can assign roles to the contacts for critical date processing such as email reminders of when a lease is up for renewal. When setting up your contacts, you need to understand how contacts are used and how Real Estate Management shares the contacts with other applications in the PeopleSoft system.

There are two types of contacts in the Real Estate Management system: principal and supplemental. The key differentiation is that you need to enter the data for supplemental contacts, whereas the principal contact information is obtained from the vendor or customer table.

Principal (Vendor or Customer) Contacts

A tenant on a lease is defined as a customer and the landlord is defined as a vendor in the PeopleSoft system. Customers or vendors can have associated contact information that needs to be setup in the customer and vendor tables, respectively. These contacts are known as principal contacts within the Real Estate Management system. When creating a lease, you must define a tenant (customer) for a receivables lease to perform billing transactions, and a landlord (vendor) for payables leases to process payment transactions. These tenants and vendors must be established in the system before they can be selected for use on a lease. A lease cannot be activated without this information.

When setting up a vendor, you can create vendor profiles to store all the information such as name, address, payment terms, as well as voucher processing defaults. Vendor information is principally shared by Payables and Purchasing, so that one or both departments can enter vendor information. You may want to set up your system so that a lease administrator or portfolio manager can enter vendor information, but only Payables users can approve vendors for payment, or vice versa; it’s up to you.

To create or update vendor profiles for all types of vendors in either product, you use the pages in the Vendor Information component. PeopleSoft has organized the system to help you easily enter, update, and inquire about the vendor.

All vendor information for regular vendors, one-time vendors, and permanent vendors is stored in the same set of vendor tables. So if you decide that the contractor that you used last week on a trial basis is the ideal company to use for a long term remodeling project, you merely update the Persistence field on the Identifying Information page, without rekeying information or storing redundant data.

Warning! A vendor must be set up and approved before you can assign them to a lease.

When setting up a customer, you must first understand the customer roles to determine the functional use of the customer ID. Customer information is associated with specific customer roles. You can use the customer General Information component to maintain information that applies to multiple customer roles and to select those roles. You can use the pages with role designations to enter processing attributes and additional information that are unique to the customer's function.

Bill to customers receive invoices, hence a tenant is considered a bill to customer. When you associate a customer with the bill to customer role, you establish default values and processing options that the system uses to generate invoices. For example, you can define attributes to generate consolidated invoices, require purchase order numbers, or bill freight charges at order entry or at shipment for each of bill to customer.

Warning! To send invoices to tenants, you must confirm the tenant is set up as a customer and that the Bill-To check box is selected.

Both the vendor and customer entry pages have facilities to enable entry of contacts, such as individuals who are associated to those vendors or customers by some role that they serve in those organizations. For example, vendor contacts can include account executives, billing clerks, collections agents, and so on. Customers contacts can include AP clerks, sales contacts, and so on. Since Real Estate Management shares the vendor and customer tables with other PeopleSoft applications, there can already be several contacts setup for these vendors and customers, which is inherited for display on the lease if that vendor or customer is chosen.

Note. Contacts from the vendor or customer tables cannot be updated in the lease, they must be updated on the vendor or customer common component pages. Supplemental contacts are changed on the lease directly, hence the reason why those fields are open and not display-only.

Supplemental Agreement Contacts

Supplemental agreement contacts enable you to add additional contacts specific to the lease. Although the vendor and customer tables have multiple contacts, these contacts may not be necessarily related to Real Estate Management. By adding the contacts directly to the vendor and customer tables, every application that shares the vendor or customer tables automatically displays those contacts. For example, the PeopleSoft Enterprise Inventory application uses the vendor table for purposes related to inventory processing.

Your organization can decide to simply add the Real Estate Management-specific contacts directly to the lease by using the supplemental agreement contacts. The supplemental agreement contacts can be used as a quick reference to important contacts that are not already setup. You do not setup supplemental agreement contacts prior to creating a lease. Supplemental contacts are used only for this lease. If you want to use the same contact on another lease, you need to add the supplemental contacts manually onto the other lease.

You can add, modify or delete supplemental contacts. At a minimum, you must enter the name of the contact. All other fields are optional. You can only delete one of these contacts, if the contact is not referenced either as a guarantor on a security deposit (for any lease) or on a critical date for this lease. Clicking the address link on the Phone/E-mail tab enables entry of the contact’s address. The address uses the standard address subpage so the information is formatted correctly for the selected country.

Prerequisites

Before selecting a tenant or landlord for a lease, you must first set up the tenant and landlord as a customer and vendor in the system.

See Maintaining Vendor Information.

See Maintaining General Customer Information.

Establishing Contacts for a Lease

This section discusses how to establish contacts for a lease.

Pages Used to Set Up Supplemental Contacts

Establishing Contacts

Access the Contacts page.

Customer or Vendor Contact

The contact information varies depending on the type of lease you are creating. The general information defaults from the Contacts page on the vendor and customer setup table.

Supplemental Agreement Contacts