Renewing Current Terms & Breaks

  • Updated

For North American users, please be aware that "Tenancies" are known as "Leases" and "Terms & Breaks" within a Tenancy are referred to as "Terms & Options". For more information on regional terminology, please refer to our Glossary of Regional Terminology.

The purpose of this article is to guide you through the process of renewing the current term of a lease/tenancy within Re-Leased. A term renewal is a necessary step in extending a lease agreement, making sure that both parties are on the same page regarding the terms and conditions for continuing the lease/tenancy. We provide two straightforward methods to ensure an efficient renewal process. 

Renewing Through Lease/Tenancy Details

The first method to renew a lease/tenancy involves updating details directly through the Lease/Tenancy itself:

  1. Select the related lease/tenancy and navigate to the Terms & Breaks tab from the left-hand menu.
  2. Click the Renew Term button.

Copy of HelpCentre_Desktop Landscape_Static  (62).jpg


Renewing Through Dashboard Reminders

Alternatively, you can renew a lease/tenancy from the Dashboard reminders:

  1. Click on the renewal reminder from your Dashboard Calendar (e.g., Renewal, Term Expiry, or Renewal Option Expiry).
  2. Select Renew Current Term.

Screenshot of Dashboard - Re-Leased (5).jpg

Renewal Details Breakdown

Upon reaching the Term Renewal page, you'll encounter three sections:

Terms & Rights of Renewals

  • Current Term information is displayed for reference in a Read-Only format.
  • New Term details are pulled through immediately from the next Right of Renewal, allowing you to make edits and record the Option Exercise Date if applicable. Add the options article
  • Tick Rolling Term only if you wish to remove all future Rights of Renewal.
  • If any subsequent Rights of Renewal exist, they will be displayed for you to adjust or add additional ones as required.
  • Should there be any Options associated with Lease/Tenancy renewals, their expiration details and reminder settings can be recorded.

Screenshot of Renew Term - Re-Leased.jpg


Rent and Rent Invoice Template Lines

Review and update the current rent details, with particular attention to the First Payment date to ensure the new rent amount starts on the intended date. Expand the Show Rent Template Lines for more details if needed.


Rent Reviews

At this stage, you can also set up future Rent Reviews:

  • Loaded Rent Reviews display and can be altered or supplemented with additional reviews, specifying the first review date, review type, and frequency.
  • Use Generate Rent Reviews to establish the new schedule, which will replace any existing reviews.
  • For rolling terms or post-expiry arrangements, employ Add rent review to insert Rent Reviews manually.
  • Any unnecessary Rent Reviews can be removed with a quick click on the adjacent red button.

Screenshot of Renew Term - Re-Leased (1).jpg


With these steps, you can effectively renew the terms of your leases/tenancies, ensuring a smooth transition into the new lease period.

Was this article helpful?