Course Content
Excel Property Management- Overview
About Lesson

Extra Procedures – Contract adjustments

A lease contract adjustment refers to any change made to the lease contract after the tenant has moved in.

*All Contract adjustments must be approved by Corporate*

Add people (occupants):

  • Anyone above the age of 18 who wants to join a lease contract must apply in the same way as any new tenant.
    (Inform the tenant and any potential tenants that there may be a fee for adding them to the lease contract. This will only happen if and when the corporation approves it.)
  • If they are approved, they must pay the fee before being added as a leaseholder to the lease contract.
  • Minors do not have to go through the application process, but their information must be documented in the system and the file.

Removing Lease Holders:

Couples may split up, or roommates may opt to go their own way.

In these cases, all leaseholders have to go to the office together. 

They’ll then sign a document agreeing to release a specific person from the contract. From that point forward, the renamed leaseholder(s) will be the only ones with rights to the apartment.

Transfer the lease to someone else:

When tenants need to leave an apartment for personal reasons and don’t want to be stuck with a broken lease contract, they transfer the lease contract to someone else’s name.

Of course, the person which is taking control of the lease contract will have to apply and get approved first.

Extras

 

If on any occasion a folder does not appear and the resident is requesting a copy of the contract.

The next step would be to print it (if you signed it online), otherwise, you have to re-do the file…

Look in through the office email for approval and there you can print all the documents. 

Lastly, you will have to sign the lease contract again, based on the dates in the system.

Exercise Files
No Attachment Found
No Attachment Found