How to Renew a Lease?
When a lease is about to expire or has already expired, it’s essential to manage renewals promptly. PropSpace Property Management Software allows you to renew expiring or expired leases, ensuring a smooth transition without missing important details. Follow the steps below to renew a lease.
To renew an expiring or expired lease in PropSpace, follow these steps:
- Click on the Leases screen
Scroll down and select the appropriate leases tab: either the Expiring Leases or Expired Leases tab.
Select the lease that you wish to renew and click Action > Renew Lease.
Complete the required information:
- Assigned To
- Start Date
- End Date
- Lease Amount
- Payment Mode
- Payment Frequency
- Renewal Fees
Once all details are filled out, click Renew.
A confirmation window will appear with the renewed lease details. Click OK to finalize the process.
Renewing a lease through PropSpace is quick and straightforward, ensuring that all details are updated and the lease is properly extended. With a few steps, you can manage expiring or expired leases efficiently and maintain smooth operations.
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