The Lease Renewal functionality in LandlordMax has been significantly upgraded in the latest update this week. In the past the lease renewal process would rely exclusively on the data already entered in the existing lease to determine the rent for the lease renewal process. Although this was fine in the past because of today’s economic climate this is no longer adequate and so the lease renewal process has been completely overhauled. You no longer even have to have entered the expected renewal information in the previous lease such as any rent increases and/or how much. The software now presents you with the above dialog where if you have that information pre-entered it will prefill everything, but if you don’t you can enter it right there on the spot. This makes renewing leases quicker and easier than before, and that you can make any adjustments right then and there as needed.
In addition to this the software will now also look to find any matching scheduled entries, specifically Scheduled Accounting Entries, Scheduled Invoices, and Scheduled Receipts, and if any are found it will also update them with the new rent amounts and so on. This saves you the extra steps of having to edit these scheduled entries after renewing the lease. The software will also inform you as part of the lease renewal process which types of scheduled entries were updated.
You can find more details and information in the Lease section of the online user manual here. Specifically the sub-section titled Renewing a Lease.
