Renew with new terms
- Open the current lease and choose Give notice. Set the last day of the current terms as the end date. If that day has already passed, choose End instead.
- Choose New lease with the same property, unit and tenant.
- Set the start date to the day after the old end date, and enter the new rent, service charge, end date and deposit.
- Activate the new lease. It does not overlap the old one, because the old one stops the day before.
- After the old end date, open the old lease and choose End.
Charges for the change-over month are prorated on both leases, so the tenant is charged the old rent for the days before the change and the new rent after it.
Why a new lease
- Charges already generated stay tied to the terms they were generated from.
- The rent roll and reports show which rent applied in which month.
- The tenant's ledger stays one continuous history, because both leases belong to the same tenant.
Note: Automatic rent indexation, such as Indexmiete or CPI-linked increases, is not available. Calculate the new rent yourself and record it with a new lease.
A simple rent change
You can also edit the rent, the service charge, the due day and the end date of an active lease with Edit. The change applies to charges generated from then on. Charges already on the ledger stay as they were. The unit and the start date can only be changed while the lease is a draft.
Tip: Edit the rent before the month it applies from is generated, usually before the 1st. Otherwise void that month's rent charge and generate the month again. See How monthly rent charges are generated.
Extend an open-ended lease
An open-ended lease without an end date runs until notice is given, so it needs no renewal. Only a change of terms needs a new lease.