Create a MISC Lease

Miscellaneous (MISC) Lease

Each property in Rex Cirrus8 should have a MISC (Miscellaneous) Lease configured.

A MISC Lease is a dummy, vacated lease used for various accounting purposes, including:

• Recording and receipting Owner Contributions.

• Recording and receipting Insurance Claims.

• Journalling funds between properties belonging to the same owner.

• Calculating Owner Contributions towards Variable Outgoings (VO) for budgeting purposes.

How to Create a MISC Lease

A user with Trust Accountant access can create a MISC Lease by following these steps:

1. Navigate to Leases → Manage Lease → New Lease.

2. Select the Property requiring the MISC Lease.

3. Enter the following details:

   • Lease Code: MISC

   • Lease Name: Miscellaneous Property Income

   • Tenancy Location: Property address

   • Tenant Company: MISC (select the existing company record).

4. Select Save (green tick) to create the lease.

Important: A MISC Lease should be created for each new property and maintained as a vacated lease for miscellaneous accounting transactions.