Modifying Lease Details and Renewal Options in FinQuery

Issue: The client is experiencing difficulty modifying the lease end date and updating or deleting the renewal option within FinQuery.

Example: Original Lease Details:

• Lease #: 12878-2-000114

• Original End Date: 07/31/2030

• Corrected End Date: 12/31/2034

• Renewal Options:

• 01/01/2025 - 12/31/2029

• 01/01/2030 - 12/31/2034

• Minimum Monthly Rent Changes:

• Effective 01/01/2025: $11,333.33 with a 3% annual increase

Step-by-Step Guide to Modifying Lease-End Dates and Renewal Options

Step 1: Access the Lease Details

1. Login to FinQuery:

• Navigate to the FinQuery portal and log in using your credentials.

2. Locate the Lease:

• Use the search functionality to find Lease #12878-2-000114.

• Click on the lease to open its details.

Step 2: Modify the Lease End Date

1. Navigate to Lease Dates:

• Within the lease details, find the section labeled “Lease Dates.”

• Click on the “Edit” button next to the lease end date.

2. Update the End Date:

• Change the lease end date from 07/31/2030 to 12/31/2034.

• Save the changes.

Step 3: Update Renewal Options

1. Access Renewal Options:

• Locate the “Renewal Options” section within the lease details.

• Click on the “Edit” button next to the renewal option you need to update or delete.

2. Modify or Delete Options:

• To update the renewal option:

• Change the start date of the option to 01/01/2025.

• Ensure the end date reflects 12/31/2029.

• Add the second renewal option from 01/01/2030 to 12/31/2034.

• To delete the renewal option:

• Select the option and click “Delete.”

• Confirm the deletion.

Step 4: Update Monthly Rent

1. Navigate to Rent Details:

• Find the “Rent Details” section within the lease.

• Click on “Edit” next to the rent details.

2. Adjust Rent Amount:

• Update the minimum monthly rent to $11,333.33 starting from 01/01/2025.

• Set the annual increase to 3%.

3. Save Changes:

• Save all changes to ensure they are reflected in the lease details.

Step 5: Review and Confirm Changes

1. Verify Updates:

• Review all modifications to ensure accuracy.

• Check the lease end date, renewal options, and rent details.

2. Finalize Changes:

• Confirm that all changes are saved and properly reflected in the lease details.

Additional Tips:

• Consult Help Resources:

• If you encounter issues, refer to the Help section or instructional videos available in FinQuery.

• Contact Support:

• For further assistance, reach out to FinQuery support for guidance on complex modifications.

By following these steps, you can successfully modify the lease end date and renewal options, ensuring accurate and up-to-date lease details within FinQuery.