Lease Renewal Process

165 Days from Lease End Date

240 Days from Lease End Date

165 Days from Lease End Date

On Monthly Lease

Step 2: Present recommendation and renewal terms to the owner.

Step 3: Acquire Owner's Approval

Step 4: Finalize Renewal Terms

Step 1: Provide Recommedation and Draft Renewal Terms

Lease Renewal Process

Step 7: Follow Up with the Tenant

Step 6: Acquire Tenant's Decision

Step 8: Acquire Lease Terms Approval

Step 5: Send Renewal Offer to the Tenant

Step 11: Countersign the Lease

Step 9: Notify Owner of Lease Renewal

Lease End Date

Step 10: Send Renewal Lease Agreement to Tenant

Step 10: Send Renewal Lease Agreement to Tenant

GPS Renting will send the official lease renewal agreement to the tenant for their signature. This step involves sending the finalized lease terms to the tenant, who must review and sign the document to officially confirm the renewal of their lease.

Step 3: Acquire Owner's Approval

GPS Renting will request and secure the owner's approval for the recommended lease renewal and terms before proceeding. The goal is to obtain the owner's final decision within 20 days from the initiation of the renewal process.

Start of Renewal Process

In the city of Issaquah, our policy is to start the lease renewal process 165 days before the tenant's lease end date. The initial steps include:

• Reviewing the tenant's rental history to provide a renewal recommendation
• Preparing a Comparative Market Analysis (CMA) to recommend a rental price
• Contacting the owner to finalize the renewal decision

Step 5: Send Renewal Offer to the Tenant

GPS Renting will send the renewal offer to the tenant. This involves formally presenting the updated lease terms and conditions to the tenant, giving them the opportunity to review and accept or decline the offer. This step ensures that the tenant is aware of and can respond to the proposed lease renewal.

Step 1: Provide Recommedation and Draft Renewal Terms

GPS Renting will evaluate the tenant's rental history and provide a recommendation to the owner on whether to renew or not renew the lease. Additionally, GPS Renting will prepare a Comparative Market Analysis (CMA) to propose an updated rental price for the owner's approval.

Start of Renewal Process

In the cities of Kenmore, Seattle, Redmond, Kirkland, Shoreline, and Woodinville our policy is to start the lease renewal process 240 days before the tenant's lease end date. The initial steps include:

• Reviewing the tenant's rental history to provide a renewal recommendation
• Preparing a Comparative Market Analysis (CMA) to recommend a rental price
• Contacting the owner to finalize the renewal decision

Step 6: Acquire Tenant's Decision

This step includes:

• GPS Renting will determine whether the tenant plans to renew the lease or vacate the property.
• If the tenant chooses to renew, GPS Renting will obtain their approval of the proposed lease terms and conditions.
• If the tenant decides not to renew, GPS Renting will instruct them to initiate the move-out process through their online portal, ensuring they follow the required procedures for a smooth transition.

Step 11: Countersign the Lease

After the tenant signs the lease renewal agreement, GPS Renting will countersign it to validate and complete the agreement. This ensures both parties have formally agreed to the renewed lease terms and the document is officially finalized.

Step 7: Follow Up with the Tenant

This step includes:

• GPS Renting will ensure timely receipt of the tenant's decision by sending regular reminders.
• GPS Renting aims to obtain the tenant's final decision 80 days before their lease end date.
• If the tenant does not provide a decision within this timeframe, GPS Renting will serve a notice (either a notice of renewal or a notice of non-renewal). Note that a $95 fee will be billed to the owner for this action.

Review and Offer a Term Lease

For tenants on a month-to-month lease, we proactively reach out every two months to offer the option of transitioning to a fixed-term lease. This ensures that tenants are regularly informed about their leasing options and allows us to maintain structured lease agreements.

Start of Renewal Process

In other cities outside of Kenmore, Seattle, Redmond, Kirkland, Shoreline, Woodinville, our policy is to start the lease renewal process 165 days before the tenant's lease end date. The initial steps include:

• Reviewing the tenant's rental history to provide a renewal recommendation
• Preparing a Comparative Market Analysis (CMA) to recommend a rental price
• Contacting the owner to finalize the renewal decision

Step 2: Present recommendation and renewal terms to the owner.

GPS Renting will reach out to the owner to present the renewal recommendation, along with the proposed terms for the new lease. This step ensures the owner is fully informed and involved in the decision-making process regarding the lease renewal.

Step 9: Notify Owner of Lease Renewal

GPS Renting will inform the owner that the tenant has agreed to renew the lease and provide details of the finalized renewal terms. This ensures the owner is updated on the lease status and any new agreements in place.

Step 4: Finalize Renewal Terms

Upon receiving the owner's approval, GPS Renting will finalize the renewal terms and prepare the lease agreement to be presented to the tenant. This step ensures that all agreed-upon terms are clearly documented and ready for tenant review.

Step 8: Acquire Lease Terms Approval

GPS Renting will obtain the tenant’s formal approval of the lease terms if they decide to renew. This ensures that both parties are in agreement on the new lease conditions before finalizing the renewal.