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Lease Renewal Checklist
Review Lease Agreement
Locate the original lease agreement and any addendums
Check for the lease expiration date and notice period for renewal
Review the terms and conditions to ensure compliance with the renewal process
Tenant Communication
Send a reminder notice to the tenant regarding the upcoming lease expiration
Discuss any potential changes or negotiations for the new lease term with the tenant
Provide the tenant with a formal lease renewal offer in writing
Property Inspection & Maintenance
Conduct a thorough inspection of the property to assess its condition
Perform or schedule any necessary repairs or maintenance before the new lease begins
Update any fixtures or amenities if agreed upon in the lease renewal negotiations
Financial Review
Analyze the current rental market to determine if a rent adjustment is warranted
Recalculate the operating expenses if the lease terms include pass-through expenses to the tenant
Prepare a new lease budget and financial projections for the upcoming term
Lease Documentation
Prepare the lease renewal agreement including any changes to the terms
Ensure both parties sign and date the renewal agreement
Update the tenant's file with the new lease agreement and any correspondence regarding the renewal
Regulatory Compliance
Verify that the lease renewal complies with local, state, and federal laws
Check that all required disclosures and addendums are included with the lease renewal
Record the lease renewal with the appropriate government entity if required
