Submit Counter streamlines negotiations by allowing countered terms for rent, move-in date, lease length, or promotions
Alcove's Submit Counter feature allows landlords to propose specific changes to lease terms quickly and efficiently, reducing back-and-forth negotiations and preserving applicants' progress. Alcove dynamically calculates constraints, such as maximum & minimum rent adjustments and availability dates, so landlords can make counter offers accurately and fairly.
During the counter process, Alcove automatically generates a new lease agreement with the updated details for the landlord's approval, which eliminates any manual errors and saves time for both sides.
A counter offer is only submitted after the landlord signs the lease approval, so applicants only receive notifications of the new lease terms after the landlord has finalized their portion of the lease document.
As shown in the screenshot of the Submit Counter process below, landlords can counter based on 4 factors:
- Rent Amount
- Move-in Date
- Lease Length
- Lease Promotions
Submit Counter View on Leases & Tenants
Parameters for countering terms:
1. Rent Amount: Counterable if the current amount is below the landlord’s configured asking price due to Smart Pricing.
- If the rent is already at the landlord's original asking price, it cannot be countered.
- Rent increases through counters are capped at $100 and cannot exceed the asking price.
- If the rent was manually set by the landlord or the Alcove Partner team, it is not eligible for counters.
2. Move-in Date: Adjustments to move-in dates are allowed for new leases, provided they fall within the unit’s availability.
- Move-in dates cannot be countered for renewal applications.
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- If the rent was manually input, lease length adjustments are not permitted.
- If the lease length to less than 12 months, Short Term Premiums will apply, potentially increasing the platform fee.
- Conversely, if the lease length is extended to 12 months or longer, Short Term Premiums will be eliminated, potentially decreasing the platform fee.
- Lease length adjustments must also fit the home & bedroom's availability.
4. Promotions: Promotions can only be added if none have been previously applied.
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- Existing promotions, whether added by the landlord or by Alcove, cannot be modified or removed.
What Happens After a Landlord Submits a Counter?
A counter offer is not officially submitted until the landlord signs the lease approval document. Once the counter is signed and submitted, the following steps occur:
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Applicants will receive an email notifying them that their lease is ready to sign, along with a note indicating that the terms have been countered.
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On the Alcove platform, they can view both the updated terms and the original terms for comparison.
- From there, the applicants options are:
- Accept and Sign: Applicants can countersign the document and pay the deposit to finalize their lease.
- Decline the Counter: Applicants can choose to decline the counter offer. If they provide a reason, it will be displayed in the Deactivated Applicant section of the Leases & Tenants page.
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Deactivated Applicants tab within Leases & Tenants
If the counter terms are entered but the lease approval document is not signed, the application remains in a “Counter Incomplete” status. Landlords can return to the portal at any time to complete the signing process and finalize the counter offer.
Counter Incomplete badge on Leases & Tenants
Landlord Submit Counter FAQs:
Can I submit counters multiple times on one application?
No, only one counter can be submitted per application. If you wish to make additional changes, you must deactivate the application, specify that terms have been updated, and wait for the applicant to reapply.
To prevent repeated adjustments, update your Listing Configuration with the new terms before the applicant reapplies.
How does countering work for renewals?
Renewals can be countered if:
- Rent price is auto-decreased using Smart Pricing.
- Lease length is adjustable within the property’s availability. Move-in dates cannot be countered for renewals.
What happens if the applicant declines the countered terms?
Applicants can view the countered and original terms. If they choose to deactivate the application, they can specify that the countered terms were the reason.
Are counters available for legacy properties?
No, counters are disabled for legacy model properties.
If you are a current homeowner or property manager seeking assistance in submitting a couter to an applicant, please reach out to our partner support team at partner@alcoverooms.com for support.