How to Renew Your Lease in 7 Simple Steps [2024]

Finding a perfect apartment is not easy and requires significant amounts of time and effort. Once you’ve found your dream rental that has just the right amount of sunshine, is located in a great neighborhood, and boasts all the amenities you’ve been looking for, you better do everything in your power to keep it!

To make sure that your home stays with you, remember to renew your lease before the end of your tenancy. To help you secure your apartment, we outlined some steps you need to follow for a successful lease renewal.

How to Renew a Lease

What Is Lease Renewal?

Lease renewal is your chance to extend your stay in a property beyond the initial lease term. This legally binding agreement between you and your landlord outlines the new terms, often including adjusted rent and updated duration. It offers stability for both parties: you get continued residency, and your landlord secures consistent income and a reliable tenant.

Whether renewing is the right choice depends on your needs and negotiation skills, so weigh the pros and cons carefully before signing on the dotted line.

1. Read through the renewal release letter.

The first step of any renewal is to read through your lease renewal letter. This document is typically sent by your landlord 30-60 days before your current lease ends, serves as the official starting point. It outlines the key details of the proposed renewal, including the new lease term, rent amount (potentially with an increase), and any changes to existing terms.

Reading it carefully is crucial for several reasons. Firstly, it clarifies your options and allows you to compare them to your priorities and market research. Secondly, it highlights any potential changes you need to understand and negotiate on, if applicable.

By thoroughly reviewing the letter, you equip yourself with the knowledge and leverage to make informed decisions throughout the renewal process, ensuring it aligns with your best interests. So, before taking any further steps, prioritize deciphering your lease renewal letter - it's your roadmap to navigating a smooth and informed renewal journey.

2. Carefully read your rental agreement and renewing rights.

Knowing the ins and outs of your lease renewal process is crucial for a smooth transition. While the specifics will vary depending on your individual agreement, many leases follow a similar basic structure.

1. Understand the Timeframes: Don't wait until the last minute! Most leases outline a specific timeframe for notifying your landlord of your renewal decision. This is typically 30-60 days before your lease ends, but double-check your lease for the exact deadline to avoid any potential penalties or missed opportunities. Month-to-month leases and short term leases in particular may have unique timeframes.
2. Communicate Early and Clearly: Whether you plan to renew or move on, notifying your landlord well in advance shows courtesy and helps them plan accordingly. If you're interested in renewing, early communication might even give you leverage to negotiate terms or secure a better offer.
3. Know Your Options: Beyond a simple yes or no, your lease renewal might offer additional options. Explore possibilities like requesting shorter lease terms, negotiating rent adjustments, or discussing minor repairs before signing on the dotted line.

3. Optional: Negotiate with your landlord.

Your landlord or property manager might not want to disclose it, but they are normally interested in you renewing the lease. It helps them avoid costs associated with cleaning and repairs, finding a new tenant, background checks and possible loss of rental income in between tenants. Apart from that, finding good tenants requires significant time investment and commitment.

We wrote a separate guide to negotiating rent, so check that out if you want to learn more. Here are the highlights:

• Know your market: Research average rental rates for similar units in your area. Use trusted websites like Zumper, Apartment List, or Trulia.
• Review your lease: Understand any clauses related to rent increases or renewal procedures.
• Be a model tenant: Highlight your on-time rent payments, responsible behavior, and any positive contributions to the building community.
• Approach early: Initiate the conversation well before the renewal deadline, not right at the last minute.
• Be respectful and professional: Focus on facts and maintain a positive and solution-oriented approach.
• Present your case: Clearly state your desired rent and back it up with your research and evidence.
• Be open to compromise: Don't expect to get your exact target, but aim for a mutually agreeable solution.
• Express your willingness to stay: Emphasize your desire to remain a tenant and the benefits you bring to the community.
• Walk away if necessary: If negotiations stall or the offer is unreasonable, be prepared to move on. Explore other rental options while keeping the door open for potential last-minute agreements with your current landlord.

4. Make a decision whether you want to renew your lease.

Once you’ve talked to your landlord, compare their terms with industry standards. If they decide to increase your rent, check market rental rates for similar apartments in your area and factor in potential moving costs to make an informed decision on whether to renew your lease or move out.

5. Sign the lease renewal letter.

If you decided to stay with your landlord, you will have to sign the letter to renew your lease. The letter should contain any terms or arrangements you negotiated with your landlord or property manager. If they agreed to change your refrigerator or allow you to get a pet, make sure it is mentioned in your lease renewal letter.

6. Carefully study your new lease.

Once you receive the new lease, read it carefully to make sure that your new rental agreement is updated with all agreed-upon terms and conditions. Always read the fine print.

7. Mark the new lease's termination date on your calendar.

Make sure you note the new renewal date on your calendar so you are as equally prepared next time!

Looking for a New Apartment?

If you decide renewal isn't for you, then you might need help finding a new apartment.

Our tools ask you to outline the amenities you want and the budget you have, and then we do the rest by matching you with great places in your desired location. You can also flex your amenities, budget, or area in order to get more options. Take our easy quiz to get started!

Lease Renewal FAQs

Can a landlord refuse to renew a lease?

It depends on your state, but in many cases, landlords are able to refuse a lease renewal without giving any reason. In some exceptions, like New Jersey, landlords must have good cause to refuse a lease renewal.

How much does it cost to renew a lease?

In most cases, there is no additional fee associated with renewing a lease. Many renewals will occur without any changes to the lease at all, though increases or decreases in rent can also occur with renewals.

What if I don't want to renew my lease?

If you don't want to renew your lease, you should let your landlord. There's a formal process for announcing your intent to move, and you can read more about that process in our guide to submitting a notice to vacate.

Once you've decided not to renew, you're also free to start looking for new places! Try Apartment List's tools to help you find your next home.