Lease Renewals – Tips for Landlords
As one of the top-rated Property Managers in Bothell Washington we are also happy to discuss our process, including how we renew leases.
Lease renewals is an important and regular part of being a landlord. It this post we’ll share our thoughts and tips on the best way to handle the process or renewing your tenant.
Start the Lease Renewal Process Early
Don’t procrastinate on approaching your tenant an their intentions of renewing. We like to ask the tenant 60 day from when the lease expires.
Starting the renewal 60 days out will give you time to find out if they have any specific issues or problems with the leased property that you need to resolve before they would consider renewing their lease with you for another year.
Make The Process as Easy as Possible for Them to Sign
Don’t require your tenants to come into your office to to sign the renewal document, instead go them them and sign at the rental property. This will also lets you see the property again.
Offering them the capability to renew their leases online using services like DocuSign. Most people are familiar with online document signing services and won’t have a problem with using them especially if they will save them the hassle of having to go somewhere to sign a document when they can do it from home or work.
Keep it Simple
We prefer to use an addendum to renew the lease, instead of negotiating or signing a whole new lease. For a standard renewal with no changes it will be four lines, Lease Term, Start Date, End Date and Rent.
Get Bothell WA Property Management
Tired of managing your rental properties? We can save you the time, money and hassle of maintenance calls, rent collection, and everything that goes with being a landlord!
Contact Comble Property Management by calling us at (425) 458-1002 or connect with us online.