What information does a "lease schedule" provide?

A lease schedule provides a detailed list of payment amounts and due dates, which is essential for both lessors and lessees to understand their financial obligations throughout the lease term. This information helps lessees plan their budgets effectively and ensures that they are aware of when payments are due, preventing any missed payments that could lead to penalties or default.

The lease schedule typically outlines the payment structure, including the frequency of payments (monthly, quarterly, etc.), specific amounts due, and the timeframe for each payment. Having this information readily available is crucial for maintaining proper financial management over the lease duration.

In contrast, while a summary of the total lease cost captures overall expenses, it does not provide the specific granular details that the lease schedule does. Maintenance responsibilities are usually defined in a separate section of the lease agreement rather than in the lease schedule. Lastly, a record of previous lease agreements would be more about historical data rather than the current financial obligations associated with the ongoing lease.