How to process Lease Renewals & Bond Top Ups
20.2 Automated Extension of Payment Schedules
Every Agency should be set up with their own customised settings in this regard. Contact us should you have any questions or would like to change your settings and we will Help!
Our default approach is to notify the PM 28 days prior to the end of the payment schedule (lease) to check to see if the tenant needs to renew.
If the tenant's payment schedule is not renewed, SimpleRent will Auto Extend the payment schedule.
At what time / day will the schedule auto extend?
The auto extension of the new payment schedule will automatically take place at 3am; the day prior to the last direct debit and expiration of the schedule.
What if we do not want the payment schedules to auto extend?
If you prefer to NOT auto Extend, we can set your agency to not auto extend the payment schedules.