Preparing lease renewals and sending a Docusign
Lease renewals are offered monthly based on the lease expiration dates. The renewal rates are suggested by Adrienne Laosa with the owner's approval. All data related to lease renewals is available in the vacancy spreadsheet under 'Renewal Comps 2024.' This finalized data serves as the basis for offering renewals to tenants and sending notices for signatures.
Below is the screenshot of the 2024 renewal comps.
2024 Renewal Comps
Preparing the Lease Renewals
The lease renewals are prepared in the ZipForms.
- Go to the zipForms and open the desired property by searching for it in the search bar.
- Select and open 'Extension of Residential Lease' to start editing the document.
- Add the property address, owner name, and tenant name.
- Add the effective date, which is the next date to the lease expiration date.
- In Section A.1, add the lease expiration date, which is a total of 12 months.
- In Section A.2, add the newly offered renewal rate and checkmark the 'change to box.' The renewal rate is the suggested rate in the spreadsheet.
- In section B, add the obligation date, and in section B.2, add the termination date. The obligation and the termination date will be provided by PM.
- Add the tenant names for signatures
- Send the notice to the tenants for signatures
- Once the document is fully signed, Anna or her team will update the new renewal rate along with the effective and expiration dates in AppFolio.