Renew a Lease
When a lease has expired, or is nearing expiration, you have a decision to make whether to keep the existing tenants in the property and renew their lease, or close the lease and rent the property to new tenants, or not at all. In the case where you want to re-lease the same property to the same tenants, you can choose the Renew Lease option to do that quickly.
Note: if you want to make changes to the tenants (either add additional ones or remove some existing ones), you should in most cases close the existing lease rather than renew it, and create a new lease afterward. This is also true if you want to make adjustments to the settings or dates of any of the charges & fees on the lease before you renew it.
Click the “Renew Lease” button on the Lease Settings page:
The “Renew Lease” popup screen appears:
This screen shows you the current start date of the existing lease and assumes the renewed lease will start “today”. Adjust the “New Lease Start Date” and “New Lease End Date” accordingly. Ideally you won’t have overlap between the start-end dates of the old lease and that of the new lease, but whatever dates you choose are acceptable.
All of the existing charges & fees on the existing lease are shown. You can make start/end date changes for the new lease’s corresponding charge, as well as the amount that will be due. This is a good place to adjust the rent up if such an increase has taken place with the renewed lease. Note that you cannot make changes to the recurrence (monthly, yearly, weekly, etc) setting of any charges, nor can you add new charges or remove them here.
Special note: In the case (as shown in the screenshot above) where the existing is already month-to-month (has no end date), you might not really need to renew the lease, as SimpleRent already treats it an ongoing concern, and will keep it open and active. If you want to make changes to specific charges or convert the new lease from month-to-month to a fixed end date, proceed normally with the renewal. Either course of action is fine; this warning is mostly just informational as a heads up that the current lease is already self-renewing for those most part.
Click the “Renew Lease” button and the existing lease is closed automatically, and a new lease is created with the same tenants, new start/end dates, and the same charges and fees (with updated dates/amounts) as required. SimpleRent will then redirect to the new lease settings page where you can make additional adjustments if necessary.