Review/Approve Lease Renewals Overview

LRO Review/Approve Lease Renewals Overview

The system supports renewal pricing recommendations for leasing and bulk leasing renewal as a feature of the AMSI Evolution Suite / Rainmaker LRO integration, which provides revenue management via LRO lease renewal pricing recommendations to optimize rates and revenue.

Renewal lease pricing is maintained in the eSite database and the eDex Web method ImportNewLeasePricing in the Leasing_RM.asmx Web service supports and enables the processing of renewal data.
When the property policy Enable LRO renewal pricing recommendation is turned on and the user has the user permission for Review/Approve Renewal Pricing granted in the System module, then the Leasing menu item Review/Approve Renewal Pricing displays.
When the property policy Update Unit Type market rents during AME based on LRO lease rents and default lease term is turned on, then Unit Type market rents are updated during Accounting Month End based on LRO release rents for default lease terms.
With the Leasing menu item Review/Approve Renewal Pricing, users with permissions (managers) can review and approve renewal pricing submitted by Rainmaker LRO revenue management software.
During the lease/rent renewal process, when Review/Approve is turned on the system indicates that “approved rent” is displaying when the user sets up a lease renewal. The new System module user permission, Override approved renewal rent allows users with the permission to override the approved renewal rent amount.
The Renewal LRO Pricing report provides a list of leases expiring for selected properties with their potential renewal rent price based on the renewal lease term. This report shows the current rent and approved LRO renewal price.
Merge fields are available to be used with Lease Letters: Renewal Options and Charge Changes. In the Lease Letter, these merge fields display the Renewal Option Monthly Rent and old and new rates for charges, like Pet Rent.