prep for lease renewals

[Ann B.]

Hello BP Community. Can you share you what you do (if anything) leading up to lease renewals i.e. verifying information such as phone numbers, email, employment/income, inspection of unit and occupants?

For those who have a Property Management Company, what is included in your lease renewal fee and do you need to pay extra for certain services i.e. if you want a property inspection?

Thanks!

[Filipe Pereira]

We don't have a lease renewal fee at our property management company, and we're already doing inspections throughout the year, so we do not do a specific inspection during a lease renewal unless we have an area of concern @Ann B.

Before offering a lease renewal it's critical to do market research to make sure your rent increase is on par for the market.