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. 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)

Please note that if you turn the toggle on for "charge renewal fee" this will charge the owner. If you would like to charge the tenant for the renewal fee make sure this toggle is off and go to the transactions tab. In here you will click the green actions button and click add charge. Fill out the information and amount on the charge and this will post for the tenant to pay.

 

4.  The next step is to scroll up to the box labeled "Recurring Charges". In here you will click on the "Add Recurring Charge" in the top right. 

5.  This will pull out a sidebar and you will add the same recurring charges that you had previously but you will make the start date and end date of the recurring charge the same as the dates of the renewal. You can add new amounts of the recurring charges if you would like. You do this for all of your recurring charges that you want to keep posting on the new renewal.