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Renew a Lease
Renew a Lease

How to create a lease renewal to extend a tenant's lease if they renew for another rental period.

Samuel avatar
Written by Samuel
Updated yesterday

Overview

When a lease expires, you have the option to either end the lease or renew the lease. Renewing a lease is very common if the tenant wants to extend their current lease on the unit. DoorLoop helps you with this process by giving you easy ways to track which of your leases are ending soon. Then you have several ways to renew the lease depending on your preference.

The Steps

Tip: If all you want to do is extend the end date of the current lease, you can always directly edit the terms of an active lease to extend the date.

Step 1 - Begin the Lease Renewal Wizard

If you want to track the status of lease renewals at each stage of the process, you will want to go through the Lease Renewal wizard.

  1. To begin the lease renewal process, click Leasing on the main menu and then click Upcoming Renewals. This will bring up a list of all leases ending within the next 120 days. (You can change this Period or change the date range using the Term Ends filters to update the list of lease renewals.)

  2. Find the lease you want to renew and click the Renew Lease button.

Note: Leases that are set month-to-month or have rollover to month-to-month will not show up for lease renewal. This is because month-to-month leases are assumed to not end, so no need to renew them as they extend on their own. If you want to renew a month-to-month lease, you'll need to change the lease terms to fixed term and turn off rollover to month-to-month.

Step 2 - Overview (Update the Lease Terms)

On the Overview of the Renew Lease page, you’ll see a summary of the current lease you have chosen to renew. You’ll see what the Current Monthly Rent is and the Deposits Held. Below that, you’ll see the option to either renew the lease as Fixed Term or Month-to-Month.

  • If you choose Fixed Term, you will need to enter a new End date for the lease.

  • If this lease will roll over to "Month to Month" at the end of the term, check the box for this option as well.

Click Next to move on.

Step 3 - Update the Rent Charges

On the Rent page is where you’ll set your new Rent Charges. You will have two options here to proceed:

  • If there will be no increase to the rent amount, simply select No as your option.

  • If there will be an increase in rent, click Yes.

    • Enter the relevant information for the rent increase.

    • (Optional) Click Show Advanced Options to add additional charges as separate line items to the recurring rent schedule, such as pet rent or parking.

    • (Optional) You can schedule any additional Rent Increases by clicking on Schedule Rent Increase.

Click Next to continue to the next step.

Step 4 - Update Deposits

The Deposit tab asks whether or not you will be charging additional security deposits. You have two options here to proceed:

  • If there will be no additional deposit charges, simply select No.

  • If there will be additional charges, select Yes.

    • Enter the relevant information needed for additional security deposit charges.

    • (Optional) Click Add Another Charge below New Deposits if you want to add any new additional charges.

Click Next to continue to the next step.

Step 5 - Review the Renewal Status

In this tab, you’ll need to define the status of your lease. You will also have two choices here to proceed:

  • If you have all the necessary renewal documents already signed or you don't need updated documents, click the Signed button and if needed, upload a copy of your signed lease for secure storage if you’d like.

  • If the necessary renewal documents are not signed yet, click Not Signed. This brings up e-Signature options. You will have the choice to Save as Draft or Send eSignature.

Clicking Finish will end the Renew the Lease process.

Next Steps

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