How to Create a Lease Renewal

Have you set up a renewal agreement with your tenant and now just need to record the process in Rentvine? This article will walk you through the renewal process for any lease within Rentvine

1.  The first step is to click on the Lease tab on the left side of your screen. This will bring up all of the leases you have in Rentvine. Select the specific lease you would like to add a renewal to.

2. In here you will scroll down until you see a box labeled "Renewals". In the top right of this box you will click the "Add Renewal" button.



3.  This will pull up a side bar where you can fill out the new information for the renewal. Make sure to click save to add that renewal.

1. 1. 1. Renewal Date- This is the date that you post the renewal.
      2. Description- This is however you want to describe the renewal (i.e. Renewal for 123 Main Street)
      3. New Start Date & End Date- This will be the date that the renewal starts and ends
      4. Previous Start Date & End Date- This will automatically populate if you already have the information filled out on the active lease
      5. Charge Renewal Fee- This will charge the owner the renewal fee that you have set up in the management fee setting for the property (this can be edited to whatever you want). The date posted selected refers to the date posted attached to the bill to the owner. There will be the date the bill was posted to their portfolio and also set the due date of the bill.

 

The last step is to record new rent increases for this lease so new charges will be posted based on the new amounts of the renewal. For more information on the rent increase process, you can click here.