Property Termination:
STEP 1: RETENTION
If any owner wants to terminate any property, we must act IMMEDIATELY to try to retain the owner. The retention is handled by the managers. So you need to escalate this to the respective manager to try to retain the owner, and for tracking purpose also add it to zoho Escalations.
If the owner wants to terminate because the property has been lying vacant for a long time, please assign the EScalation to the Sales manager. Ensure the Sales manager calls the customer within 24 hours. If this doesn't happen, please escalate to the next level.
If the owner wants to terminate for any OTHER reasone=, please assign the EScalation to the Operations manager. Ensure the manager calls the customer within 24 hours. If this doesn't happen, please escalate to the next level.
STEP 2: Update Zoho -> Termination Notice
If the manager has managed to retain the owner, you can close the Escalation.
If the manager has failed to retain the owner, then please inform management/Directors, and update the notice to vacate in zoho. This is under Property-Contracts, where you have to update 3 fields:
TermNoticeDate - this is the date in which the owner gave us the notice
TermReasonNotes - this is the reason he wants to terminate
TermDate - this is the date in which the owner expects the property to be terminated. This date depends on the agreement and if the property is tenanted or vacant. The owner needs to give us a notice of 1 month for vacant properties and 3 months for tenanted properties. But please check the specific Property Management signed agreement to check this notice period.
STEP 3: Vacate notice to tenant (if tenanted)
IF the property is tenanted, you need to give a vacate notice to the tenant. Please see the Tenant Termination section.
STEP 4: Update Zoho -> Accounting Corrections
Check the Accounting Balance to see if we need to collect anything from the owner or pay him any dues.
The owner may need to pay us Termination/Cancellation/
Update all these details in the Accounting Corrections, and put the termination Date when we need to terminate the property.
STep 5: Return Keys
If all accounts have been cleared, we can return the keys to the owner once its vacant