Renewal Information
Hi! You’re here because you are considering renewing your lease with us, and that’s great to hear. We take it as a compliment when you want to stay longer with us.
One of our goals is to reduce folks moving in and out too often, if we can. We like to think that staying longer means you are happy with your home, and that you find it affordable enough, convenient, and functional. We send out renewal offers this time of year with a significant discount off what we will list the units for later to see if we can give all of you an incentive to renew early. This reduces showings (takes us time, and is inconvenient for the resident) and helps us save time and money during move-in and move-out. It’s part of what allows us to offer rents at least 7% below market each year. We’ve found this helps retain people longer, especially since the discount continues to grow each year (we base rents off of the amount you started with).
We work hard to be transparent which is why we share both local market pricing and where your units fall in the market (these numbers are in the texts you will receive soon). Keep in mind that each number is based on an aggregate formula that takes into account location, amenities, square footage, parking availability and any included utilities such as heat or water.
We are a small company and do not have a huge internet advertising budget. Word of mouth usually works best for us. We love honest reviews! We also are offering a $100 finder’s reward for providing the phone number and contact information for a new incoming resident that signs a lease and puts down their deposit. This stacks for as many leases as you bring us. We’d love to find housing for your family and friends!
Common Questions and FYI:
- PLEASE do not wait if you think you might be interested. We have a waiting list and people ready to take certain apartments already, and on Oct 16th many of our units disappear. we are typically 75% rented by the end of October. I know that might sound pushy, but I promise that’s not what our intent is. I always have to make October phone calls to disappointed co-signers and parents who lost their apartment.
- You will need to resign by Oct 15th in order to lock in the renewal rate. For many of you who have been with us several years, the total savings can be well over 10%. It will be a new lease, but if you are staying in the same unit, your deposit will stay the same (meaning you don’t need to make a new one). Any new roommates will change that very slightly (usually a few dollars).
- You don’t all need to renew on your lease. Often several roommates continue forward and fill another slot later. We’ve actually never had someone fail to find another person to fill in.
- If you want a smaller apartment with us, we will still give you the renewal rate for those units. If you are looking for 1 bedrooms, I know for a fact we will have at least two available at 29 West Daniels Street that are not yet spoken for.
I hope we will have the opportunity to provide housing for you again next year!
All the best,
Cody, Eric, Richard, Catherine and Tim, your Nazca Properties team