1. Viewing contracts due to expire
For guidance on how to track guaranteed rent landlord contract renewals, please click here.
2. Setting proposed new guaranteed rent details
Before contacting the landlord about the possibility of renewing their contract, the proposed new guaranteed rent payment terms need to be set within the property record.
Go to Lettings Properties > View properties
Locate the relevant property
In the Street column, click on the property address
Open the Financials tab
The top set of guaranteed rent fields contains information relating to the landlord's current guaranteed rent payments. If these details are still valid, do not override them
In most cases, the +1 year fields (and +2/3 year fields, for longer contracts) are used to detail payment information for the renewal contract
Example: In the case shown below, the renewal contract is proposed to have a half-payment of £450 paid out on the 30th August 2020 and thereafter, payments of £900 will be paid out on the 30th of each month starting on the 30th September.
3. Contacting the landlord
If your branch is part of a franchise, please navigate to your dedicated documents portal as specific landlord renewal templates are available there. Details on how to access this portal can be found in your onboarding guide.
Users have the ability to create their own bespoke letter templates for use in the Template documents area. For guidance on how to do so, please click here.
To upload a new template for use, please follow the steps listed below:
Go to Correspondence > Template documents
Click on the upload icon (
)Drag and drop the template into the window or click on Add files and locate the template to be uploaded
Click Start upload
Once uploaded, close the pop-up window and refresh the page. This new template will now appear within the Select template dropdown.
Once the required template has been uploaded, the renewal letter can be generated. For guidance on how to create this letter, including how to send it electronically through Signable, please click here.
4. Updating contract dates
If the landlord has opted to renew their contract, the next step is to update the contract dates within the property record.
Go to Lettings Properties > View properties
Locate the relevant property
In the Street column, click on the property address
Open the Details tab
Scroll to the bottom of the page
Update the Current contract start date and Contract expiry date fields accordingly
Click Update property
Note: If different payment terms have been agreed upon, please navigate to the Financials tab and update the payment fields as required. This ensures that the correct information will pull through to the new contract.
5. Creating the renewal contract
For guidance on how to create a new landlord agreement, please click here.
Note: For our franchise clients, there are separate templates for new guaranteed rent landlord contracts and guaranteed rent renewal contracts available on your documents portal. So, before generating the new contract, please ensure that the correct renewal contract templates have been uploaded to your system.