How do I process a renewal for an existing tenant?

This guide explains how to extend the lease term for a tenant whose contract is nearing its end, including how to adjust the rent and add new charges for the new term.

Eligibility for Renewal

Before you begin, please note that only tenancies with the following status can be renewed:

• Main Status: Ongoing
• Tenant Status: Moved-In

Renewal Process Navigation

Go to Tenant Tenancies, select the tenancy you wish to renew from the list, and click the Renew action.

You will be guided through the following steps:

• Extend the Lease Term:
  • Define the new end dates for the renewed lease period.
• Set Rental Cycle and Due Dates:
  • Confirm or update the payment frequency (e.g., monthly) and the specific date on which the bill is due.
• Adjust Charges:
  • Rent Adjustment: Modify the rental amount for the new term.
  • Deposit Adjustment: Change the deposit amount if required.
  • Add New Charges: Include any new, recurring, or one-off charges for the upcoming lease period.

After completing these steps and confirming, the renewal will be processed.

How Tenancy Statuses are Updated After Renewal

Successfully renewing a tenancy creates a new, separate tenancy record for the extended period and updates the statuses of both the original and the new tenancy.

A new renewal tenancy is created.

• The original tenancy's Detailed Status will be updated to Renewed.
• The original tenancy will remain Ongoing until the renewal tenancy's start date.
• The renewal tenancy will have a Pending Start status.
• Once the renewal tenancy's start date is reached:
  • The renewal tenancy will automatically become Ongoing.
  • The original tenancy will automatically become Ended.

Important Note: Before its official start date, the renewal tenancy cannot be processed for a move-out (Notify Check Out) or be voided.