The fields in the base rent section are for financial information pertaining to the lease. You will be required to enter in the following information:
- Borrowing Rate
- Payment Amount
- Payment Frequency
- First Payment Date
- Last Payment Date
The Payment Frequency will determine how often you make your payments. This can be set to Monthly, Quarterly, or One Time payments.
You should complete the optional fields in the shade box if your payments change annually by a constant rate, such as a 5% annual increase, or a $75.00 annual increase
Select "Add Custom Payment" if your payments change, but the terms by which they change are not constant. Selecting Add Custom Payment will allow you to enter payment amounts by varying date ranges.