Some leases give Tenant the option to renew their lease after it expires. UnitConnect can keep track of those options so you don't have to. To add an option, you must first visit the Rent Details page. Simply click Properties in the Top Navigation Bar, then select the property and tenant that you wish to add options to. Finally, click Rent Details in the Actions Menu.
In the Rent Details page, click the Add button under the Rent Breakdown table to add an Option Period. Here's an example of adding an option to renew a lease:
- Enter a start date and end date of when the Option Period will begin and end (ex. 01/01/25 to 12/31/2029)
- Enter the monthly base rent amount (ex. $3,500)
- Check off the option box and specify which number option it is, as some leases have multiple options (ex. 1)
- Enter the amount of days you want to be notified by of whether or not the tenant will renew. (ex. 90)