How do I renew my lease?

If your lease is set to expire soon, read more about what you can do to renew for another term.

Unless you are on a month-to-month lease, your lease will have a set expiration date or lease end date written into your lease agreement. To continue your residency, you may have the option to renew your lease for another term.

When will I hear about my renewal?

Our staff will reach out to you about your lease renewal options on the following schedule. Please note that if you are still waiting to hear from us in this timeframe, you may also contact us via. Email. 

1. 90+ days before the lease end date: Confirm Renewal Details
   1. Typically you will receive a text message or an email from our staff about 90 days before the end of your lease agreement asking you to confirm your account information. This will help us present the best options to you.
   2. You can fill out this form to ensure we have all the details needed for your renewal. 
2. >90 days before the lease end date: Offers Presented for Review
   1. On your tenant portal, AppFolio, you will receive 1+ offers with differing rates, terms, and options for you to select.
   2. All tenants must sign the same offer for the renewal to take effect. 
   3. All options will have an expiration date. Fixed-term offers must be signed before they can take effect.

Your offers will be located at the top of your portal and look something like this.

How long do I have to renew my lease?

Because renewal rent rates are tied to market rent rates, all offers have a deadline attached to them. Typically these deadlines will be at least 30 days, and ideally, we will attempt to give residents 90 days to review and sign their options. 

Your notifications and lease documents will indicate when these offers expire. You must sign a fixed option for these offers to take effect. Otherwise, your lease may auto-renew on a month-to-month basis with or without your signature. 

Will my rent increase?

With a renewal, you can expect that rents will more than likely increase. There are many reasons why this may occur, namely that the lease will be renewed to reflect market-rate rents, which will typically rise rather than fall. The goal of a Property Manager for the Property Owner is to get as close to market rent as possible, and therefore the rent will likely rise at renewal time. We cannot guarantee what the new rate will be before the offers are presented, as rates can vary depending on the timeframe in which they are presented.

What are my options for renewing my lease?

Your options may vary depending on your current lease agreement. Therefore, you should always consult the agreement first. In general, the following will typically be available to you:

1. Select an option and renew
   1. By signing one of the options available to you, you can lock in the offered rate and ensure you are renewed for another term. You'll receive one of the following offers:
      1. Month-to-Month: These leases are riskier as they allow not only the tenant but the owner to provide 30 days written notice to vacate at any time. Due to this, they are likely more expensive. Some accounts which have a history of delinquency may only receive this option. 
      2. Fixed Term: These leases are less risky as they guarantee the tenant will reside at the property for a set amount of time (in months). Typically, unless a request is made, a tenant will receive a 12-month option.
2. Provide notice to vacate
   
   1. You may choose not to renew at this time and vacate at the end of your current term.
3. Auto-renew
   1. If you choose not to act upon your options (i.e. you do not sign before the deadline) your lease will auto-renew on a month-to-month basis.