Lease Renewal Process Flow Chart – Westward360

Lease Renewal Process.jpeg

1. Set pricing (150 days out).
Does the property have a Pro-Forma pricing?
1. If Yes:
  1. Enter pro-forma pricing.
  2. Pricing updated in renewal tracker.
  3. Send lease renewal (120 days out).
2. If No:
  1. Get pricing from Director.
  2. Pricing updated in renewal tracker.
  3. Send lease renewal (120 days out).
Did tenant(s) signs lease renewal?
1. If Yes:
  1. Lease is countersigned
  2. Propertyware updated
  3. Lease renewal fee is charged
  4. Lease is published to tenant and owner portal.
2. If No:
  1. Follow-up procedure made to tenant.
  2. Tenant advised they are not renewing.
  3. Follow-up call to convince tenant to renew.
    1. Tenant agrees to sign OR:
    2. Tenant agrees to sign but at lower rate.
      1. Director approval
    3. Tenant agrees to sign but on a short-term lease.
      1. If lease ends between 03/31 - 07/31, resend lease renewal.
    4. Tenant still declines to renew:
      1. Create CMA / Turnover ticket (NONR Procedure).

Lease Renewal Process Flow Chart Follow