Workflow Templates: Lease Renewal Checklist

Lease Renewal Checklist

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

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

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

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

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

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