Lease Renewal / Redo Lease Renewal

This task is used to modify both household and lease information for conventional households.  These are households who do not require an Annual Recertification or an Annual Non-Financial Update.  You can add income and expense information in this task, but it is not required.

How do you get here?

Occupancy and Compliance Detail Leases Tab Tasks Lease Renewal

or

Occupancy and Compliance Detail Leases Tab Tasks Redo Lease Renewal

Prerequisites to complete task correctly.

• None

To Perform the Lease Renewal:

1. Accept or change the effective date for the Lease Renewal (LR) transaction.  This the effective (start) date of the lease.

2. Click Next.

3. Household Members (Household Detail - Members)

   • This is only used to make changes to existing members and adding/editing/deleting expected family additions.

4. Click Next.

5. Income and Expenses (Household Detail - Income and Expenses)

   • Add the new verified income, asset, and expense information for the household.

   • You are not required to enter Income and Expense information for a Lease Renewal.

6. Click Next to go through the Income and Expense tabs (Create Worksheet, Edit Worksheet & Summary).

7. If you have at least one charge type defined at System Administration > Accounting Setup - Charge Type Setup using the Insert Charge Type or Maintain Charge Type tasks to "Display on Move-in/Renewal", then you can maintain or remove existing Recurring Charges and Add new ones.

8. Click the Add link to add the necessary Recurring Charges for this household.  Select the type for the recurring charge and the Payment Amount.  Click Add again to add more recurring charges.  For existing recurring charges, you can select the Remove checkbox to remove them.

   • Only charge types that have the "Display on Move-In/Renewal" parameter selected at System Administration > Accounting Setup - Charge Type Setup using the Insert Charge Type and Maintain Charge Type tasks or customized at Accounting Detail > Account Maintenance using the Customize Charge Type and Maintain Customized Charge Type tasks will be included in the List of Types to be selected from.

   • When this task has been finished, recurring charges/scheduled items will be created on the Household’s Household Detail > Accounting > Receivables tab effective as of the same date as the certification you are working.  Changing the amount of an existing Recurring Charge will mature the existing Scheduled Item and replace it with a new Scheduled Item as of the effective date of the certification.  Removing a Recurring Charge will mature the existing Scheduled Item as of the day before the effective date of the certification.  All balance schedules created through this Recurring Charge step will have not maturity date and will be set with a frequency of Monthly.

   •  Any scheduled items created in these tasks can be maintained directly using the Maintain Selected Scheduled Receivable task on the Household Detail > Accounting > Receivables tab.

9. Click Next.

10. Create Lease - review the old lease and select the parameters of the new lease.

    • 6-Month Lease - the end date will be set to 6 months following the effective date of the lease set on the first step of the task.

    • 1-Year Lease - the end date will be set to 12 months following the effective date of the lease set on the first step of the task.

    • 2-Year Lease - the end date will be set to 24 months following the effective date of the lease set on the first step of the task.

    • Other - Set/select the end date of the lease term to what ever is needed.

    • Month to Month

    • No Lease

    • If the household is living in a unit that is in a Rent Regulation Funding Program:

    • • Set the Notice Sent Date under Certification Information

      • Set the Pref. Rent to None or set it to Duration of Lease or Duration of Tenancy, if a Preferential Rent is to be offered to the household.

      • • If set to Duration of Lease or Duration of Tenancy, enter the 1-Year and 2-Year Preferential Rent Amounts to be offered to the household.

      • Set the override for 1 and 2 year Security Deposits, if necessary.

      • • Values in these fields must be between zero and the related Legal Rent values.

        • The values entered here will flow into the additional deposit required fields on the lease form on the Household Detail > Transactions tab.

      • For Rent Regulation, you do not set the Lease Term in this task.  Lease Term is set with the Sign Lease or Sign Multiple Leases tasks when the household has selected the Lease Term on the returned/signed Lease.

11. You can Override Rent if it is allowed.

12. Click Next

13. An Overall Status window will pop up with a Passed or Failed message.

    • If you are unable to identify and correct the reason or reasons for failure, copy the failed message into an email and contact Bostonpost Client Support at myMRI or contact a Client Support Analyst directly at (877) 579-8896 for assistance.

14. If the Overall Status passed, click Close.

15. Select the available forms you want to print by clicking the box next to the document name.

    • You can also use the Select All and Deselect All links to help in making your selections.

    • Documents included in the "Lease Review: Review Lease" Document Group (System Administration > Maintain Documents - Maintain Document Groups) will be included in the list of available documents.

16. Specify the number of copies you want for each document.

    • You can preview many of the documents in Microsoft Word, make changes, and print them within Microsoft Word by clicking the preview icon.

17. Enter Additional Information as needed by any of the selected documents.  I.e. - Send Date and Return Date.

18. Click Finished to print the documents you selected.

19. A pop-up will appear stating "You have successfully certified this household."  Click OK