Leasing
Extend Lease - Property Manager
6min
When a tenant wants to continue renting a property beyond their current lease period, property managers need to make sure that all lease terms, including rental charges, lease end dates, and other agreements between the tenant and the property owner, are properly updated.
The Extend Lease feature allows property managers to make these updates while maintaining proper records of the lease extension. This guide provides a step-by-step process for extending a lease.
- Log in to the Rentilium platform.
- On the Dashboard, locate the Leasing section in the left navigation menu.
- Click on Lease Details to view the list of current leases.
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- The leasing dashboard displays all Leased Rental Units.
- Identify the tenant whose lease needs to be extended.
- Verify details such as the Current Rent, Lease Start Date, Lease End Date, and Remaining Days.
- Click the Extend Lease button next to the tenantโs rental unit.
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- A form will appear displaying the existing lease details.
- Update the Lease End Date to reflect the new extension period.
- If necessary, update other fields such as:
- Rental Charge (if the rent is increasing or decreasing)
- Discount Amount (if any offers or concessions are applicable)
- Security Deposit Amount (if additional security is required for the extension period)
- Late Fine (Per Day) (if late payment terms are updated)
- Attach any necessary lease documents by uploading a new agreement if required.
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- Review all changes made to the lease extension.
- Ensure that all details, including the rental amount, security deposit, and lease duration, are accurate.
- Click Submit to finalize the lease extension.
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- The updated lease will now reflect in the Leased Rental Units section.
- The Remaining Days field will update to reflect the new lease period.
- The property manager and tenant will receive a notification confirming the lease extension.
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