Monthly Renewal Process and Timeline

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Monthly Renewal Process

Rev. 2/2024

Relevant

Achievable

Review and adjust the goal until it’s realistic.

Explain why the goal is important and how it fits into the bigger picture.

Renewal Letter with Proposed Price is sent to the Owner's

Any tenants that have not signed their Renewal from the previous month's batch will be sent 60- Day Notice to Vacate

Timely

Set deadlines for the goal.

Other reasons for non-renewal:

Notices sent today!

Measurable

Specific

Quantify the goal and make sure you can track its progress.

Clearly define the goal, people, and important steps involved.

Confirm Orange Team's Renewal terms, prices, utilties, and animal information is correct before sending documents to Residents to sign.

-CRPM Non-Renewal to Resident

-Owner Non-Renewal to Resident

-Owner Selling with Jason

-Owner Selling with their own Agent

-Owner Moving Back In

-Owner Transferring PMs

-Owner Self Managing

15th of the Month

1st Day of the Month

Reaching out to owners for approval, and tenants from previous month

1-11th of the Month

Last Week of the Month

Pricing this month and Monitoring last month renewals

15th through last day of the Month

Dear Tenant(s),

We are pleased to offer you a lease Renewal/Extension for your current property.

Attached you will find the Renewal Agreement to Amend/Extend your lease for 2024/2025 term. Please sign and return the renewal no later than March 31, 2024. All tenants must sign and date where indicated. If we do not receive the signed renewal by March 31, 2024 we will begin the process of finding a new tenant and start our notice process. If you do not plan on renewing your lease you must give 60-day written notice per your Lease.

At this time this is the only lease option that is offered. If you have a special circumstance where a month to month lease is requested, please note the following; month to month leases must be with owner approval. The new rent amount is base rent plus 20%. Very rarely do we offer the month to month option.

There will be a $100 administrative fee reflected on your ledger once the signed renewal has been received. Please refer to your lease or previous lease renewal if you have any questions.

Thank you in advance for your compliance to this letter. If you have any questions please do not hesitate to email.

Colorado Realty and Property Managements, Inc. Leasing Team

303-665-7368

purpleteam@coloradorpm.com

Once we have owner approval, we let Orange Team know to draft up the Reneawl in Rent Vine

Send POD properties up for Renewal for their feedback on tenant behavior (payment, maintenance, etc.)

At the same time, we are monitoring the previous batch of renewals for residents signing.

As Owners approve the rental rate we update our Renewal Spreadsheet and Lead Simple Process

As tenant sign the Renewal, we update our Spreadsheet and Lead Simple Process

During this time, Leasing is also doing market research to propose a renewal rate.

As residents sign the Renewal, we are updating our LeadSimple processes:

- Letting owners know the Lease has been renewed!

-Letting tenants know the Renewal is complete!

-Having Orange Team update RentVine with new dates, rental rates, sharing the Renewal documents

As residents sign the Renewal, we are updating our LeadSimple processes:

- Letting owners know the Lease has been renewed!

-Letting tenants know the Renewal is complete!

-Having Orange Team update RentVine with new dates, rental rates, sharing the Renewal documents

Things we consider:

-Current market rates of properties that are listed or recently rented

-unique features of your property such as updates, interior design, amenities, etc.

Relevant

Achievable

Review and adjust the goal until it’s realistic.

Relevant

Achievable

Explain why the goal is important and how it fits into the bigger picture.

Review and adjust the goal until it’s realistic.

Explain why the goal is important and how it fits into the bigger picture.

Follow up with Owners for approval

Timely

Set deadlines for the goal.

Timely

Set deadlines for the goal.