In this article, we’ll offer our guide as to why agencies should consider outsourced lease renewals as part of their everyday process.
A Full-Proof Solution to Enhance Owner Experience
The renewed lease process is considered a relationship-building activity between the Property Manager and Owner.
If this process is done on time and with the right preparation it provides the opportunity to not only educate our Owners on current market conditions, stock levels and recommendation on the renewed price point.
It also opens the dialogue to discuss with the Owner possible improvements to be made to the property or in some instances, the Owner may be in a position to consider selling the property which in turn can allow us to be proactively managing these leads.
This workflow requires foresight, efficiency and accuracy to ensure the experience for both Owner and Tenant is professional, without complication and time-sensitive.
Let STAFFLINK handle the lease renewal administrative tasks
As a Property Manager, it is vital to remain ahead of the curve. By offshoring with STAFFLINK, you are able to attain a high level and consistent administrative results.
In this workflow, we’ll be breaking down the renewed lease workflow and present you the benefits you can achieve by letting STAFFLINK handle your daily backend tasks.
Want to know how STAFFLINK can pay your bills on your behalf with efficiency and transparency? Check out our Bills and Invoices Workflow!
How STAFFLINK helps you create your online listings
Organising a work chart ensures that each team member is aware of their roles and responsibilities. It is as simple as providing a description for each step and delegating the right people in the right roles.
To give you an idea, below is a sample of our outsourced lease renewals workflow that we have set up with our clients:
Time spent per month per new listing task for 50 properties
Forward Signed Lease
Local
10 seconds per property | 50 properties = 8 minutes
Forward the lease to your Stafflinker once it has been signed by the tenant.
Update Information in PM Software
Stafflinker
less than a minute for each lease | 50 properties = 25 minutes
This includes updating the agreement date for renewed leases or rent review date for periodic leases, and updating the rent amount.
Upload Signed Lease into Owner and Tenant Folio
Stafflinker
less than a minute for each lease | 50 properties = 25 minutes
Stafflinker to save a copy of the signed lease in your PM system or shared drive.
Email Owner & Tenant
Stafflinker
2 minutes for each lease | 50 properties = 1.70 hours
An email to the owner and tenant is sent including the lease that has been returned.
Charge Lease Renewal Fee
Stafflinker
1 minute for each lease | 50 properties = 50 minutes
Stafflinker to charge Lease Renewal fee provided that there were very clear actions on how to complete this otherwise, it would be charged by the PM.
Save Lease Renewal Campaign History as a PDF to PM Software
Stafflinker
1 minute each property | 50 properties = 50 minutes
Stafflinker to save correspondence trail and archive the history for record-keeping purposes.
Now that you see an example of the renewed lease process, you can start reviewing and optimising what you currently have in place. But if you don’t have time for it…
Leave it to STAFFLINK, We’ll Take It From Here
STAFFLINK is able to complete the majority of the time-consuming research and preparation elements of the lease renewal process for your business.
This renewed lease weekly workflow is designed to maximise the efficiency of your staff to deliver only the best results.
STAFFLINK also takes full advantage of cloud software and database tools to create structured workflows and processes that are easy to understand.
If you would like a demo of THE HUB, Powered By The Hub, please contact our friendly team today!
