This article guides new RenewalsAI users through navigating launch and setup. Navigate to each section of this article with the links below:
- General Workflow
- Notice to Vacate eDoc Automation
- Daily Renewal Reports
- Renewals Settings
- Configure a Community
General Workflow
Once you are all set up with RenewalsAI, the first thing to get acquainted with should be our Renewals Outreach Templates.
Please note that these templates are examples, and while they reflect typical outreach language, the messages and follow up cadence are generative and the exact wording may vary. We recommend reviewing the templates to get a general sense of tone and structure, but the specific phrasing used in resident messages may not match exactly.
The workflow for renewals in EliseAI is a pretty straightforward process. For the renewal lifecycle: approval, selection, and scheduled statuses are the key milestones in the process. It is important to note that approval triggers the beginning of these renewal messages, and the approval status on renewal offers is to be set by the management team within the PMS.
Approved
In order to begin the renewal notification process with EliseAI, you must first set the resident's renewal lease to an Approved status within your PMS. As soon as this is pulled over in a daily sync, we will begin to send out the approved renewal messages, which ask the resident if they are looking to renew while including the best offer.
The best offer is based on the lowest price, and if multiple terms share that price, the longest lease is chosen. For example, if 1 month is $850, 6 months is $900, and 12 months is $900, the best offer is 1 month at $850. But if 1 month is $950 while 6 and 12 months are $900, the best offer is 12 months at $900.
Once the resident responds, either with a verbal indication of vacating or a renewal acceptance, two things can happen.
1. Indication of vacating: In this case, a notice to vacate task is generated in the Tasks section of the AI Portal. The Notice To Vacate task includes a dropdown with the following options:
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- Residents would like to renew
- Residents have informed that they will not renew and were put on notice in [YOUR PMS]
- Residents have been sent a notice to vacate form
- Notice to vacate form is pending approval from multiple leaseholders
- Residents will transition to a month-to-month lease
- Other — please specify in comments (in this case, comments refers to internal notes in a resident conversation)
In order to process the notice to vacate task, your management team must manually change the status in their PMS to indicate that notice has been given. This will stop the AI from sending renewal messages and allow your team to send over a notice to vacate document for signature or inform the resident(s) to sign in person.
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- Note: This step is very important! The AI will continue to send renewal messages if you do not complete this step.
2. Indication of renewal: In this case, the AI pushes an update of the Selected status to the PMS for that resident’s renewal. Now, the resident will begin to receive messages regarding lease signing. Next, the management team must send over a lease document or provide it within a third-party resident portal.
Once the lease is signed, the management team should select the Scheduled status in their PMS. This changes resident notifications to pre-move in messages and onboards the resident for their next lease term.
Selected
Once the resident selects a renewal offer, the Selected status is pushed to the PMS. From here, the resident will begin to receive reminders to sign their soon-to-come lease. This lease must be generated and sent over by the management team in the conversation or provided by a third-party portal. Once the management team has confirmed the lease signature, they should manually change the resident's status within their PMS to the Scheduled status.
Scheduled
Once the resident is on the Scheduled status, they will begin to receive pre-move-in communication, and they should be all set up with their new lease!
Notice to Vacate eDoc Automation
If you are interested in setting up an automated process which sends an eDoc once the resident provides intent to vacate, please reach out to our support team for details on how to get set up.
With this setup, Elise will automatically send the notice-to-vacate document, collect the required resident information and signatures, follow up until all parties have signed, and then send the completed document to the responsible POC for countersignature.
Daily Renewal Reports
For up-to-date community level information on renewals, property managers will receive daily email notifications including offers sent, offers selected, leases that need to be generated, and agent responses required.
Renewals Settings
Renewals configurations for buildings are managed as settings within AI Portal. To update Renewal settings, navigate to Settings > Resident > Renewals.
Renewal settings ensure that communications surrounding renewals are provided accurately to your residents. Settings can be configured both portfolio-wide (organization level) or at a community level. Changes in the Default Settings view apply to all communities unless community-specific settings are enabled. To adjust settings for a specific community, select the community from the left sidebar.
Note that only Organization Admins can edit Renewal settings.
Configure a Community
When selecting a community, the settings page will contain the same customizable fields as the default view. These fields will only impact the selected community.
Initially the fields will be grayed out with a toggle beside them. This toggle denotes that the field is inheriting settings from the organization. To disable this, select the toggle and the box will allow for configuration.
Within the page, there are three main areas to configure for collections.
- Notice to Vacate: All organizations and communities must denote the number of days required to provide a notice to vacate to ensure proper AI communication.
- Renewal Negotiation: If enabled, the AI will be able to offer other terms to the resident that have been loaded into the residents list of offers.
- Required Information for Notice to Vacate: If enabled, the AI will require residents to provide answers for all fields marked "Yes" before proceeding with the Notice to Vacate flow.