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Corcoran Horizon Knowledgebase

Resale Operations

Leases

Laurels Leasing Process (Admin)

Laurels Lease - Admin Workflow

Step 1: Generate Lease In Yardi

Open Your application has been approved! email in HubSpot
Log into Yardi and navigate to International Residential Dashboard
Select Person Search and look up unit number from approval email
Copy tenant link
Insert new row for the lease in the tracking spreadsheet
Paste link in the Tenant column
Update Status column to "Preparing Lease"
Click on tenant link
Select Prospect Link from the resident window
Copy dates application was submitted and approved into tracking spreadsheet
Navigate to Rental Options
Verify if the unit has a parking spot and open Reserve window if so
Copy code/description of chosen spot
Return to Prospect window and select Data → Ontario Standard Lease Data

Enter lease data

Parking Spaces/Description: # of parking spots - description copied from Reserve window
Tenant Notices via Email: Yes
Parking Amount $: Parking cost
Other Service 1: Storage Locker (if applicable)

Other Service 1 - Amount $: Locker cost

NOTE: SOME UNITS WILL BE APPROVED WITH A FREE LOCKER

Prorate $: Prorated rent amount

=(# of days in month - tenancy start date + 1) * total rent/# of 
days in month

NOTE: TOTAL RENT INCLUDES COST OF PARKING

Prorate Pay on Day: Lease start day

Key deposit Amount $:

$100.00 without a parking spot

$150.00 with a parking spot

Key Deposit Description:

Mail key, common area, front door key fob, unit key: $100 

Parking permit: $50

NOTE: REMOVE PARKING PERMIT FROM DECRIPTION IF UNIT DOES NOT HAVE 
A PARKING SPOT

Landlord Name: 2560390 ONTARIO INC.

Save changes and generate lease

Go to page 3 and enter applicable dates (move-in and end of month) if 
1st month’s rent is pro-rated before saving

Step 2: Prepare Lease

Log into itsorealesate.com
Select Tools → Webforms 2019
Dashboard → Impersonate Agent → Cynthia Cui
Create a new transaction
- Name: Unit # - 460 Columbia St. W., Waterloo
- Template: The Laurels Lease
- Add me as the: Neither
- Select “Use Wizard"
Enter transaction details
- Details
  - Address: 460 Columbia St. W., Waterloo, ON N2T 0C7
- Transaction Dates
  - Contract Date: 1 week prior to creating transaction
  - Expiry Date: Tenancy start date
- Contacts
- Add tenant(s) - Type: Tenant
```
NOTE: INFORMATION FOR SECOND TENANT CAN BE FOUND ON THE 
RESIDENT PAGE UNDER THE OCCUPANTS TAB



CLICK EDIT TO SEE SECOND TENANT'S CONTACT DETAILS
```
  - Enter unit # as address
- Forms
  - Confirmation of Co-operation and Representation – Tenant/Landlord
    - Information should generate automatically
    - Add ampersands where necessary
  - Working with a REALTOR®
    - Enter tenant(s) name(s)
  - Tenant Customer Service Agreement (For Use When the Tenant is Not Represented By the Brokerage)
    - Information should generate automatically
    - Add ampersands where necessary
- Documents
  - Select Add and upload lease generated in Yardi

Step 3: Send Lease via Authentisign

Go to Documents and select all → Send To New Authentisign

NOTE: REMOVE SECOND FITNESS ROOM WAIVER IF THERE IS ONLY ONE TENANT

Change signing name to "Unit # - 460 Columbia St. W., Waterloo - Lease Agreement"

Go to Documents tab and add remain docs (order below)

Add Guarantor Agreement after additional terms if required
UPDATE:PAD Agreement no longer required.

Add Signers (signing order below)
- Tenant(s) - Type Remote Signer
- Guarantor (if applicable) - Type Remote Signer
- Agent - Type Remote Signer
- Rego Realty Leasing - Type Reviewer
- Landlord/Devynn - Type Remote Signer
```
NOTE: CHANGE DEVYNN'S CUSTOM SIGNATURE TO "Devynn Tavares" 
AND CUSTOM INITIALS TO "DT"
```
Click "Layouts" → "Layout Options" → "Apply Layouts"
Review lease and enter Lease Start Date and Unit # on Metergy and PAD Forms
Select Next → Customize Invites → Import Message → Laurels Signing
Edit deposit amount (first month’s rent + last month’s rent + key deposit)
```
NOTE: REMOVE MENTION OF GUARANTEE FROM EMAIL IF THERE IS NO GUARANTOR 
```
Repeat steps 7 & 8 for all tenants/guarantors
Save changes and send lease

Step 3: Create Deal in HubSpot and Update Tracking Spreadsheet

Return to ticket and create deal
Send signing email through HubSpot (template in leasing inbox)
Update tracking spreadsheet
- Link unit # to HubSpot Deal
- Update Status column to "Lease Sent"
- Update Lease Sent column

Step 4: Verify Signing Completion

Open Please review documents email and save a copy of the lease to Google Drive Folder
- If the landlord denies the signing resend this copy of the lease with any corrections
- Have tenants initial corrections before sending them to the landlord

Overwrite lease with signed copy

NOTE: SAVE ALL DOCUMENTS AS A SINGLE PDF

Unlock and compress lease pdf
Upload lease to Yardi
- Go to Resident window → Data → Attachments → Upload
  - Change Type to Residential Lease
  - Select Show on Portal
  - Save
Verify if deposit has been received
- Return to Resident window → Reports → Ledger
- Mark Status as Deposit Outstanding if deposit has not been received
- Follow up as necessary
Create transaction in WOLFconnect
- Classification: LEASE - LANDLORD
- Property Type: Residential - Lease
- Sell Price: Rent amount
- Offer Date: Date signed by landlord
- Close Date: Lease start date
- Seller: 2560390 ONTARIO INC.
- Buyer(s): Tenant
Update Deal to Firm in HubSpot
Update tracking spreadsheet