Before the lease terms expire, you may see a lease labeled "Ending Soon" in red under the Leases tab associated with a lease, 120 days in advance. This is a tool to help you prepare your tenant for renewal or move-out. It is best to do this sooner rather than later so there are no bumps in the renewal process.
The first step is to message your tenant(s) to confirm if they'll be renewing their lease, plan on moving out, or perhaps you've decided not to renew their lease!
Depending on the decision, you can follow the steps listed below to keep them rolling smoothly!
Step 1 - You will need to identify which lease is ending. In the Leases tab on your dashboard, you can look for the "Ending Soon" tag:
Step 2 - You will need to select the "Show Renewal Checklist" from the "What are you thinking about doing" section. Here you'll have several different steps to complete (this article goes into each one):
Step 3 - To avoid the lease profile automatically archiving, you will need to edit the terms of the lease profile. You can select new terms by clicking on the "Edit" button located on the right-hand side of the page. Upon clicking the edit button, you'll open the lease settings where you'll be able to click "Edit Terms" and enter the new dates or choose to go month-to-month:
TurboTip: Saving your changes here ensures a smoother renewal process for you!
Step 4 - Get your Addendum Ready! The addendum will allow you to create a new end date, increase or decrease the rent amount, or *add other provisions that supersede what is in the lease agreement. Click here to learn more about creating an addendum!
*Addendums cannot be used to add or remove tenants from the lease agreement. You will need to create a new lease profile with a new lease agreement to add or remove tenants from the lease.
Step 5 - Ensure your charges continue with no hiccups. You can do this using the Payments tab in the lease profile (to the right of the summary). If you see the rent amount in "Upcoming Charges" check the end date to ensure that it matches what is in the lease profile and the addendum. If you do not see any charges, you can select "Create Charge" to get that new charge sent out on time.
Voila! You're done! Your tenant will be able to see the new charge, continue with their rent payments and you can close out your checklist!
If your tenant is vacating the property, please follow the steps outlined below.
Step 1 - Identify which lease profile is ending by looking for the "Ending Soon" tag in your leases tab in your dashboard:
Step 2 - Select the "Let my lease end & move out my tenants" prompt in the "What are you thinking about doing" box, this will open the Move-Out Checklist:
Step 3 - Set up or collect your last payment. This can be set up using the payments tab in the lease profile. If you are giving them a pro-rated rent amount you can use our handy calculator to calculate how much they owe! You can edit the existing charge to reflect that pro-rated amount (as long as it is not paid) or create a one-time charge for that amount:
Step 4 - You will want to delete any charges that you do not need them to pay so they do not receive notices for rent payments while they are not a tenant. You can select the charge and then select the edit button to remove:
TurboTip: Do this for recurring charges as well! Learn how to delete charges here!
Step 5 - Expire the lease terms. This can be done using the edit button on the top right-hand side of the lease profile. You will want to ensure that the lease profile deactivates on the correct date so the tenant can make any payments to you before they move out.
After completing the task, you may utilize any Move-Out form from the Forms Pack to inspect the property, issue a cleaning notice, provide a general cleaning checklist, or simply use the Move-Out checklist. You can access the forms pack on your dashboard's Forms tab, which is included in the Premium Plan. Learn more about the Premium Plan here!
Once the new dates have been scheduled, the charges have been cleared, and all necessary notifications have been sent to the tenant, the lease profile will be automatically archived on the date of your choosing. Should you need to review this lease profile at any point, simply refer to the "Past" section within your leases tab.
*If you need to refund the security deposit, you will have to do this outside of our platform. We do not have a way to refund through TurboTenant at this time.