Key Lease Dates to Track | Leasecake Help Center
Key Lease Dates to Track
Leasecake University
October 30, 2024
Here are some important dates we recommend tracking in your Leasecake account to get you started with managing key events efficiently.
| ## Lease Events | ## Description | ## Example |
| Lease Commencement Date | The start date of your lease agreement. All other critical dates are often tied to this date. | Lease begins on January 1, 2024, with all obligations starting from this date. |
| Rent Due Dates | The dates when rent must be paid, usually monthly or quarterly. Late payments can incur fees or interest penalties. | Rent is due on the 1st of every month. |
| Rent Escalation Dates | Scheduled rent increases over time, which may be tied to specific dates or occur annually. Adjust your budget accordingly. | Rent increases by 3% on January 1st each year. |
| Lease Renewal Deadline | The last day to notify your landlord if you intend to renew the lease. Missing this deadline may result in losing renewal rights or facing higher market rents. | Notify landlord by June 30, 2025, if you want to renew a lease expiring December 31, 2025. |
| Option Deadlines (e.g., Expansion, Extension, or Termination Options) | Dates for exercising options like expansion, extension, or early termination. Missing these deadlines can impact your flexibility. | Exercise an extension option by December 1, 2024, for an additional 3-year term. |
| CAM (Common Area Maintenance) Reconciliation Deadlines | The deadline for reviewing and disputing CAM charges. Missing this date means you may be stuck paying incorrect charges. | Review and dispute CAM charges by March 31, 2024. |
| Insurance Renewal Date | Ensuring insurance policies are renewed on time is crucial for compliance with lease terms. | Renew liability insurance by July 15, 2024. |
| Real Estate Tax Payment Deadlines | If you are responsible for property taxes, these dates are crucial to avoid penalties or late fees. | Pay property taxes by November 1, 2024. |
| Lease Expiration Date | The final date of your lease. Failing to plan for this could leave you without a location or scrambling to negotiate a new lease. | Lease expires on December 31, 2025. |
| Renewal, expansion, or termination option deadlines | Missing an option deadline can cost you valuable rights to extend or adjust your lease, potentially forcing relocation or renegotiation at less favorable terms. | Lease renewal notices, termination notices |
Disclaimer
The information provided is for general guidance and should not be taken as legal advice. Lease agreements can vary, and we recommend consulting with a legal professional for advice specific to your situation.
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