LEASE RENEWAL WORKFLOW

A seamless Lease renewal process includes:
  1. The initial original lease was done in ZipForms/DocuSign and sent out immediately (24 hours) upon application approval.
  2. Leases end on the last day of a month. Months Mar-Jul only, mostly Apr-Jun.
  3. Owner pre-notified of automatic renewal unless they instruct otherwise. The Notice goes on monthly Statement cover letter begining Jan each year. It's a "no response" Notice, meaning no response needed else the renewal happens.
  4. Renewal Notice sent 40-50 days prior to lease end date via Zipforms/Docusign. Tenant/property info is already in Zipforms from the original lease. So it's just the TAR lease extension form with cover email and Renewal FAQs.
  5. Signed renewals immediately trigger update process checklist for the tenant in AF, bill the renewal fee, change end date and rent amount, post a note to the Owner of the renewal. (I typically posted the note in Promas as it allowed for a Owner note that appeared on only that Owner's statement. I don't think AF has that functionality, so a template email with renewal data specific to that owner would be the next best way)
  6. As end of month approaches (around the 25th), remaining unsigned renewals should appear on the AF dashboard (in my case, it was a clipboard hanging on the wall in front of my desk with the printed Lease Expiration Report for that month, which had completed renewals lined through).

Call and email unsigned renewals to remind them that the lease will in fact expire if not renewed and that the renewal will be resent from DocuSign. DocuSign has a "resend" functionality that puts it back at the top of their inbox.

  1. Repeat number 6 on the 1st AND Notify tenants that the lease has not been renewed and they must vacate at the end of the month. Start the turnover process, including property visit and marking the tenant for move-out at the end of the month. Proceed per policy unless interrupted by the tenant suddenly communicating that they want to renew.
 With 100 doors, I generally had to execute #7 for 1-3 properties/tenants every renewal month, and 1 or 2 would eventually end up renewing within a few days. But we don't wait around or try to chase them down further, as the above communications are plenty sufficient to assume they are just choosing to allow the default non-renewal notice portion of the extension to control.
 
If done as described above, the dashboard should ALWAYS be accurate in real time (excepting MTM lease if you have any; I never had any). Then Adrienne could have a checklist item every month to verify as follows:
  1. Renewal communication on the owner statement cover email starting in February?
  2. Renewal notices sent by the 15th?
  3. Renewals coming? Check status on the 25th?
  4. Remaining unresolved renewals on the 1st?
 
I don't remember many instances of 100% radio silence from tenants by around the 3rd to 5th of a month, as I would already have visited the property or heard from them by then. But there is always a straggler or two. People are busy. This requires focused diligence, which I achieved because I would stare at the renewal clipboard at my desk daily, keeping it top of mind. You'll all need a way to keep it top of mind in renewal season since you don't have workstation desks in a shared space. Hopefully the AF dashboard do it
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