After finding a new tenant for the rental property, you can proceed to create a lease agreement between the client and the tenant(s) from the property card's Tenants tab.
- First, enter the tenant or tenants, either by selecting them from the CRM or by creating them as new clients. It's always a good idea to first check if the client (tenant) is already in the customer registry before creating a new client.
- After that, you can Edit the terms of the rental agreement. The terms you previously filled out on the Housing Information Form will be displayed, but you can now add and specify terms for the actual lease agreement. Finally, click Completed.
NOTE: The lease agreement terms and costs you save on the form will also be saved to the housing information form. If the marketing of the same property will be continued later, it's advisable to check before publishing that the housing information form does not display information you would not want to be publicly visible. - Once the tenants and the lease agreement terms have been filled out, you can click CONTINUE.
Next, fill out the Rent Statement, where the commission fee and its distribution are defined. These details will also be updated to reporting from the rent statement and assist in creating the commission invoice.
You can now proceed to make the lease agreement:
- First, choose the method of signature: Electronic or handwritten signature. If some signatories would like to sign the lease electronically and others by hand, you can choose electronic signature and later change the method of signature once everyone who wants to sign electronically has done so.
- After making your selection, you can Download the draft agreement. The system generates a .docx file of the lease agreement draft based on the previously filled lease terms. You can use a word processor (e.g., Word) to finalize the agreement before it is signed.
- Return the finalized lease agreement (and any attachments) to Linear now for electronic signing by the parties involved. If you had chosen handwritten signature in the first step, return the scanned signed lease agreement (and any attachments) to the designated area and click Mark the agreement as signed:
At the latest after everyone has signed the lease agreement, you could create and deliver an Invoice to the clients. You can learn more about creating an invoice from this article as the logic for creating an invoice is the same as for a sales property.
If it turns out that the tenant does not want to sign the lease agreement, or if the marketing of the property is to continue, you could click the "Cancel and return to start" button found at the bottom of the Tenants tab and republish the property from the Announcements tab.
NOTE: Keep in mind that if necessary, the property can also be copied as a new assignment if the same landlord contacts you again after a year, for example, asking you to find a new tenant for the same property. Instructions for copying the property can be found here.
Once the lease agreement is signed, the commission fees are paid, and everything else regarding the property is in order, remember to finally click End the property, at which point the property's status will update to Rented.