Redline Lease Extension Agreement with airSlate SignNow

Redline lease extension agreement

I was talking to a property manager the other day and they asked me what percentages of our leases we choose not to renew but you know that's kind of a good question I don't even know if I know that exact number but it entered into a conversation a bigger conversation of when and why we don't want to renew attendance lease now I think there's a couple things to keep in mind here number one is this you want to have a documented non renewal policy for your office should you choose not to renew an existing tenants lease you want to have a reason even if it's an interoffice dock that you can refer back to is to say hey here's why we didn't renew this tenants lease agreement so here in Colorado legally we do not have to tell a tenant why are we are not renewing their lease so that's the first thing you want to find out for your state do you have to tell a tenant legally if you choose not to renew their lease do you have to tell them why they're not you're not renewing that lease now even if you don't have to legally tell them why you still want to have a documented non renewal policy and here's why what if you decide not to renew that tenants lease because they're just a pain in the neck and they complain all the time but that Hut that tenant goes to HUD and they say you know what I think they chose not to renew my lease because I have four kids and HUD said hmm let's check that out so I'd calls your office now you don't have to give the tenant a reason but you are gonna have to give a reason to HUD so you want to have a document to non-renewal policy and your documented non renewal policy should say something like this are says this grace management reserves the right and this is a this is an internal doc we don't share this with Tannen's grace management reserves the right and will not renew the lease agreement of any tenant who engages in our estimation in any of the following behavior so it's important to put in that that terminology in our sole judgment or in our sole discretion we're the ones deciding if you engage in any of these behaviors number one sues or threatens to sue look if you're gonna threaten to sue because you're upset about something I'm not gonna renew your lease number two demonstrates rude obnoxious hostile or threatening behavior including phone message or email so if tenants are doing that when they're being aggressive rude obnoxious to your people that should be a reason as well not to renew their lease number three demonstrates ongoing dissatisfaction with the property or of services provided if you have a chronic complaining tenant and they're never happy with you and there are always upset at you because of your the job you do don't renew their lease that should be a reason for you to choose not to renew the lease agreement and number four demonstrates non-compliance through lease violations or lease non-compliance if they're continually violating the terms of their lease that may be something as well that you decide not to renew it a new lease on now a big question is well what if they have paid late a few times that's where it's a judgment call if you have a tenant that pays two days late every day every month but they always pay maybe it's worth keeping them if they're paying twenty days late every month then maybe not you need to make that decision as a business decision between you and your property owner and your tenant but you want to have a non renewal policy so you can point back to reasons and not have to have a discussion on every lease but you can just measure the tenants behavior with your non renewal policy get rid of the bad tenants bring in a new one and keep the business running smoothly [Music]