RealNex Knowledge Base

    Lease Renewals Investment Analysis

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    The data entered in the Lease Renewal dialog box specifies how the first and each subsequent Lease Renewal is defined.  The drop down list box at the top of the Dialog box identifies each lease via the Tenant name.  To set up Lease Renewal Data for a specific unit, simply select the Tenant name.  The software is designed to first have all the Contractual Lease information entered into the Rental Income table and then to proceed to the Lease Renewal dialog box.  In this manner, Lease Renewal data can be entered for all the units from this dialog box simply by working your way through tenants in the list.  As you move from tenant to tenant, the Lease Renewal data is automatically saved.
     
    The data for Lease Renewals is divided into two groups; Lease Renewal Details and Lease Renewal Rent Increases.

    Lease Renewal Details lets you specify the number of years (Term) between each Lease Renewal. Once the Term is specified, enter data for the other fields in this section as appropriate. Each item in this section is applied in the first year of each Lease Renewal.

    Lease Renewal Rent Increases gives you two different ways to specify increases in rent for each renewal term. The Term to Term option will increase the rent on the first year of each renewal term according the increase type and amount. The Within Term option allows you to define how the rent increases each year within the term from the second year to the last year.

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