Renewal Offer

Glossary

A renewal offer is the lease-extension proposal sent to a current resident, including rent, term options, deadlines, and next steps.

Definition

A renewal offer is the set of lease-extension terms presented to a current resident before their existing lease expires. It typically includes the proposed or updated rent, available lease term options, deadlines, and any changes to the resident’s agreement. The offer starts the resident’s renewal decision process and may move through workflow statuses such as No Offer, Selected, Offer Expired, Scheduled, or Renewed; in the cited workflow, Scheduled means the resident has signed the renewal and the organization has confirmed the signature.

Example

A community has 40 leases expiring in 90 days. The central renewals team prepares renewal offers with fixed-term and month-to-month pricing, sends them through the resident portal, and the onsite team follows up with residents who have questions or want to discuss the rent change.

Why It Matters?

Renewal offers directly affect resident retention and expiring-lease follow-up. Clear offers help teams explain rent changes, track resident responses or stated renewal intent, and engage residents before they give notice to vacate. At portfolio scale, consistent renewal-offer workflows also help operators separate offer generation, reminders, negotiation, and lease execution responsibilities.

‹ Renewal execution

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