Contracts are agreements with your companies that charge them for products and services your organization offers. A contract can include one-time charges (do not recur every month) or recurring charges (charged every month for the duration of the contract).
Creating a contract includes several tasks. Follow the link in the final step to continue to the next step required to complete contract setup.
NOTE: Your organization may have contract approval requirements for internal users who create and advance contracts. For more information, see Contract approval flow overview. Additionally, depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
TIP: Contracts can also be created from the Global Search and Spaces page. For more information, see Using global search and Archiving, activating, and assigning spaces.
To create a contract
Select Customers in the top menu and then Contracts from the drop down.
Click the New Contract button. The Terms & Company screen appears.
Complete the Terms & Company fields. For field descriptions, see the Terms & Company Screen Reference at the end of this article.
In the Renewal Options section, select whether you want the contract to auto renew.
If you enable Auto Renew, complete the Renewal Options fields. The Auto Renew option disappears if the Term Type month to month is selected. For field descriptions, see the Renewal Options Screen Reference at the end of this article.
NOTE: To set defaults for these settings, see Setting property default contract options.
Click the Save & Continue button.
NOTE: After saving, Kube displays the Space Selection screen. For more information, see Adding a space to a contract.
Terms & Company Screen Reference
Company | Company the contract is for.
CAUTION: This field cannot be edited after you activate the contract. |
Property | Property the contract is for. As you work on the contract, Kube automatically shows the available spaces, services, and products from the selected property.
CAUTION: This field cannot be edited after you save the Terms & Company section. |
Contract Assignee | Member or lead who is the primary contact for the contract.
NOTE: If you make a lead the primary contact and activate the contract, Kube converts the lead to a member upon activation. Suppose the lead record matches an existing member record. In that case, a prompt appears to either add the lead's company as an additional company to the existing member (if the Additional Companies service is enabled) or reassign the contract to the existing member. For more information, see Activating a contract. |
Contract Type | A contract type is a label that describes contracts for tracking purposes.
NOTE: To review, update, or manage this list, see Adding a contract type. |
Price Escalation | Use this optional field to increase the price of the products and services on the contract by a percentage every number of months. The percentage increase can apply to either All, Rent, or Misc charges. For more information about the different escalation scenarios, see Contract Escalation Scenarios. |
Use Inflation Adjustment (CPI) | When a contract is due for a price escalation, select this option if the rate at which prices are escalated uses the standard escalation rate set above, or the Consumer Pricing Index (CPI). Kube uses the higher percentage of the two.
NOTE: This field only appears if you have set up a CPI for the country where the property is located. For more information about adding a CPI, see Adding a pricing inflation index (CPI). |
Next Escalation Date | This field defaults to the next date that a price escalation will occur on the contract, based on the number of months in the Price Escalation field and the Move-In Date field. This date can be moved into the future, but cannot be before the escalation would have normally taken place. For more information about the different escalation scenarios, see Standard Contract Escalation Scenarios.
NOTE: Changes to the price escalation number of months or the move in date reset this field. |
Contract Name | Name that shows on contracts and in Kube. Kube auto-generates the contract name after you select the company, and you can update the name as desired. |
Move-In Date | Date the contract starts. If the move-in date is any date other than the first of the month, Kube prorates the first month's charges. |
Term Type | Select whether the contract has a fixed term or is month to month. The options in the Renewal Options section change based on this selection.
TIP: If Month to Month is selected, an MTM flag is added to the Term column on the Contracts Dashboard. |
Contract Term | Number of months the contract lasts. Kube moves out contracts on the day after the contract expires early in the morning in local time when the Terminate Contracts scheduled task runs. For more information, see Scheduled Tasks.
NOTE: When Auto Renew is enabled, the contract must end on the last day of the final month, which is why you select the number of months the contract lasts and Kube calculates the end date. If Auto Renew is turned off, the Contract Term field becomes the Move-Out Date field, and you can manually select any move-out date. |
Auto Renew Options Screen Reference
Auto Renew | Select whether Kube automatically renews the contract after its term expires. You can select whether auto renew is on by default in the property settings. For more information, see Setting property default contract options. |
Bill Full Contract Cost at Start of Term | When selected, the company pays the full contract value when the contract starts and every time the contract renews, should Auto Renew be enabled.
TIP: Do not select this option if you want a company to pay for their contract each month. For example, if a company has a 12-month contract with a renewal term of three months, the company pays the full 12 months upfront and, when the renewal term begins, the company pays the full three-month renewal term upfront. |
Notice to Vacate (NTV) | Enter the number of days or months the member has before the contract's end date to notify the property of their intention to leave or modify their contract. This field is populated by the NTV workflow or the default settings. For more information, see Setting default contract options, Setting a properties notice to vacate time frame, and Adding a notice to vacate workflow.
NOTE: This field only shows if you have subscribed to the Notice to Vacate service. |
Break Dates | Activate this option if the contract has the option to be terminated by the member before its maturity or end date. This field is for internal reference only.
In the fields that appear when this option is active, either enter the number of days/months or the exact date that a contract can be terminated by the member before its maturity or end date. Additionally, select the party responsible for confirming the break date.
If a contract has multiple break dates, click the green add button to add additional break dates.
NOTE: This field only shows if you have subscribed to the Notice to Vacate and Break Date services. |
Renewal Term Type | Select whether the contract renews with its original term type or is updated to a fixed term or month to month contract. This option does not show for month to month contracts. |
Renewal Term | The length of the renewal term is once the original contract term expires. Select Number of Months and enter a numerical value into the field that appears if the renewal contract term differs from the original. This option does not show for month to month contracts. |
Renewal Expiration | Number of times the contract renews before the contract expires. If you select Never, the contract continues to auto renew until you manually terminate the contract or amend the renewal options. If you select After, select the number of times in the selector that appears.
NOTE: On a fixed term contract the Renewal Term and Renewal Expiration options work together to determine how long the new contract is for and how many times the term repeats. For example, if you have a Renewal Term that is three months, and you select Renewal Expiration after three times, the renewal contract will repeat three times, and the combined duration of the renewal terms will be nine months. |
Renewal Price | The price Kube uses for the contract renewal. Last Known Price takes the price of the contract's last month before renewal. Last Known List Price uses the current pricing of the included products and services without any previous discounts. |