Leasing Workflow

This handbook outlines the full leasing workflow to ensure all prospects are efficiently converted into future residents in a timely and effective manner.

📌 Purpose

✅ Accurately convert prospects into future residents.

✅ Ensure all leads, applications, and leases are processed correctly and efficiently.

✅ Maintain compliance with screening and lease generation guidelines.

📩 Lead/Guest Card Management

📌 Prospects can submit a guest card through:

• Your property’s website.

• Your property’s social media channels.

• A guest card link can be added to the property’s Linktree in its social media bio for easy access.

📌 Guest Card Requirements:

• First Name & Last Name

• Phone Number & Email

• Floor Plan Preference

📌 Additional Notes:

• Prospects can opt in or out of communication from the property.

• If entering a guest card manually, always confirm their communication preferences.

• When selecting a Lead Source, ensure it accurately describes how the guest card was received (e.g., Housing Fair, Instagram, Website).

• Prospects selecting a lead source through the property website will have their choice automatically recorded.

📌 Follow-Up Requirements:

✅ Guest cards populate on the property dashboard and must be contacted the same day they are created.

✅ GM/AGM/LM/RSM should assign each new guest card to a leasing agent for follow-up.

✅ Leads should be manually contacted according to the lead management timeline, with detailed activity notesadded for each contact attempt.

📝 Application Management

📌 Important Notes on Applications:

✅ All primary applicants must be 18 years old.

• If an applicant is under 18, an adult must be listed as the primary with the underage applicant as the occupant.

📌 Application Process:

1️⃣ Once an application is completed, an invitation link can be sent to the guarantor (if applicable).

2️⃣ ALL information must be accurate.

• False information may result in lease termination.

3️⃣ Once completed, applicants proceed to screening.

📌 Screening Process:

🔹 Dependent on the property, applicants will be screened through ResidentVerify:

• Students: Criminal background check only.

• Guarantors: Criminal background + hard credit check.

📌 Application Statuses & Actions:

Status	Action
✅ Approved	No further action needed. Lease is ready to generate.
⚠️ Pass With Conditions	Applicant passed but conditions must be met before approval (e.g., identity verification due to a credit hold).
❌ Fail	One or more applicants failed screening; the application cannot be approved.
⏳ Partially Completed	If the lease must be signed before completion, generate a lease stating deferred rent must be paid. A guarantor may be added later to remove deferred rent from the lease.

📌 Deferred Rent Guidelines:

• Primary applicants without a qualified guarantor must sign a deferred rent lease.

• Deferred rent must be paid before move-in and is applied as a deposit for the last two months of the lease (June & July), depending on the property.

• Per the lease agreement, deferred rent must be paid within 14 days of lease signing.

• International applicants without a Social Security Number must sign a deferred rent lease, as a guarantor cannot be approved without an SSN.

📜 Lease Management

📌 Generating a Lease:

1️⃣ Once an application is approved, generate the lease.

2️⃣ Ensure all merge fields are correct and all applicants are listed in supporting documents.

3️⃣ If a merge field is incorrect, update it before generating the lease (e.g., reoccurring charges, one-time charges).

📌 Lease Signing Process:

✅ Once all parties sign, the lease must be counter-signed by:

• GM, AGM, or LM (varies by property).

✅ Before counter-signing, double-check that:

• All lease details are correct.

• Pricing is accurate.

✅ Ensure the future resident is placed in:

• SmartSheet

• BUA (if applicable to your property).

📑 Step-by-Step: Lease Processing & Approval

📌 1️⃣ Sending the Application Invitation:

• Click “Send Invitation”.

• Click the primary applicant’s name.

• Send the applicant an invitation to start the application.

📌 2️⃣ Processing the Application:

• Once the application is complete, confirm there are no “missing items.”

• Click “Process Screening.”

• Click “View Screening Results.”

📌 3️⃣ Approving the Application:

• Click the dropdown menu.

• Click “Approve” to approve the applicant.

📌 4️⃣ Generating the Lease:

• Click “Generate Lease.”

• Click the dropdown and select the correct lease packet for your property.

• Click the button field.

📌 5️⃣ Adding Deferred Rent Details (If Applicable):

• If the applicant will be paying deferred rent, enter all custom merge fields correctly.

• Check “I acknowledge that I have reviewed all the merge fields and data.”

📌 6️⃣ Finalizing Lease Generation:

• Click “Generate Lease.”

• Click “Send Lease Invitation.”

🚀 Final Takeaways

📢 Efficient and accurate leasing workflow ensures a seamless transition from prospect to future resident.Following these steps will:

✅ Improve conversion rates by responding to leads quickly.

✅ Ensure compliance with screening and lease processes.

✅ Avoid delays in move-in readiness by handling deferred rent and lease approvals correctly.

💡 Quick Reminders:

✅ Guest cards must be contacted the same day they are created.

✅ Leads should always have detailed activity notes for tracking.

✅ Ensure lease pricing and merge fields are correct before counter-signing.

✅ Deferred rent must be paid within 14 days of lease signing.

✅ All completed leases must be recorded in SmartSheet or BUA.

For questions or clarifications, reach out to management. Let’s keep our leasing process smooth, accurate, and efficient! 💪🔥