Objective: To learn the purpose of the Lease action item and how the default configuration works.
Some management companies keep track of tenants as well as homeowners. In these instances, a Lease action item can be created to keep track of active leases and their expiration dates.
Step 1 - Review Lease - The first step of the Lease action item is "Review Lease". This action item can be started by any of its default followers but will go to the role in the Send To field. In this example, it's the Manager.
The action item defaults to sit on this step indefinitely until the Manager steps it to Active Lease. During this time, the management company has time to review the lease to ensure it is complete before approving it to be made active. If the lease is not approved by the management company, step 6 - Lease Denied - will inform the homeowner that the lease they submitted has not been approved, and the action item will be closed.
Step 2 - Active Lease - Once the lease is approved, on the day that it needs to be made active, that's when the action item will be stepped to step 2 - Active Lease. This step does not send to any role so it will not remain as an open action item in anyone's My Action Items page. When it is being stepped to Active Lease, there are two dates that must be filled out before hitting Update.
- Follow Up Date: The follow up date will default to the # of days to remain at this step indicated on step 2, but it can be changed to any date necessary. The Follow Up Date will be used to push this action item from step 2 - Active Lease to step 3 - Lease Expiring. It is best practice to make this date 30 days prior to the end of the lease.
- Due Date: The date at which the lease will expire and be marked as expired in Vantaca.
**For example, if a lease were to become active July 1, 2021, and the lease is to last one year, the Follow Up date should be June 1, 2022 and the Due Date should be July 1, 2022.**
Step 3 - Lease Expiring - is the step that the action item will move to once the Follow Up date has been reached. The default settings of this action item have this step sitting for 30 days before moving to Lease Expired. The Lease Expiring step will notify the homeowner, via email, that their lease is set to expire on the Due Date set and a new lease must be sent in for review.
Step 4 - Lease Expired - notifies the homeowner that their lease has expired, and a second role can be added to that step in order to notify one of the roles within your company. The default action item is set to send to the Homeowner and the Assistant Manager.
If a new lease has been provided by the homeowner when the current lease becomes expired, it can be stepped to step 5 - Closed and a new Lease action item can be created for the new, active lease.
If the lease is renewed for the same tenant, the same action item can be stepped back to step 2 - Active Lease with a renewed lease attached to the action item.
**As with most of our action types, steps can be added, durations can be changed, and email templates can be revised. Speak with your Implementation Consultant or Customer Success Manager if you need assistance configuring your Lease action item to fit the needs of your management company.