The lease that just ran out
A tenant's lease expires, and they stay on paying the same rent. Nobody on the landlord side started the renewal conversation. The tenant's agent eventually calls, and by then the tenant has looked at other buildings and is negotiating from strength. Or the tenant leaves at expiry and you learn about it when the keys come back.
Everyone knew the date. It was in the rent roll. What nobody had was a list of expiries that needed action this quarter, with a person responsible for each.
Why renewals start late
An expiry is not a single event. It is the end of a process that should begin a year or more before, with a view on the tenant's plans, the market, any works the space needs, the statutory position and your own intentions for the building. Your solicitor advises on the statutory side. Commercially, the conversation has to start somewhere.
- The rent roll shows expiry dates but nobody filters it by quarter and assigns them.
- Renewal conversations happen by phone and nobody records where they got to.
- Heads of terms go to solicitors and then disappear into email.
- Holding over is not tracked, so tenants roll on for years at old terms.
- Leasing, asset management and accounts each hold part of the picture.
What late renewals cost
You negotiate with less time and fewer options. Tenants who might have stayed look elsewhere. Space you might have refurbished before reletting is handed back with no plan. Rent sits at old levels while tenants hold over. And your forecasts carry income as secure that is really in play.
There is a knock-on in multi-let buildings too. Two or three expiries landing in the same year can empty a floor, and if nobody saw them together, you lose the chance to stagger them, offer one tenant more space, or plan a refurbishment while the floor is clear. Lenders and valuers look at the weighted lease length, and a cluster of unmanaged expiries drags it down just as you are asked to explain it.
The renewal pipeline we build
- Expiries are pulled from your rent roll or property management system and each one gets a record with a responsible person.
- Your team sets when each stage should begin, and the pipeline prompts the owner at that point with the lease summary and tenant history.
- Conversations are logged against the record, from a quick note after a call to the tenant's stated intentions.
- Deals move through stages you define: approach, terms discussed, heads of terms agreed, with solicitors, completed, or tenant leaving.
- Solicitor progress is chased from the pipeline, with a record of what is outstanding and who is holding it.
- Leases passing expiry without a new agreement are listed as holding over, so nothing rolls on unseen.
- A quarterly view shows income expiring, income renewed, income at risk and space coming back.
| View | Who uses it | What it answers |
|---|---|---|
| My renewals | Asset or property manager | Which conversations do I need to open or chase? |
| Pipeline by stage | Head of asset management | Where are deals stuck? |
| Income roll-off | Finance and directors | How much rent is up for renewal each quarter? |
| Holding over list | Everyone | Which tenants are past expiry on old terms? |
The pipeline can sit in your existing CRM, such as HubSpot or Salesforce, if you already use one, rather than being another system.
What your team sees each Monday
Each person opens their own list of expiries that need action, with notes from the last conversation. Directors see income at risk by quarter without asking for a report. Solicitor delays are visible. Tenants holding over are a short, visible list rather than a surprise in the annual audit.
Is this where you are?
- Tenants have left at expiry without you knowing their plans.
- Tenants are holding over on old terms and nobody is chasing.
- Renewal notes live in personal inboxes.
- You cannot quickly show income expiring in the next four quarters.
- Heads of terms stall with solicitors and nobody notices.