I know it’s obvious, but the renewal conversation shouldn’t be a last-minute scramble. What is the proper lead time? Some would argue it starts at move-in. Others, 90 days. Some would say it’s too far out, and you give residents a prompt to consider moving, while others would say knowing ahead of time helps head off move-outs. All of this in mind, I think it’s a blend of all time and touchpoints. Let’s agree it’s a little bit of art and a little bit of science. But starting a formal renewal communication process 120 days out gives residents time to think and your team time to plan.
Tip: Develop a Renewal Communication Process and Automate.
Early outreach communicates confidence and stability. If you’re investing CapEx in upgraded amenities, share the improvements, and offer flexible lease terms. Really highlight value beyond price. When residents feel seen and supported, they respond with loyalty.
Renewals handled early protect both occupancy and pricing power. You’re strengthening the relationship before it becomes a negotiation.
Tomorrow’s tip: The Renewal Script That Beats Discounts.
— Mike Brewer