Lease management for landlords

A lease in Crestlet holds the terms of a tenancy: what the rent is and when it falls due, the deposit, the notice period and the charges that come with the home. Everything else, from the invoices to the deposit settlement, follows from it.

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What a lease records

  • The term

    When the tenancy starts and when it ends.

  • Rent and billing

    The rent, how often it is billed and the day of the month it falls due.

  • The deposit

    How much security deposit the tenant pays.

  • Notice

    How many days of notice either side has to give.

  • Late fees

    Whether a late fee applies, a flat amount or a daily percentage, and after how many days of grace.

  • Recurring charges

    Parking, a service fee or anything else billed with the rent every cycle.

The life of a lease

  1. Draft the lease for a unit and the tenant who will live there.
  2. Change the draft until both sides agree, or discard it.
  3. Activate it. From then on its invoices are drafted on schedule, and the tenant can read it in their portal.
  4. End it when the tenancy ends, and settle the deposit.

Questions

Does Crestlet write the lease agreement for me?
No. It records the terms you have agreed, so that billing and the deposit follow them. The signed agreement itself is between you and your tenant, under the law where the home is.
Can I change a lease after it starts?
A draft can be edited freely. Once a lease is active, its recurring charges can still be added, changed or removed.
What happens when a tenancy ends?
End the lease, and the unit is free for the next tenant. The lease, its invoices and its deposit stay on record.
Can the rent go up during a lease?
Yes. A lease can raise the rent by a set percentage at a set interval, such as 5% every 12 months.
What if the tenant pays one lump sum instead of rent?
Choose a lump-sum tenancy. One refundable sum is held for the whole term, no rent is billed, and the sum is settled at the end like a deposit.

Related

Set up your first property today.

Add it, share a unit code, and your tenant can join before the day is out.

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