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CreatingaNewLease
Objective
Set up a new lease linking a tenant to a unit, with rent terms, dates, security deposit, and escalation schedule.
Prerequisites
- •Property and Unit already created
- •Tenant record exists (or create one during this flow)
- •You must be signed in as a Manager, Admin, or Master Admin
Step-by-Step Instructions
- 1
Navigate to Leases from the left sidebar.
- 2
Click + New Lease in the top-right.
- 3
Fill in the lease details:
- —Property and Unit
- —Tenant: Select existing or click + Add Tenant to create inline.
- —Lease Type: Residential, Commercial, or Rent-Stabilized (HPD).
- —Start Date and End Date
- —Monthly Rent and Security Deposit
- —Permitted Use (Commercial only)
- 4
Configure the Escalation Type: Fixed %, CPI, Flat Amount, or None.
- 5
Click Create Lease. Valix auto-generates a rent schedule based on your escalation settings.
- 6
Review the rent schedule under the Rent Schedule tab on the lease detail page.
Troubleshooting Tips
Pro Tip:Upload the signed lease PDF via the Documents tab, or use the AI Lease Scanner to auto-populate these fields from an existing lease PDF.
Note:For Rent-Stabilized (HPD) leases, the escalation rate is automatically set to the current NYC RGB guideline — you cannot override it.