Southern Oaks Residences

These residents are on expired leases. They should be paying market rent + the MTM premium fee. The "Increase" column shows how much revenue you're leaving on the table each month.

Before sending a renewal offer, verify the resident's account is current (see Delinquency report) and their security deposit meets the new rent amount. If they owe money, the renewal conversation should include a payment plan.

Deliver a written 30-day notice increasing rent to the MTM Rate shown below. This includes market rent + MTM fee. The resident can either accept the new rate, sign a new lease at market rate (no MTM fee), or vacate.

Start renewal outreach 90 days before expiration. Offer 12-month renewal at market rate. For good residents (no balance, long tenure), consider a small concession to lock them in. The goal is to avoid them rolling to MTM.

Log every notice date in Yardi. Follow up in person 7 days after sending. If a resident doesn't respond within 14 days, call them directly. Always keep proof of delivery (certified mail receipt, hand-delivery log with witness, or electronic read receipt).

After the resident signs a renewal or accepts the new MTM rate, update the lease charges in Yardi immediately. Set the new lease expiration date, update the rent charge code to the new amount, and adjust the security deposit requirement if needed. This ensures the next audit reflects the change.