Lease is the heart of Property manager. Every accounting transaction in Property Manager is done at the lease level, and each activity in Property Manager eventually hits the main lease.
Various transactions/changes occur during the life cycle of a lease. Lease workbench can be used to make these adjustments or add new leases. It is often necessary to generate or make modifications to a large number of leases, and making those changes manually might be cumbersome. Oracle Property Manager provides public APIs that may be utilized in bulk creation or lease modification to fulfil the needs of business users. This gives customers additional freedom.
In this article, we’ll go over the lease update API and try to figure out how it handles various lease attributes for updating.
Using lease update API (PN_LEASE_PUB.UPDATE_LEASE), users can perform
- Amendments at Lease level like
- Changing the Lease termination Date
- Changing the discount interest rate
- Updating or entering the adder rate
- Amendment at Payment term level like
- Contracting term
- adding new term
- Adding or updating an option
- Deleting or cancelling an option
- Lease Reclassification
- Changing Accounting Method
Please see Doc ID 2655705.1 for further details on the lease update API and sample API codes for a couple of the scenarios listed above.