Tenant has not signed Renewal lease

[Brad Brubaker]

I have a tenant that is coming up on their 1 year lease.  The lease is good thru December 14th.  I sent them a renewal lease about a month ago.  They keep telling me that they are going to stay but still have not signed the new lease.  This is my first year in business and not sure what to do if the lease is not signed by December 14th. Any advise would be appreciated.

[Nathan Gesner]

I tell my employees all the time: if you expect a response, set a deadline! Track it, and have a consequence for failing to meet the deadling.

My renewal offer will say, "If I do not receive your decision in writing by close of business on November 30th, your lease will automatically convert to a month-to-month lease at the current rate plus 20%."

Something like that will get their attention. I call/text/email them one time with a reminder and that's it. There's no need to baby-sit them and I'm happy to take the extra money.

If they complain about the 20% increase, I let them know they are on a month-to-month and can give 30 days notice of termination or they can sign a new lease back at the original rate offered.