Non-Renewal - Considerations and Next Steps

Key Considerations

1. List of Ongoing Issues with Tenant/Property

• Include any documented tenant behaviors or property issues noted in past inspections or communications.
• Example: cars parked on lawns, excessive occupants, improper use of the property (e.g., running a business).

2. Potential Rental Rate vs. Current Rent

• Compare the current rental rate with comparable market rates for the same type of unit.
• Highlight any financial gain or loss from retaining the tenant versus re-listing.

3. Lease Expiration Date Challenges

• Note any timing conflicts that might arise from the current lease expiration date.

4. Scope of Make-Ready (Cost and Repairs)

• Estimate the cost and scope of the make-ready process:
  • Landscaping repairs (e.g., lawn restoration, backyard cleanup).
  • Interior work (e.g., deep cleaning, minor repairs).
• Include the last make-ready date if available.

5. Owner's Portfolio Impact

• Provide an update on the owner's entire portfolio to give context for financial decision-making.
• Address whether keeping the tenant or pursuing a non-renewal aligns with the owner's financial strategy (e.g., avoiding further losses).

Action Steps

1. Send detailed notes on the above points for review.
2. Collaborate with the team/owner for final determination.