Purpose
This procedure contains the conditions for Lease renewals and Rental reviews.

Procedure

Rent Review & Lease Renewal
•	Carried out with Periodic Inspection, or
•	Print a list of Tenancy Agreements that are due to expire in the next 90 days.
•	The list is checked for accuracy and verified against any existing instructions from the Landlord Client on file, in relation to Lease Agreement Renewal and Rent Review.
•	If unfamiliar with the property, a Property Inspection and Comparative Rental Analysis are completed.

Landlord Instructions Sought
•	The Landlord is contacted to advise:
o	Expiry date of the Tenancy Agreement
o	Renewal Agreement recommendations
o	Rent Review recommendations.
•	Diarise follow up of the Landlord's response for 14 days time.
 
Landlord Response (Follow Up)
•	After 14 days, if the Landlord has not responded, follow up.
 
Landlord - Approved/Not
•	Landlord's instructions confirmation letters are:
o	Prepared
o	Checked for accuracy
o	Saved
o	Signed
o	Sent 

Tenant Advised
•	Prepare, confirm, save, sign and send appropriate letter/ Notice of Rental increase  to the Tenant within 7 days of the Landlord's approval to confirm instructions.
•	Ensure correct notice periods given (Rental Increase).

Computer Updated
•	Update computer with next Lease Renewal/Rent Review date.
•	Update when the Rent Increase is to take effect & amount.
•	Do not change Lease expiry date until the Lease is signed. 
 
Renewal Tenancy Agreement Is Prepared And Executed
•	Lease renewal documentation is prepared as per Property Hand Over – Agent to Tenant Procedure.
•	Arrange for the Tenant to sign the Renewal Agreement. 
•	Where a Tenant insists on the Agreement being sent to them, seek the Department Manager's approval. This is usual for large company lease agreements. 
•	Renewal Agreement is executed.