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This setting allows you to determine the default duration of a lease which is used in Online Availability lease applications or when converting a prospect into an applicant. Typically, a lease term is a number of months (12, 24, etc.), however it can be a specific time period. (Example: Student housing might set one up called Fall 2014 (8/1/14 – 12/31/14).
Create a lease term by clicking on "Add". Enter the period duration and the properties that it applies to, then save.
To edit an existing lease term, select the term name and click "Edit". To delete a lease term, select the lease term name and click "Delete".
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