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This guide has been reviewed against our global client base and classed as relevant to the following regions: UK, APAC, UAE

Tenancy renewal negotiations can be initiated individually or in bulk

Each stage of the negotiation process can be logged and also reported on using Power Reports


 View/initiate tenancy renewal negotiations individually or in bulk


1. Access tenancies due for renewal

From the Organiser, Property Management panel:

Enter the relevant number of days in the Tenancies due for renewal in section


Click the Tenancies due for renewal in section to view the relevant tenancies due for renewal


Hover over the panel header and click the Pop out into full results icon

2. Select tenancies and renewal manager

Select the relevant tenancies


In Set renewal manager choose which negotiator will be managing the renewal process for these tenancies


Click Start renewal negotiations


3. Contact relevant parties & initiate renewal negotiations

The options shown on the right will be automatically displayed:

Choose the method for making contact with selected tenants/landlords, e.g. E-mail


Click Proceed


Select who to contact


Click Yes to Begin renewal negotiations for selected tenancies


4. Access tenancies with initiated renewals 

From the Organiser, Property Management panel:

The newly initiated renewals will now be displayed in the Tenancy renewal negotiations section


See 4a

Tenancy renewal negotiations can also be initiated individually via the tenancy screen (see 4b)


 4a. Accessing the Renewal Negotiation screen

Click the Tenancy renewal negotiations section to view all current renewals in the Power Organiser:

Hover over the panel header

Click the Pop out into full results icon to view all renewals in one window, then select the relevant tenancy

OR

Click the Renewal link beside the relevant tenancy

The Renewal Negotiation screen will be displayed, as shown in the next section


 4b. Initiating renewals individually

Tenancy renewal negotiations can also be initiated individually via the tenancy screen via:

Details tab

Click Status menu and select Add renewals / alterations / fees

Select Add renewal negotiation (as shown below) and click Accept


OR

Financial & Renewals tab

In the Renewals / Alterations / Fees panel, click (plus) icon

Select Add renewal negotiation and click Accept

 Logging renewal negotiations

Each stage of the renewal negotiation process should be logged in the Renewal Negotiation screen:

INFO BOX

At any point, the Agreement tab can be accessed or a Follow Up date entered, click tenant/landlord name to view their records or click shortcut icons to call/email/send SMS

It is also possible to click the (plus) icon in the Activity Feed to add journal renewal notes, tasks & call reminders


1. Renewal Letter

Use the Letters button (top right) to select the template for the renewal letter


When the letter has been sent to the Tenant and/or Landlord, click the Not sent link and select Sent
Today’s date is used but can be changed - hover over the link to display a calendar icon and click to change the date


Further options, e.g. Chased, are then available


Letters need to be marked as Reply received in order to move on with the renewal


2. References

Click Status and enter the current reference status


Any notes can be entered into the field below


References (and Checks) need to be marked as Not Needed or Received in order to move on with the renewal

If using Checks, see next step - if not, skip to step 4


3. Checks (where configured)

Click the link beside Checks


Select a check and enter the date of completion, or click Not Needed (when appropriate)
A check may have more than one action

Each action for each check must be completed (or marked as Not Needed, see above) in order for the check to be classed as complete

An action is considered complete if a date is shown beside it


The Checks link will update automatically as each check is completed

All checks need to be marked as complete/not needed in order to move on with the renewal


For a dedicated guide on renewal checks, click here

4. Agreement

Use the Agreement tab to enter renewal agreement information, such as break clauses and responsibilities
These options are configured to meet the requirements of your business


When the Agreement has been generated and sent to the Tenant and/or Landlord, click the Not sent link and select Sent
Today’s date is used but can be changed - hover over the link to display a calendar icon and click to change the date


Further options, e.g. Chased, are then available


When the Agreement links have been marked as Reply received the renewal can be marked as Exchanged
Enter a date in the Exchanged field

5. Terms

The Terms section should be completed:

Grey text indicates terms carried across from the previous tenancy


Black text indicates an updated term for this renewal


Enter the Renewal end date
Right-click over the date field for shortcut options to Set to 6 months or Set to a year


To calculate a rent increase based on a percentage,
see 5a

Update all other fields as required


 5a. Calculating a percentage rent increase

Right-click over the Rent field


Enter a figure in the Set from percentage increase field and press Enter


Rent will be automatically calculated and updated

6. Fees

Enter any associated fees for the renewal

Click (plus)

A list of fees will be presented (dependent on configuration)


Select the fee type


Ensure the details are correct and click Accept

The selected fee/detail is shown in the Fees panel


 Reporting on renewal negotiations

Tenancy renewal negotiations can be reported on using Power Reports

On the main menu, click Reports and select Power Reports:

1. Select report type, basic report criteria & linked record type

Select Tenancy as the report type


Tenancy criteria can be selected first, e.g. to only return tenancies for a specific property manager, select Manager and choose the required person


In the Linked Records section, select 
Renewal Negotiations 

If this option is currently not displayed, click Show More


2. Renewal Negotiations criteria options

Selecting Renewal Negotiations offers the following criteria to report on

The Tenancy has renewal negotiations text can be clicked, allowing it to be switched to Tenancy does not have renewal negotiations

3. Example report

This example will return:

tenancies for a specific property manager
and...

where the tenancies have renewal negotiations in progress
and...

where references are needed but are not yet completed


INFO

For more information on Power Reports, click here

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