Missing a renewal option notice deadline is one of the costliest errors in lease administration. When a tenant's renewal notice deadline passes unexercised, the tenant loses their option — potentially forcing an emergency negotiation or unplanned relocation. When a landlord misses a deadline to respond to a renewal notice, they may lose leverage in rent negotiations. Manual tracking across portfolios of 100+ leases is fragile and failure-prone.
Extract all renewal option provisions from every lease: number of options, term lengths, notice deadlines, rent determination methods, and conditions precedent.
Build an automated critical date calendar with configurable advance alerts (90, 60, 30 days before deadlines).
Cross-reference renewal option rent against current market rates to flag below-market and above-market options.
Generate renewal decision briefs for asset managers including: option terms, current vs. market rent comparison, estimated transaction costs of non-renewal (TI, downtime, leasing commissions), and recommendation.
Track exercise/waiver status and update the lease abstract accordingly.
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