Kimberly Catalan

1. Lease Renewal Tracking Objective: Ensure lease renewal dates are tracked and flagged in advance for timely action. Steps: • • Set Renewal Reminders: o In AppFolio, input lease renewal dates into the system when initially creating the lease agreement. This allows the software to automatically generate reminders. o Set reminders for 90, 60, and 30 days prior to the renewal date for follow-up. Track Current Lease Expiration: o Regularly monitor the dashboard or lease status page for upcoming renewals. o Use AppFolio’s “Lease Expiration Report” to create a list of tenants whose leases are nearing expiration. 2. Review Lease Terms and Rent Increase Regulations Objective: Ensure lease renewal terms are in compliance with Washington State and City of Seattle laws. Steps: • • Review Rent Increase Limits (if applicable): o Washington State limits annual rent increases to 10% of the rent in the 12 months preceding the increase or 2 times in a 12-month period. Make sure that rent increases comply with these rules. o Seattle’s rent increase rule requires a 60-day notice for rent increases, and the total increase should not exceed 10% in a 12-month period. Check Other Legal Requirements: o Review if any special considerations are needed, such as updates to the lease terms related to tenant protections in Seattle (e.g., rent control, relocation assistance, etc.). 3. Communication with Tenants Objective: Notify tenants of the lease renewal offer in a compliant and professional manner. Steps: • Initiate Communication via AppFolio: o 30-60 days before the lease expiration, send an initial email via AppFolio offering a lease renewal. Ensure the communication includes: ▪ A reminder of the lease expiration date ▪ Information about any rent increase (if applicable) with justification • The option to sign a new lease or decline the renewal offer ▪ Instructions on how to respond Reminder Communication: o • ▪ If there’s no response after 10-14 days, send a reminder email. AppFolio allows automated follow-ups if a tenant hasn’t responded. Document Responses: o Ensure all communication, including tenant responses, are documented in AppFolio. 4. Tenant Decision Management Objective: Ensure proper management of tenant responses to renewal offers. Steps: • • Tenant Accepts Renewal: o Once the tenant confirms they want to renew, ensure the new lease terms are updated in AppFolio. o Send a lease renewal agreement for e-signature via AppFolio’s e-signature feature. Review and ensure both parties sign the agreement electronically. o Confirm the new lease start date and any changes in rent or other terms. Tenant Declines Renewal: o If the tenant decides not to renew, confirm the move-out date and ensure proper communication about the move-out procedure. o Use AppFolio’s lease end functionality to document the move-out and any necessary follow-up actions (e.g., security deposit return). o Ensure compliance with Washington State and Seattle laws related to tenant rights upon departure, including the return of deposits, move-out inspection, and final billing. 5. Lease Agreement Execution & Document Retention Objective: Ensure that executed lease agreements are stored and compliant with local laws. Steps: • • Lease Finalization: o Upon tenant's acceptance of renewal, update the system with new lease dates, any rent changes, and modifications to terms. o AppFolio automatically generates a digital copy of the new lease that is stored in the system for easy access. Retention and Compliance: o Ensure all documents, including renewal notices, signed leases, and rent adjustment notices, are saved in the tenant’s AppFolio account. o Retain lease renewal records according to Washington State and Seattle’s record-keeping requirements. 6. Financial Adjustments and Billing Objective: Ensure accurate rent charges are applied based on the new lease terms. Steps: • • Update Rent in AppFolio: o If there is a rent increase, update the rent charges in AppFolio to reflect the new amount starting on the renewal date. o Ensure any security deposit adjustments (if applicable) are handled according to the Washington State rules on deposits. Automated Invoicing: o Set up automated billing for the new lease period. o AppFolio will automatically generate monthly rent invoices and send them to tenants based on the new terms. 7. Ongoing Monitoring and Documentation Objective: Maintain transparency and legal compliance throughout the lease renewal process. Steps: • Ongoing Communication: o • Maintain communication with tenants throughout the lease renewal period, especially if any issues arise (e.g., disputes over rent increases). Compliance Audits: o Regularly review AppFolio’s compliance reports to ensure all renewals are processed in line with applicable Washington State and Seattle rental laws. o Keep track of any regulatory changes in Seattle and Washington State laws and update lease terms accordingly. To integrate LeadSimple, Google Sheets, and AppFolio into your lease renewal process, here's how each tool can be used effectively within the workflow: 1. LeadSimple – Task Management & Tracking Objective: Ensure accurate tracking of tasks and deadlines during the lease renewal process. Steps: • • Task Assignment and Due Dates: o Use LeadSimple to create tasks for every step of the lease renewal process. This includes sending out initial renewal notices, reminders, processing tenant responses, and updating lease terms. o Assign tasks to the appropriate team members (e.g., property managers, administrative staff) and set clear due dates for each action item to ensure timely follow-up. o Track the completion of tasks and ensure nothing is missed. LeadSimple allows you to set reminders for tasks and provides an overall view of the progress in real-time. Workflow Automation: o • Automate recurring tasks, such as sending renewal notices or follow-up reminders, to streamline the process and avoid manual errors. Task Completion Monitoring: o Monitor the status of each task and ensure that each step of the lease renewal process is completed on time. LeadSimple provides task statuses (e.g., In Progress, Completed, Overdue), so you can easily track where things stand. 2. Google Sheets – Data Tracking & Reporting Objective: Use Google Sheets to track and organize detailed tenant information, lease renewal statuses, and report data from AppFolio. Steps: • Centralized Tracking of Lease Renewal Information: o • Maintain a Google Sheets spreadsheet to track tenant details that need to be processed for lease renewals. This spreadsheet can include: ▪ Tenant name, unit number, current lease expiration date, eligibility for rent increase, rent increase date, and renewal status. ▪ Update lease start and end dates for each tenant. ▪ Track property manager (PM) details and any required documentation or updates. Data Import from AppFolio: • o Export data from AppFolio into Google Sheets, such as the “Leasing Eligible for Rent Increase” report or tenant lists, for further tracking and analysis. o Use Google Sheets formulas (such as VLOOKUP or QUERY) to reference AppFolio data and ensure accuracy when tracking renewals. o Maintain columns for rent increase eligibility and ensure that rent increases or other lease terms are correctly noted in the spreadsheet. Collaboration and Visibility: o • Use Google Sheets’ sharing capabilities to allow multiple team members (e.g., property managers, admin staff) to access and update renewal information in realtime. This ensures collaboration and up-to-date tracking. Custom Reports & Conditional Formatting: o Create custom reports in Google Sheets for easy analysis (e.g., a list of tenants with upcoming renewals or those eligible for rent increases). o Use conditional formatting to highlight key dates, like expired or upcoming leases, making it easy to spot overdue tasks. 3. AppFolio – Reporting & Lease Management Objective: Use AppFolio for generating official reports, managing lease renewals, and tracking tenant communications. Steps: • • • Generate Lease Expiration & Renewal Reports: o Run the Lease Expiration Report in AppFolio to generate a list of leases due for renewal. Customize the report to track key data, such as tenant names, lease expiration dates, eligible for rent increase, and renewal status. o Filter the report to ensure you’re only seeing active leases nearing renewal. Track Rent Increase Eligibility & Compliance: o AppFolio’s report features help identify tenants eligible for rent increases, as well as whether they are due for renewal in the upcoming months. o Use AppFolio’s rent tracking system to verify that any proposed rent increases are compliant with local regulations in Washington State and Seattle. Automated Communication: o Use AppFolio’s email communication feature to automatically send lease renewal offers, reminders, and rent increase notifications to tenants. o • • • Track tenant responses in AppFolio’s tenant communication logs to ensure all messages are recorded and easily accessible. E-signature for Lease Renewal Documents: o Once a tenant agrees to the renewal terms, generate the new lease agreement in AppFolio and have the tenant sign electronically via AppFolio’s e-signature feature. o Store signed leases directly in AppFolio’s tenant file for easy access and reference. Financial Reporting: o Run financial reports on rent increases, security deposits, and any other updates that affect tenant billing. o Monitor any discrepancies in billing or payments, especially if rent increases are implemented during the renewal process. Group Properties for Renewals: o Create property groups in AppFolio specifically for lease renewal properties (e.g., “February Lease Renewals”) to keep everything organized and ensure that reporting is segmented by group.