Shifting a Tenant from One Unit to Another with a New Contract in FalconPro Real Estate Software

Shifting a Tenant from One Unit to Another with a New Contract in FalconPro Real Estate Software

Introduction

Tenant relocations within a property portfolio require careful handling to ensure accurate financial records and contract continuity. FalconPro Real Estate Software simplifies this process by:
✅ Automatically transferring tenant details from one unit to another.
✅ Generating a new lease contract for the new unit.
✅ Adjusting rent calculations and deposit transfers accordingly.

This guide explains how to shift a tenant from one unit to another while maintaining accurate lease and financial records.

1. Understanding Tenant Relocation in FalconPro

Tenant relocation occurs when a tenant moves from one unit to another within the same property or across different properties managed under FalconPro.

Common reasons include:

  • Upgrading or downsizing a unit.
  • Shifting due to maintenance or renovation work.
  • Moving to a different location within the same real estate group.

FalconPro ensures that all rental payments, deposits, and outstanding balances are transferred seamlessly to the new contract.

2. Initiating the Tenant Shift Process

To start the tenant relocation process:

Steps to Shift a Tenant to a New Unit:

  1. Go to “Leasing” → “Tenant Management”.
  2. Search for the Tenant’s Current Lease.
  3. Click “Shift Tenant to Another Unit”.
  4. Select the New Unit from Available Properties.
  5. Choose the Transfer Date.
  6. Select “Create a New Lease Contract”.
  7. Click “Proceed”.

✅ Now, the tenant’s contract is marked for transfer, and FalconPro initiates the lease transition.

3. Adjusting Financial Balances for the Transfer

Once the new unit is assigned, financial balances must be updated:

Steps to Adjust Financial Records:

  1. FalconPro Displays a Summary of the Tenant’s Current Balances.
  2. Choose Whether to Transfer the Security Deposit to the New Lease.
  3. Review Any Pending Payments or Overpaid Amounts.
  4. Select the Method of Rent Adjustment (if applicable).
  5. Click “Confirm Transfer”.

✅ Now, all pending balances are carried forward to the new lease.

4. Generating a New Lease Contract for the Tenant

Once the unit transfer is confirmed, a new lease contract must be generated.

Steps to Create the New Lease Contract:

  1. Go to “Leasing” → “Lease Contracts”.
  2. Click “New Contract”.
  3. Select the Tenant and the Newly Assigned Unit.
  4. Enter the Updated Lease Terms (Start Date, End Date, Rent Amount).
  5. Specify Any Additional Fees (if applicable).
  6. Click “Save and Generate Contract”.

✅ Now, the tenant has an active lease contract for the new unit.

5. Canceling the Previous Lease Contract (Optional)

If the old contract must be closed, FalconPro allows users to terminate the previous lease while keeping financial records intact.

Steps to Close the Old Lease Contract:

  1. Go to “Leasing” → “Lease Contracts”.
  2. Find the Old Lease and Click “Terminate”.
  3. Enter a Reason for Termination (Tenant Relocation).
  4. Ensure All Financial Adjustments Have Been Applied.
  5. Click “Confirm”.

✅ Now, the previous lease is closed while the new contract remains active.

6. Best Practices for Tenant Relocation in FalconPro

✅ Ensure all outstanding payments from the old lease are cleared before transferring.
✅ Transfer security deposits properly to avoid miscalculations.
✅ Generate a new lease contract immediately after confirming the tenant move.
✅ Use FalconPro’s reports to track relocated tenants and ensure smooth transitions.
✅ Maintain clear documentation for auditing and compliance.

7. Conclusion

FalconPro Real Estate Software provides a structured and accurate method for shifting tenants from one unit to another, ensuring:
✅ Seamless contract continuity.
✅ Accurate rent adjustments and financial tracking.
✅ Smooth relocation processes for both tenants and property managers.

By following these steps, real estate businesses can efficiently manage tenant relocations while maintaining accurate records.

FAQs

1. What happens to a tenant’s security deposit when shifting units?

Users can choose to transfer the deposit to the new lease or issue a refund and collect a new deposit.

2. Can FalconPro automatically calculate rent differences when transferring a tenant?

Yes, FalconPro adjusts rent calculations based on the lease start and end dates for both units.

3. Is it possible to move a tenant from one property to another under a different landlord?

Yes, FalconPro supports cross-property tenant relocations while maintaining separate financial accounts for each landlord.

4. How do I ensure the old contract is closed properly?

Users must terminate the old contract manually after ensuring all balances are adjusted.

5. Can FalconPro track multiple tenant relocations in reports?

Yes, users can generate tenant movement reports to track unit changes and relocation history.

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