Why does the first renewal feel like a jump?
If you moved into a new building with one of the current specials on our board, your first renewal offer will likely look high. Renewals price from base rent, not the discounted year. After 8 weeks free on 12 months, year two at the same base runs about 18% above year one. Our guide on why year two costs more shows the math.
The jump isn’t a surprise if you plan for it. The goal at renewal is to compare your offer with what the same money buys today, including specials at nearby buildings, and decide calmly.
When do you start?
Start at month 10 of a 12-month lease. That gives you time before the notice window closes. Many Texas leases ask for 30 to 60 days’ written notice to vacate, and some renew automatically if you don’t respond. Find the renewal section in your lease and note the date.
We run a Renewal Check at month 10 for renters we’ve placed. It’s a short report with your offer, current comps, and our read on the options.
What goes into the comparison?
| Line | Your renewal | A nearby new building |
|---|---|---|
| Base rent | From your offer | From the board |
| Special | Usually none | Current special, confirmed |
| Net effective | Same as base if no special | After the special |
| Required fees | From your current fee sheet | From their fee sheet |
| Moving costs | $0 | Movers, deposits, overlap |
| True monthly | Base + fees | Net effective + fees |
Compare true monthly, then add moving costs to the new building’s side. If the gap is small, staying usually wins. If it’s large, moving may be worth it.
What are your options, in order?
1. Renew as offered. If the offer is close to nearby true monthly prices, renewing keeps things simple and avoids moving costs.
2. Counter. Ask the office whether they can adjust. You might ask about a lower increase, a longer term at the same rate, or a concession on renewal. Share dated comps, calmly. The community decides.
3. Move. If a nearby building’s true monthly, plus moving costs, is clearly lower, moving may make sense. Give written notice in the window, and line up your move-in date so you don’t pay double rent for long.
Ask early, in writing
A counter sent at month 10, with dated comps, gives the office time to respond before your notice window closes.
What should you check in the renewal offer?
- The term. 12 months, or a different length at a different rate?
- Required fees. Some fees are repriced at renewal. Ask for the current fee sheet.
- Any special. Some communities offer a small renewal concession. Ask.
- The deadline. When does the offer expire, and what happens if you don’t sign?
A labeled renewal comparison
Here’s how the comparison might look with made-up numbers, to show the steps.
| Line | Renew | Move to a nearby new building |
|---|---|---|
| Base rent | $1,380 | $1,350 |
| Special | None | 6 weeks free on 12 months |
| Year-one rent, monthly | $1,380 | about $1,194 |
| Required fees | $106 | $110 |
| Monthly total | $1,486 | about $1,304 |
| Moving costs spread over 12 months | $0 | about $100 |
| Effective monthly | $1,486 | about $1,404 |
In this example, moving costs less in the next year, but the new building’s year two would start from its $1,350 base. Over two years, the gap narrows. That’s why we show both years before you decide.
If you’d rather stay, a dated comparison like this one is a calm way to start a conversation with the office.
What happens next?
If you’d like a Renewal Check, request a Renewal Check with your renewal offer and current fee sheet. We’ll send current comps and the true monthly comparison, usually within a few hours during our hours.
