---
sourceDocument: Australia Asset Management
sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/it-asset-management

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Asset Management

ft:clusterId :

    - itam

bundleId :

    - itam

workflow :

    - Technology


---

# Manage expiring lease contracts

# Manage your expiring contracts for leased hardware assets {#ariaid-title1}

* Release version: Australia
* 
* Updated March 12, 2026
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 3 minutes to read

Use the lease contract expiration flow and decide on what to do before your leased
hardware asset contract expires. Get notifications about the lease contracts that are
nearing their expiration dates.

## Before you begin

Role required: contract_manager

## About this task

When a lease contract is nearing its expiration, contract administrators and business
owners are notified 90, 60, and 30 days before the expiration date. Getting these
notifications early can help give them enough time to act and to avoid paying a
penalty. You can customize the email notifications by navigating to System NotificationiNotificationLease contract threshold breached.

You can view a consolidated list of asset contracts that are expiring on the Hardware
Asset Dashboard in the month, quarter, and year formats. For more information, see
[Hardware Asset
Dashboard](https://servicenow-prod.fluidtopics.net/qetoRQvA6ZjLjOuIrZzSsA#hardware-asset-management-dashboard "View the key metrics on your hardware and consumable models and assets for the entire asset life cycle in the Hardware Asset dashboard.").  
Note:  
When the Hardware Asset Management license is activated, the
Renew UI button doesn't appear for active lease
contracts that have assets covered.

If an asset is associated with more than one lease contract, then the
Lease contract field on the asset record reflects
the most recently associated contract.

There are readily available decision tables that you can use to customize the
Lease Contract Expiration Flow, Leased Asset Buyout Flow, Leased Asset
Extension Flow, and Leased Asset Return Flow. For more details, see [Hardware Asset Management flow customization](https://servicenow-prod.fluidtopics.net/A57OAXwmZnwWN9KQOmoQ0Q "Customize the flows in some of the Hardware Asset Management features by using the available decision tables.").  
With the lease contract expiration flow, the possible lease actions are buying out the leased asset, extending the lease agreement, or returning the asset or another like product.  
Note:  
For an asset covered, if the Date removed field is in the past, then the state of the asset is automatically set to Canceled and you can't take any lease actions.

## Procedure

1. Navigate to ContractContractsLeases.  
   The Lease page opens. It shows a list of lease contracts.
2. Open the relevant active lease contract and click the Begin Lease expiration process related link.  
   Note:  
   The Begin Lease expiration process related link is
   visible only in active contracts that have at least one asset
   covered.

   You can't choose a lease action such as Buy out, return, and extend for
   an excluded lease asset. For more information, see [Hardware Asset Management license exclusion](https://servicenow-prod.fluidtopics.net/m5oSdSWK4LXN3o8e~Glpsw "Pay only for the assets using licensed Hardware Asset Management features and exclude an asset for which you don't want to use the licensed features.").  
   The Leased Assets related list shows all the hardware assets that are covered
   in the lease contract.

   In each asset record that is covered under the lease agreement, a Planning
   task is generated. The Planning task is automatically assigned to the
   contract administrators.
3. Under the Leased Assets related list, perform any of the following to take a lease action:  
   * Open a record and then open the Planning task. In the Planning task, select a lease action from the Lease action list.
   * Open an asset. From the Asset Covered form, select a wanted lease action from the Lease action list.
   * On the list of assets, double-click the Lease action field of an asset and select a lease action.
   {#manage-your-leased-hw-asts-expiring-contract__ul_gfw_5wv_wnb}  
   A set of tasks is created. If you select a lease action by a method other than opening the Planning task, then the state of Planning task is automatically moved to Closed.  
   Note:  
   By default, the Planning tasks are created only for the first 1000 assets under the contract. If you want to create Planning tasks for more than 1000 assets, then you can change the default value (1000) of the com.sn_hamp.flow.lease_contract_expiration.max_results key in the Asset Property (asset_property.list) table. Only users with the asset role can change this property.

## Result

Based on your selected action, the corresponding workflow is triggered and the associated Contract Asset tasks are created. Close one task to go to the next task.

## What to do next

Based on what lease action you selected, perform any of the following:

* [Return your leased hardware asset](https://servicenow-prod.fluidtopics.net/BidprkhGnywT1wWBh_dmRg "Return your hardware asset before the contract expires and avoid paying a penalty.").
* [Buy out your leased hardware asset](https://servicenow-prod.fluidtopics.net/XDoruAHti4TwMRfCumhHeQ "Buy out your leased hardware asset before the contract expires and avoid paying a penalty.").
* [Extend your lease contract](https://servicenow-prod.fluidtopics.net/Q_eGunHmUON9HDZ9rIDKrA "Extend your lease contract before the contract expires and avoid paying a penalty.").
{#manage-your-leased-hw-asts-expiring-contract__ul_egk_vrz_d4b}
* **[Return your leased hardware asset](https://servicenow-prod.fluidtopics.net/BidprkhGnywT1wWBh_dmRg)**   
  Return your hardware asset before the contract expires and avoid paying a penalty.
* **[Buy out your leased hardware asset](https://servicenow-prod.fluidtopics.net/XDoruAHti4TwMRfCumhHeQ)**   
  Buy out your leased hardware asset before the contract expires and avoid paying a penalty.
* **[Extend your lease contract](https://servicenow-prod.fluidtopics.net/Q_eGunHmUON9HDZ9rIDKrA)**   
  Extend your lease contract before the contract expires and avoid paying a penalty.

**Related concepts**   

* [Work with hardware normalization](https://servicenow-prod.fluidtopics.net/iRnOJwFfsRBTqZeuB7kFlA "Asset Management Hardware Model Normalization enables users to normalize the details, such as manufacturer, product, model, and device type, of your hardware and consumable models. Data from the models is compared against the data in the Hardware Model Normalization Content Service.")
* [Manage your inventory through pallet assets](https://servicenow-prod.fluidtopics.net/Y~ramXGWLaae_jA1UelGIA "Manage your inventory effectively using pallet assets.")
* [Manage loaner assets](https://servicenow-prod.fluidtopics.net/OU48Ln_mhMevW5DV8sioXw "Request a loaner asset or consumable for a short period. You can also prepare the loaner asset or consumable for deployment and reclamation by using loaner asset tasks. Deploy the loaner asset or consumable for a specific period, and reclaim it on the return date.")
* [Donate assets to charity organizations](https://servicenow-prod.fluidtopics.net/pZeQJfnAFUwy~ciZ~uVUHQ "Use the Asset Donation flow to donate hardware and consumable assets of your organization to charity organizations.")
* [Manage RMA requests](https://servicenow-prod.fluidtopics.net/HxW4yvp7EKVie963PDcgbg "Initiate a Return Merchandise Authorization (RMA) process by submitting an RMA request to initiate an RMA process with your vendor. You can repair or replace a faulty asset.")
* [Fulfilling hardware asset requests](https://servicenow-prod.fluidtopics.net/DE2RA8juimX1N77_JvDPaA "You can fulfill hardware asset requests submitted through the Service Catalog application manually or by using the Help manage hardware asset requests agentic workflow.")
* [Audit hardware asset inventory](https://servicenow-prod.fluidtopics.net/ivfYqawui0_yS4CNweZQsA "Perform scheduled or blind audits of stockrooms and other locations, such as offices or datacenters, to confirm accurate inventory information.")
* [Reclaim hardware assets](https://servicenow-prod.fluidtopics.net/ZZ5xhRYTO9lXOVHvOU~gxQ "Reclaim hardware assets efficiently and store them in the inventory, reassign, send it for repair, or dispose of as required.")
* [Manage the lifecycle of hardware models with calculated lifecycle templates](https://servicenow-prod.fluidtopics.net/ZXU4UUcobvbUwT0HJG3iZA "Manage the complete lifecycle of hardware models by creating calculated lifecycle templates and associating these templates with the models.")
* [Receive asset warranty details from Lenovo](https://servicenow-prod.fluidtopics.net/4LMdTBEkGgsc2wRiddClWw "Connect to the Lenovo Warranty API and get the warranty details of your hardware assets.")
* [Manage stockrooms](https://servicenow-prod.fluidtopics.net/L4I1dHfNyMXAqFeBTqgB5g "Manage the assets in the stockroom by using appropriate stock rules, service locations, and distribution channels.")
* [Track shipments using the integration framework](https://servicenow-prod.fluidtopics.net/e7kyoI70TtN1qpp5JRq_cQ "Track your shipments in real time by integrating your ServiceNow instance with your third-party carrier's application through the integration framework provided by the IT Asset Management application.")
* [Assess performance of Hardware Asset Management](https://servicenow-prod.fluidtopics.net/GTs_XARQRfJLp2dt2IeHGg "Track the success of the Hardware Asset Management application in your instance by creating success goals. You can also create a success goal category for a success goal and track the success of your goals by creating success activities.")
* [Manage refresh of assets using Zero Touch Refresh](https://servicenow-prod.fluidtopics.net/e0h~4Do3By8pxb5yNbhDuw "Enable your employees to request hardware refreshes through an external vendor by using the Zero Touch Refresh flow on your ServiceNow instance. This process enables you to eliminate having to maintain a local inventory of new assets.")
* [Configure the Total Cost of Ownership of assets](https://servicenow-prod.fluidtopics.net/sOJ0UntpHbgXlq2PRQi1hg "Configure the Total Cost of Ownership (TCO) of assets by creating rate cards for each task in a Hardware Asset Management workflow.")
* [Manage Hardware Asset Management subscriptions](https://servicenow-prod.fluidtopics.net/kCWR5fqZTgUd_aIJsanlKQ "Save on Hardware Asset Management licensing cost by choosing only the Hardware Asset Management Resource Categories that you use.")
* [Manage repair of defective assets in your stockroom in the Hardware Asset Workspace](https://servicenow-prod.fluidtopics.net/fAtUd4D0S3CQQGVNjY3Egw "Optimize your inventory by getting the defective hardware assets in your stockroom repaired using the Repair flow.")
* [Manage picking hardware assets within your stockroom for Hardware Asset Management workflows](https://servicenow-prod.fluidtopics.net/1H_9bbVcW6Dp_vP4HgkuKQ "Enable the Asset pick task explicitly for your stockroom and provide granular location details of the asset to facilitate asset picking within your stockroom.")
* [Manage hardware asset tasks using the Mobile Agent application](https://servicenow-prod.fluidtopics.net/2fXht9tQ8jR4OCDI68O27g "Manage hardware asset tasks such as repair tasks and asset pick tasks using the intuitive Mobile Agent application.")
* [Manage asset put away using the Hardware Asset Workspace](https://servicenow-prod.fluidtopics.net/SHT4JF5U7Syy4Jh6vX2rYQ "Enable the Asset put away task explicitly for your stockroom to put away the assets from the receiving bay in the designated aisle-space. View the open Asset put away task and close it after specifying the aisle-space value to move the asset in the stockroom.")
* [Audit your hardware assets by using Asset Attestation](https://servicenow-prod.fluidtopics.net/UwILV3hKHDLynDWJ2G_D8Q "Improve the asset utilization by auditing the hardware assets assigned to your employees and validating if the employees are using the assigned assets.")  
**Related tasks**   

* [Analyze hardware assets using the Generate hardware asset insights generative AI skill](https://servicenow-prod.fluidtopics.net/E1wfvkI7OHnbZZlrw0fd7Q "View consolidated asset data and identify key action items with the comprehensive AI-generated analysis summary.")
* [Manage asset bundles from your inventory](https://servicenow-prod.fluidtopics.net/mOhJwAJ4Z0tjMWBi86Zjtw "Create asset bundles from existing assets in your inventory to track, reserve, or deploy a group of assets as a single entity.")
* [Use Advanced Shipment Notification](https://servicenow-prod.fluidtopics.net/JQPrMughUSfqfQk6BscFYA "Use Advanced Shipment Notification (ASN) to automate and create asset records when your assets are in transit.")
* [Create an inventory stock order request](https://servicenow-prod.fluidtopics.net/r435uwwNb9ft8Xkpxsa1cA "Create an inventory stock order request so that you can order new hardware in bulk for your stockrooms. After your request is approved, the Hardware Stock Order flow takes you through the process of requesting, sourcing, and receiving your order.")
* [Create a disposal order](https://servicenow-prod.fluidtopics.net/USsdwDZbMq8Kaid6ZWW9hQ "Create a disposal order for hardware or consumable assets. You can create a disposal order for an asset reaching its end of life cycle or an asset that is no longer functional.")
* [Request a Hardware Asset Refresh](https://servicenow-prod.fluidtopics.net/YF4shnWRIvWN1WDR7X1TRA#hardware-asset-refresh "Use the Hardware Refresh request flow to track the aged hardware assets that are nearing the end of their life cycle. Replace them with new hardware assets.")
* [View RFID information of assets](https://servicenow-prod.fluidtopics.net/47ltji9ZccyvyxrM3nWbAw "View the Radio Frequency Identification (RFID) information of assets to manage and locate important assets easily.")
* [Create an internal lifecycle in the Hardware Asset Workspace](https://servicenow-prod.fluidtopics.net/JbbTksNXKKUTL~vtQaHW9Q "Create a custom (internal) lifecycle to explicitly specify lifecycle dates for a selected hardware or consumable model in the Hardware Asset Workspace.")
* [Track asset location using indoor maps](https://servicenow-prod.fluidtopics.net/zSIjt_~_uOrkpfZ5_kux0A "Locate and track the consumables and hardware, bundle, and pallet assets in your organization by using indoor maps. Indoor maps provide an interactive interface that enables you to visualize the location of your assets within your campuses, buildings, floors, and places.")
* [Acknowledge receipt of assets on the Employee Center portal](https://servicenow-prod.fluidtopics.net/MSUW78DLoL2UZeNjnBur3A "After receiving hardware or consumable assets that were in transit and reserved for you, confirm their receipt on the Employee Center portal.")
* [Update associated Decision tables for HAM flows](https://servicenow-prod.fluidtopics.net/ztktGKNrpL94ZS_4ymybgA "Update associated Decision tables for Hardware Asset Management (HAM) flows to trigger a new or customized HAM flow.")

*[\>]: and then