Lease renew feature

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Mary Hurd

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Feb 21, 2018, 11:49:22 AM2/21/18
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Hello,

Is anyone using this feature? If you have, do you have any regrets?


Mary Hurd

Owner, Property Manager
Rent Smart Property Management 


Sales Associate
Real Living Greater Montana Real Estate

    Image result for realtor logo
 
 
PO Box 1675
Missoula, MT 59806 
 
 
 

Devin Bewley

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Feb 21, 2018, 11:52:31 AM2/21/18
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I used it once and then realized my own error. What happens is it ends the current lease within buildium and starts them up as a new tenant each time, that means that you can't easily get to previous records like a security deposit or payments and when they were made or if they were missing you now have two separate records for the same tenant.

Have a fantastic day!
Devin Bewley
Broker/Owner
Legacy Properties-PM LLC.
720-989-1996
www.legacyproperties-pm.com
P.S. Any typos or unusual phrases are courtesy of Google Voice to Text.

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Mary Hurd

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Feb 21, 2018, 11:53:40 AM2/21/18
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That is my concern, too. That said, are you using it again this year?
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Devin Bewley

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Feb 21, 2018, 12:03:19 PM2/21/18
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No, after the 1st time, I stopped using it at all. Kind of like the new app they just rolled out, not using it either.


Have a fantastic day!
Devin Bewley
Broker/Owner
Legacy Properties-PM LLC.
720-989-1996
www.legacyproperties-pm.com
P.S. Any typos or unusual phrases are courtesy of Google Voice to Text.

Mary Hurd

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Feb 21, 2018, 12:04:03 PM2/21/18
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So frustrating because this would truly save me so much time!!! It is maddening.

Eric Boyd

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Feb 21, 2018, 1:27:44 PM2/21/18
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I'm not using it.  I handle the sending of renewal offers outside of Buildium thru Docusign. If they choose to renew, I'll just change the lease end date after the new lease is signed.   

I have NO IDEA why Buildium designed that to function like it does.  It doesn't make sense to me.  

Eric Boyd
FL Lic Real Estate Broker
Step One Realty LLC
Jacksonville, FL

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Mary Hurd

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Feb 21, 2018, 1:32:40 PM2/21/18
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It doesn't make sense to me, either.
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Glenn Lehman

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Feb 22, 2018, 6:29:41 AM2/22/18
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I was in a room with buildium the before the release and got a demo of the leasing module.  I stated to them that day that large property managers would not use it.  I believe this was one of the last upgrades they had planned focused on  smaller users and indipendent rental owners.  

Glenn D. Lehman, MPM®, RMP®, CMCA®
President
Management² - Exponentially better!
Follow us on Twitter: @RentCentralPa
Find us on Google: Google.RentCentralPa.com

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Peter Lohmann

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Feb 22, 2018, 6:42:37 AM2/22/18
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While I like the concept of a separate/new "lease" in Buildium for each lease renewal (because each lease may have its own start/end date, rent amount, and terms), in practice it just doesn't work well the reasons explained here. Further, it's confusing to have "future" leases (lease renewals) handled separately - for example if one of our university-area properties renewed their lease and added a new roommate, the new tenant will sit in our applications list for 9 months until that lease "renewal" actually becomes active. Very annoying and confusing.


Peter Lohmann

RL Property Management
753 E Broad St
Columbus, OH 43205

mel...@melissasieg.com

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Feb 22, 2018, 2:25:23 PM2/22/18
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After this first came out, I expressed the same problems and opinions to Buildium tech help - he commented before I was even done with my comments that they "heard" from the masses and changes were going to be made to how the renewal was done.    But I haven't seen any changes to it yet.   I do my renewals the same way others have expressed on this thread.  Just change the expiration date and increase the rent if applicable.....

Melissa Sieg
Corman Home Sales & Prop. Mgmt
Bellefonte, Pa.

Aaron Silverman

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Oct 9, 2018, 7:33:43 AM10/9/18
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I am late to the party on this topic, but I finally decided to give the lease renewal feature a try.

What a worthless feature!!  And, I mean completely and utterly worthless.  It actually makes the lease renewal process and lease management more difficult.  

Did Buildium even consult with a property manager on how a lease renewal should work?  Buildium wonders why people are slow to adopt their new feature, and personally, it is because they screw up so many of the new feature launches. 

I am going back to my old way - manually extending the lease end date.  

Aaron

Glenn Russell

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May 21, 2019, 2:12:34 PM5/21/19
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we do use if to generate the lease renewal letter.  It is useful for that.
because it maps all the fiels to generate the form.
sample:  3 page form         (the other Glenn)
Glenn Russell
Coastal Group Inv   va beach
======================================

[[Current_Date]]          [[Lease_All_Tenants]]                Renewal of your existing lease

[[Renewal_Offer]]

Dear Tenant:

Your lease at [[Property_Address_Line_1]] is up for renewal as of:  [[Lease_End_Date]].  

The purpose of this letter is to notify you that the Owner would like to offer a  [[Fixed_Renewal_Offer_Type]] lease at [[Fixed_Renewal_Offer_Amount]]  ending [[New_Lease_End_Date]]  plus any existing Pet rent and Utilities fees in the current lease.  The monthly "Rental Admin Fee" is $5.00.
At renewal, you may also elect to start our Renters Insurance coverage through Assurant / Bankers Life with $10,000 personal property and $100,000 liability coverage at a total of $16.00 per month. 

This is an ADDENDUM to and will become an integral part of the original lease which started on:  [[Lease_Start_Date]] .   If you are using our ePay system, you authorize us to update your automated payments to conform with your new rent charges.

Please sign and return the original in the enclosed envelope prior to [[Following_Month]]  keeping a copy for your records.  
If you have any questions about any of the above, please let us know.  This letter will serve as confirmation of your agreement to renew your existing lease. 

In the event that the Lease Renewal or a written notice of termination is not delivered to Coastal Group Inc by the date indicated above, the Lease shall continue in accordance with the terms of the original Lease.

As a reminder, please recall the requirement for annual carpet cleaning and fireplace cleaning (if any), which should be completed upon your renewal.
Please provide us with an updated copy of your renters insurance policy (if not using Assurant coverage) and any changes to your email and phone numbers.  

Thank you,                                      Read, understood and agreed  (all tenant signatures and dates)
                                                                             
Coastal Group Inc






(see page two on reverse)


As a condition of the renewal of your lease, we offer two options:
Option A:  provide us with updated information on your employment, email addresses and cellphone contact info,
          ------OR------
Option B: submit new rental applications at $35 per adult       (note: may be required by a rental owner if multiple late payments have occurred) ========================================================================


Tenant 1 Place of Employment_______________________________________________  

Cellphone:_______________________

email address:______________________________________________________

========================================================================


Tenant 1 Place of Employment_______________________________________________  

Cellphone:_______________________

email address:______________________________________________________

========================================================================


Tenant 1 Place of Employment_______________________________________________  

Cellphone:_______________________

email address:______________________________________________________

========================================================================


Tenant 1 Place of Employment_______________________________________________  

Cellphone:_______________________

email address:______________________________________________________

========================================================================

You can scan, email or fax both sides of the agreement back to our office at:  fax:  757-233-9696

or email to:   kma...@coastalgroupinc.com,        or    benfh...@gmail.com,  


______________________________________________________________________________________
         Renters Insurance Co, Policy #                (if other than through Coastal Group and Assurant)

                          TERMINATION OF LEASE
(This is a legally binding contract; if not understood, seek competent advice before signing.)

Tenant should return EITHER the Lease Renewal -or-  Termination of Lease form.

This TERMINATION OF LEASE from Tenant(s) dated ______________is given pursuant to the Lease made on [[Lease_Start_Date]] between (“Owner”), through Coastal Group Inc, and (“Tenant”) [[Lease_All_Tenants]], for the property located at [[Unit_Address_Line_1]] with a Renewal Date of  [[New_Lease_Start_Date]].


The Lease is hereby terminated effective ______________________ .  Tenant will vacate the Dwelling Unit no later than 5:pm on [[Lease_End_Date]].

Tenant’s forwarding address is: ______________________________________________________

Tenant is hereby notified that Agent will conduct an inspection to determine the amount of the Security Deposit to be returned.  Such inspection will occur within 72 hours of Tenant vacating the Dwelling Unit. 

Tenant may be present during the Move Out Inspection. Tenant DOES or Does NOT (circle) not wish to be present at the Move Out Inspection. If Tenant wishes to be present at the Move Out Inspection, Agent will notify Tenant of the Move Out Inspection time.

Tenant acknowledges that, pursuant to the Lease, Owner may place a place a “For Rent” or “For Sale” sign upon the Dwelling Unit and Premises and exhibit the Dwelling Unit and Premises to prospective tenants and/or purchasers after this notice of termination has been provided.

Such exhibition may include installation of an electronic lockbox. Tenant shall cooperate with Owner or Agent in making the Dwelling Unit available for such showings, which shall be conducted at reasonable times and with reasonable notice to Tenant.

Tenant agrees to surrender the Dwelling Unit in good condition, with the exception of reasonable wear and tear and must pay for all damages or assessments for damages made by Owner or Agent against Tenant in accordance with the Damage Addendum, if included, other provisions of the Lease, or as Owner or Agent reasonably determines.

This TERMINATION OF LEASE shall be delivered to Agent no later than the Renewal Date. If Tenant fails to terminate the Lease on or before the Renewal Date, as provided above, Tenant shall have accepted all new or changed terms contained in the Renewal of Lease.


Reason for Termination:________________________________________________


Other Provisions:______________________________________________________

 
Tenant:    Date ____________            __________________________________
                                                                 Signature 


Tenant:    Date ____________            __________________________________
                                                                 Signature 


Tenant:    Date ____________            __________________________________
                                                                 Signature 

======================================


On Wednesday, February 21, 2018 at 11:49:22 AM UTC-5, Mary Hurd wrote:
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