This article covers Requesting Lease Renewal advise from the Owner,  Advising Tenant of Lease Renewal, adding lease renewal dates and creating your document through REI Forms/Realworks.

Step by step

1.  It is advised that you have your current Tenancies Expiring (next 70 days - me (for your own portfolio) or Tenancies Expiring (next 70 days - office (for total office) saved on your Dashboard.  This can be done at the top of your Dashboard by clicking on Configure.

You can now see on your Dashboard a snapshot of your Tenancies Expiring 

2. You can edit/update lease dates via Tenancy Management > Tenancy > Rent Increase/Decrease/Lease Renewal

And click on Add Lease Review/Renewal

3. Select the Type as Lease Renewal and add the information. If there is no rent change, untick the box. 

Save

4. If you have added a Rent Increase/Decrease you may get a popup asking to confirm the rent cycle. If the date of the change doesn't fall on a rent anniversary date (date when the tenant is normally due to pay rent), then you can choose to either Use Custom Date or Use Anniversary Date

As soon as you add a Lease Renewal and Save, Vault will show as Pending in the current Tenancy screen until the date passes where the final status will be Processed

5. Once you add this Lease Renewal Date and Save, within the Lease Renewal Report the Status will show as New Lease - Signed so you will know that you have actioned a new lease renewal date.

New Lease - Not Set shows any managements that have lease expiries due and no action has been completed.

The Lease Renewal Report is located in Property Management > Reports > Lease Renewal Report

6. Vault can send an email or txt to both owner and tenant advising them of the lease expiry.

- Firstly create the template you wish to send via Settings > eMarketing > Setup Email Responses/Setup SMS/TXT Responses

For information, check out the article: Creating Email & SMS Templates

Then setup when you want that communication to be sent using the triggers via Settings > Setup Automation > Setup Triggers

You also have the option to create a letter template to be emailed

For information on that, check out the article: Creating Cloud Letter Templates

7. If you have integrated with REI Forms or Realworks you can create your new lease agreement through Vault via Property > Other > REI Forms Live or Realworks

Once the form has been completed and finalised, it is save int he Filing Cabinet ready to be sent.

For information, check out the article: Creating REI Forms / Realworks Forms