Overview

One common situation you encounter in property management is renewing or extending your tenants' leases. 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 or extend the lease depending on your preference.

Let's go through this now!

The Steps

You can always directly edit the terms of an active lease to extend the end date.

However, you may want to track the status of lease renewals at each stage of the process. The steps below will cover how to do this.

Step 1

On the side menu, go to Leasing < Lease Renewals.

Step 2

Here you see a list of your upcoming ending leases. By default, DoorLoop shows 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.

Step 3

Find the lease you want to renew and click the Renew Lease button. You can either sort the list by the various columns and filters or use the Search leases search bar.

You can also use the Renew Lease button from the Overview page of any lease.

Step 4

On the Overview of the Renew Lease page you'll walk through setting the terms of the renewed lease, first choosing whether the new lease terms will be 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 rollover to "Month to Month" at the end of the term, check the box for this option as well.

Click Next when you are done.

Step 5

On the Charges And Credit page, you will set the new rent schedule and add additional credits and charges as follows:

Rent Charges

  • Toggle this on to set up the new recurring rent schedule. If it doesn't change from the existing rent schedule, you don't have to toggle this on.

Prorations

  • Toggle this on to add additional one-time charges to the Transactions tab of the lease. These are for things like prorated rent.

Credits

  • Toggle on this section to add one-time or recurring concessions and credits to this lease. This is for things like monthly rent discounts or a free month of rent signing incentive.

Security Deposit

  • You can add a charge for an additional lease deposit if you increase the amount of deposit your tenant must give you.

    • Use the Add one-time charge link and enter the relevant information and add additional deposit charges if needed.

  • When you finish creating the lease renewal, these charges get added to the Transactions tab of the lease.

    • When your tenant pays for these charges, the payment creates a deposit on the lease Deposits tab.

Click Next when you're done.

Step 6

If this lease renewal is currently active, click the Active button and upload a copy of your signed lease for secure storage if you’d like.

If this lease renewal is not yet active, click the Draft button and choose the current draft status of the lease renewal:

  • Not Sent: For example, you haven’t contacted the tenant to sign the lease renewal.

  • Counter-Signed: All parties have signed the lease renewal, but you don’t want to move it into an active status quite yet.

  • Partially Signed: Not everyone has signed the lease renewal.

  • Sent: You’ve sent the lease renewal to the tenant, but they haven’t signed yet.

If you choose a draft status, DoorLoop saves this draft lease renewal which you can edit or activate later.

When you are done, click Finish to complete your lease renewal.

What if I'm not renewing the lease?

If you aren't renewing the lease, you can click Not Renewing on Step 3, which allows you to put in a Non-Renewal Notice and add any additional notes and files, but this is optional and for informational purposes only. You can't undo this process, but you can still create a new lease or edit the terms on the existing lease if the tenant ends up renewing.

The notice date and notes don't do anything right now and are meant for future functionality. The files you add get attached to the Files tab of the existing lease.

When a lease ends, it's best to use the End Lease process described in this article.

Next Steps

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