Renewal
STEP 1) Complete all maintenance - [C]
We want tenant to feel that we are taking care of them.
Complete all open WOs.
Call tenant to see if they need anything.
STEP 2) PMI & Rent Assessment - [C]
LOGIC: Turnover?
If current tenant is moving out or if vacant, Actions > Cancel
Turnover in progress
Move-Out in progress
WO & PMI Deadline
Complete PMI for the oldest renewal first
Complete PMI for all WOs on report before the 4 month date
PMI Video
Paste the PMI URL into the notes of the PMI WO.
Paste the PMI URL into the notes of the Renewal WO.
Complete PMI WO
Actions > Completed > No Bill Needed
Do not complete the Renewal WO
Increase rent?
Should we increase rent?
Does tenant want to stay?
If we increase rent will they move?
Can we get more rent if they vacate?
Total cost to remodel if tenant vacates?
Update Vendor Instructions
https://yourrentalhome.appfolio.com/buffered_reports/2419
Open vendor instructions in WO:
[old rent] - [new rent]
Example: 1595 - 1695
Update WO Status
Status (Part 1)
Actions > Waiting
Notes = [old rent] - [new rent]
Example: 1595 - 1695
Status (Part 2):
If you choose not to increase rent because a turnover will result in a major remodel, add the following to the Status:
- (Major Remodel)
STEP 3) Approve - [A]
Review report & update status
If rent change is needed, update the Vendor Instructions
If not, Actions > Waiting
THEIRS
Approved, Notify Owner
Approved, Notify Owner (Major Remodel)
OURS
Approved, Send Lease Renewal
STEP 4) Notifications - [P]*
Report
https://yourrentalhome.appfolio.com/buffered_reports/2419
Trigger
Status of "Approved > Notify"
Tenant Notification
Animals vs. Recurring Charges
Compare the data in the Animals section against the Recurring Charges.
If duplicates are listed in the Animals Section, delete the duplicate.
If one is in Recurring Charges but not in the Animal Section, add the Pet to the Animals Section.
If one is in Animal Section but not Recurring Charges:
If intentionally removed you will find one of the following & in this case, skip this section:
Pet Removed Request Form attached to the tenant page.
Historical Pet Rent charges on the Tenant Ledger that are no longer being charged.
If not intentionally removed, text COPY1
COPY1
DATA CLEANUP (Pets/Animals): Our lease now lists each approved pet/animal, so we need to confirm the info in your account is correct. The info originally came from your rental application but that was a long time ago. Do you still have the following animal?
XXXXXXXXXXXXXX
- If so, please submit a Pet/Animal Change (Add) request form.
- If not, please submit a Pet/Animal Change (Delete) request form.
www.YourRentalHome.com/tenant-request
Reminder: Keeping an Unauthorized Animal is a Lease Violation. Please take this opportunity to update your account without penalty: www.YourRentalHome.com/tenants
Owner Notification
If Ours, skip this step
If Theirs, text COPY1 to each owner
COPY1
LEASE RENEWAL: The renewal offer for the below listed property is scheduled to be delivered to the tenant 7 days from the date of this text. You can update the rent for the renewal term, or non-renew the lease, within 7 days of this text, by submitting a Request Form in Step 2 of the Lease Renewal System. If we don't hear from you within 7 days, the renewal will be delivered to the tenant, so the system flows without action on your part.
- UNIT: XXXXXXXXXXXX
- LEASE RENEWAL: XX/XX/XX
- CURRENT RENT: $XXXX
- RENEWAL RENT: $XXXX
- PROCEDURES: www.YourRentalHome.com/owners
- DIRECT LINK: www.yourrentalhome.com/owner-request/rent-change-at-renewal
Update WO Status
Actions > Mark Waiting
Notified - MM/DD/YY
Repeat
Repeat for each WO with same Status
STEP 5) Send Renewal Offer
Triggers
Once renewal is 90 out (+/- 7 days)...
Ours
Status = Approved > Send Renewal Offer
Continue workflow without pausing
Theirs
Status = Owner Notified > XX/XX/XXXX
Pause
Do not text owner twice
7 days after the date in the WO Status, continue
Prepare Renewal Offer
https://yourrentalhome.appfolio.com/lease_renewals
Appfolio > Leasing > Renewals
Locate unit on widget (Search if needed)
Click Prepare Renewal Offer
PAGE SECTIONS:
-----------------
Renewal Package
Uncheck "Include Letter Renewal Notice Letter"
If the property is in the "Ours" portfolio or on a Platinum Plan, uncheck "Include Month to Month"
Deadline to Respond = 2 months from Lease Start Date but never less than 2 weeks from today.
Add Renewal Option
Update Lease End Date - Confirm the lease does not expire on a Fri, Sat or Sun or a holiday.
If yes, change to the following Monday.
If no, skip.
Holidays Observed
New year’s Eve & Day
Christmas Eve & Day
Thanksgiving & day after
Martin Luther King Day
Memorial Day
Independence Day
Labor Day
Veterans Day
Rent Increase (IMPORTANT)
If a rent increase was noted in the Vendor Instructions of the Renewal WO, update the change by $ on one/both as applicable:
Add Renewal Option
Add Month to Month Option
Monthly Charges:
Billing Fee
If there is a $5 Billing Fee for each Pet Rent charge, skip.
If not, add it.
Desc = Billing fee on pet rent
GL = Billing Fee (T)
Amount = $5
No Insurance Fee
Disregard No Insurance Fee charges on this section because it's administered in another system.
Review new monthly charges
Confirm charges are correct
If all good, click Review renewal offer
If not, update
Security Deposit Variables
Deposit Amount Mismatch
Confirm Security Deposit on lease = security deposit on tenant ledger
If match, skip.
If not a match:
Subtract the deposit amount on the tenant ledger from the deposit amount on the lease
Tenant > Tasks > Add Charge
GL = Security Deposit
Amount = Deposit on old lease - Deposit on tenant ledger
Save
Continue to next step.
Appfolio Error Pop-up
If you receive a pop-up that there is not security deposit on file, open the report and process the following:
SYSTEM: Bond
https://yourrentalhome.appfolio.com/buffered_reports/2461
Tenant > Tasks > Add Charge
GL = Security Deposit
Amount = The Bond limit
Save
Review Renewal Offer:
Confirm the dates are correct:
If yes, continue.
If not correct & review again.
Confirm all charges in 1.4 Rent are correct. Make sure that only the charges created are showing.
If yes, continue.
If not correct & review again.
Send Lease to Tenant
Reverse Additional Deposit
If you added a deposit before you sent the lease, go back to Tenant > Tenant Ledger
Click the charge you added
Tasks > Reverse
Refresh Tenant Ledger to confirm the charge was removed
Recurring charges
Back to Tenant page & add all the following Recurring Charges:
Lease Renewal Fee (T)
Amount = $99
GL = Lease Renewal Fee (T)
Start Date = Renewal date
End Date = One day later
Desc = blank
Create & Add Another
Unsigned lease renewal fee
Amount = $100
GL = Unsigned Lease Renewal Fee
Start = 2 months before Renewal Date
End = blank
Create & Add Another
MTM Lease Fee
Amount = $100
GL = Month-to-Month Lease Fee
Desc = blank
Start = Renewal Date
End = blank
Create & Add Another
Prorated Rent (Only if rent increased)
Amount
Subtract the old rent from new rent
Divide by the number of days in the month
Multiply by the number of remaining days starting on the renewal date.
GL = Rent
Desc = Prorated difference at renewal
Start = 1st day the renewal month
End = The following day
Create
Text Tenant
Text COPY1 to Tenant
COPY1
LEASE RENEWAL:
Your Lease Renewal was published in AppFoilo. Please login to sign. If you have questions, please read the procedures on: www.YourRentalHome.com/tenants
Update WO Status
WO > Actions > Waiting
Out for signing
STEP 6) Send Renewal Offer
Upon receipt of the email from appfolio to countersign...
Verify Rent Amount on Renewal WO
https://yourrentalhome.appfolio.com/buffered_reports/2419
Countersign
Click button in email
Scroll to bottom
Click to countersign
Scroll to bottom
Checkbox & countersign as "M. Peterson"
Click "Review Monthly Charges" in pop-up
Recurring Charges
Appfolio > Tenant > Recurring Charges
AUDIT: Lease Renewal Fee (T)
Confirm the fee was previously added, if not add it but do not add a duplicate.
Start Date = 1st of the month when the lease renews
End Date = 1 day later
- - - - - - - - - - - - - - - -
ADD: Prorated Rent (Only if rent increased):
GL = Rent
Start Date = 1st of the month during the renewal month
End Date = 1 day later
Desc = "Prorated difference at renewal"
- - - - - - - - - - - - - - - -
LOGIC: Only if rent increased...
UPDATE: New Rent Start Date
Change Start Date of new rent to be the 1st of the month following the lease renewal month. This is because the previous rent will charge during the renewal month. Plus, the prorated rent you billed above & the math is correct.
- - - - - - - - - - - - - - - -
DELETE: Unsigned Lease Renewal Fee
Delete the recurring charge but do not reverse the actual charge if it billed as programmed.
- - - - - - - - - - - - - - - -
LOGIC: If annual lease:
DELETE Month-to-month Lease Fee
Only if the Tenant signed an annual lease, delete the recurring charge but do not reverse the actual charge if it billed as programmed.
Text Tenant
If Rent increase...
LEASE RENEWAL: Your renewal was processed. If you have questions about prorated rent that will be billed to your account the month of the renewal or anything else, please read the Renewal Procedures: www.YourRentalHome.com/tenants
If not...
LEASE RENEWAL: Your renewal was processed. If you have any questions, please read the Renewal Procedures: www.YourRentalHome.com/tenants
Complete
SYSTEM: Renewal
https://yourrentalhome.appfolio.com/buffered_reports/2419
Actions > Completed No Bill Needed
Countersigned