Owners and managers want great residents. So when you come to the end of your apartment or rental home lease, there are things you can do to make the renewal easier, and maybe even save money.
It’s important to check your lease about 90 days before your renewal and start putting together a strategy for how you plan to stay in your home.
- Timing can count: Don’t wait until the last minute to
begin the conversation with your owner or manager. Some leases require 60 days
notification. Get in front of this issue. If you want to stay in your place,
make an appointment to see your manager early to talk about renewing. Neither
of you will feel rushed and you’ll get a sense of the landlord’s interest in
continuing with your current rent or not.
- Do some homework: Check out pricing of comparable
communities near you. Do you pay more or less for something similar? If you are
paying a bit more and you want to extend, there might be room for negotiation.
Turning an apartment costs the management company money and most would rather
retain a good resident than have to invest in cleaning and marketing your home
to another family. Do the math for them and see if you can save a bit each
- Sign up for auto withdrawal or pay rent early: Owners and
managers love residents who pay on time or early. Prove that you are a reliable
renter who pays on time. Paying a couple of days early or via auto pay shows
you plan to stay.
- Offer to sign a longer lease: If you love your place, lock
it down for the upcoming year or for two years. Many homeowners and managers
will happily reduce the rent a little to have a reliable resident for the next
- Toot your own horn. If you have been a good resident,
remind your manager you are the kind of neighbor they want to stay.