A lease renewal is a new lease agreement that’s made when a lease term has expired. Morgenson Realty has lease expiration dates between the months of April-October. All leases are broken up throughout those months. Ensuring residents are not vacating all at the same time or during cold winter months.
When Does Your Lease Expire?
During a lease signing, you have the opportunity to agree to specific lease terms. This provides the dates for both moving in and moving out of your apartment. Typically, leases are for a period of 12 months. There are other communities that offer month-to-month leases too. Highlight your lease end date in your personal calendar, or wherever you will remember it in the future. You should also have a copy of your lease agreement. Refer back to that to find your lease expiration date.
Lease Renewal Communication
Our property managers contact each resident in advance. This contact happens 90 or even 120 days prior to the lease expiration date. Providing your apartment manager with notice at least 60 days prior, is a standard due date for most apartment complexes. Find out when you need to notify your apartment manager of your decision during your lease signing. If you have not communicated your choice to stay or move by the due date, your landlord may re-rent your apartment or your lease agreement may auto renew.
Renewing your lease does not always mean everything stays the same except expiration dates. Before committing to another year, chat with your property manager about any changes in this new lease term. Is your rent rate increasing? Are there any new rules or policies you should be updated on? Any changes should be reflected in a new lease agreement provided in writing.
Our communities offer free carpet cleanings to all residents staying with us for another year. This is a great way to say thank you and provide our residents a little “refresh”. Ask if your property management company extends perks to renewing residents, as well.
Update Your Info
A lease renewal meeting is a great time to update your info with your manager or landlord. Perhaps you’ve purchased a new car or changed your phone number. Minor maintenance items tend to topics of conversation at this time too. Try not to wait until the end of your lease to discuss outstanding maintenance concerns with your landlord. Checking the availability for minor touch-up paint or nail holes to be filled are both great examples of minor maintenance to mention.
How to Renew Your Lease
If you have decided to renew your lease and agree to any changes, it’s time to sign a new lease agreement. Residents at any one of our properties enjoy the convenience of receiving these documents electronically. Meeting in person or communicating any questions over the phone prior to signing is recommended. Never assume there are no changes to discuss. Read your new lease carefully. Take note of your expiration date and rent price.
If you have signed paper documents, make sure you’ve received a copy for your records. For our communities, signed leasing documents are uploaded to the tenant portal and can be accessed at any time.