Tenancy alterations & renewals/extensions

This guide has been reviewed against our global client base and classed as relevant to all regions

This page outlines how to apply a renewal/extension* or alteration to a tenancy

*The terminology - i.e. renewal or extension - in use on your system is dependent on configuration as chosen by your business - - for the purposes of this guide, renewal will be used

1. Access alterations screen

The Tenancy Renewals & Alterations screen can be accessed in several places on the tenancy record

From the Details tab:

  • Click the Status menu

  • Select Add renewals / alterations / fees

  • Or - click the icon to the right of the tenancy status, or from Financial & Renewals tab, Renewals / Alterations / Fees panel (bottom of screen), click 

 

2. Select renewal type

  • Select Add renewal, alteration or fee

  • Click Accept

For information on tenancy renewal negotiations click here

3. Add an alteration

For information on adding a renewal, see step 4

  • Ensure Alteration is selected

  • In the From field to the right, enter the date from which the alteration will apply 

  • The Rent and Payable fields are greyed out but can still be altered

    • Make required changes to one/both fields

  • Enter details of any One-off fee, Account, Amount and Narrative

  • The bottom panel allows adjustments to the fees to be made
    Although these fields are greyed out they can still be changed

  • Details of the alteration are stored at the bottom of the Financial & Renewals tab

To record a temporary change, two alterations need to be added
For example, if you need to enter a rent reduction for 3 months: the first alteration should be entered to cover the reduction, with a second alteration being added to start 3 months later, putting the rent back to its original rate

4. Adding a renewal

  • Select Renewal

  • The From and To dates to the right will be automatically populated, check these are correct for this renewal

  • The Rent and Payable fields are greyed out but can still be altered

    • Make required changes to one/both fields

  • Enter details of any One-off fee, Account, Amount and Narrative

  • The bottom panel allows adjustments to the fees to be made
    Although these fields are greyed out they can still be changed

  • Details of the renewal are stored at the bottom of the Financial & Renewals tab