It’s Time to Give Residents a Better Renewal Experience

In property management, the focus on resident acquisition is intense. Communities go above and beyond to create a great first impression, offering sleek tours, impressive move-in packages, and personalized communication. From the moment a resident steps foot on the property, there’s a clear commitment to delivering an exceptional experience. But what happens when it’s time to renew that lease? Far too often, the experience is underwhelming.

While initial impressions are important, the experience at renewal is just as crucial—if not more. Residents decide whether they’ll stay or go based on how valued they feel as long-term members of the community. Yet, many properties offer a clunky, stressful, and outdated renewal process that can tarnish much of the goodwill built during the lease term. It’s time to give residents a better experience when they’re asked to stay for another year.

The Effort to Acquire—But What About Retain?

Property management teams put immense resources into acquiring new residents. From creative marketing strategies to competitive pricing, the goal is to make the community as appealing as possible. But when it comes time for renewal, residents often feel like the efforts made during acquisition were a one-time thing. Renewals, handled poorly, come across as an afterthought.

Consider the experience of Sara, a real-life resident of a top-tier management company property in the western U.S. . . .

“Oh, my gosh . . . I had so much great technology at my fingertips, from the search process to the move-in process and my resident app and portal. But when it came time for me to renew, it was the jankiest process ever! I got an email with an attached letter that looked like it had been cut and pasted a thousand times with no way for me to sign a lease renewal other than to go into the office. I thought, do they really even want me to renew?”

Many property managers still rely on outdated methods like Sara described—such as manual paper notices, pdf’s attached to emails or something dropped in a portal, and limited communication. Residents often find themselves confused or frustrated by the process, wondering why such a modern property has such an outdated renewal experience. In a world where nearly everything is digital and user-friendly, this kind of renewal process feels out of place, leaving residents with a bad taste and, often, looking for better alternatives elsewhere.

The Stress of the Renewal Process

Consider how stressful lease renewals can be for residents. Unlike the excitement of moving in, renewing often feels like a disconnected experience and only left with a binary outcome. Stay or give your notice. This doesn’t foster loyalty.

Residents often don’t have the tools to make a nuanced decision. Such as options beyond signing another fixed-term lease? A larger apartment or a smaller one? What if they need to make a crosstown move? Do they have to go back to the ILS world to find what they need? Your community and your portfolio should offer more than a binary response. Renew a resident. Not just the lease.

A Shift in Mindset: Renewal as an Opportunity

What if the renewal process was seen not as an administrative necessity but as an opportunity to further invest in your residents? Renewal should be a chance to show how much the community values them. A smooth, transparent, and thoughtful renewal process can reinforce the idea that residents are appreciated and that their continued presence is desired.

To give residents a better renewal experience, property management teams need to shift their mindset and treat the renewal period with as much care as they do the move-in period. This means prioritizing communication, offering clarity on rent changes, and providing personalized service to those who are in need.

A Seamless, Modern Experience Is Expected

Residents live in a digital-first world. They expect easy-to-use platforms for paying rent, submitting maintenance requests, and managing other day-to-day tasks. So why is the renewal process still so outdated? Slow, manual processes that require residents to contact the office, reviewing options on a pdf or wait for responses feel completely out of step with their expectations.

Imagine if the renewal process was as easy as a few clicks, where residents could review their options beyond the tradition and finalize their decision without ever stepping foot into the leasing office. By offering a digital, streamlined solution, property managers can eliminate the pain points of the renewal process and make it feel seamless and modern—just like residents expect.

Personalization and Communication Go a Long Way

Personalized communication should be at the heart of any renewal strategy. Rather than sending out the same generic renewal notices to all residents, tailor your messaging to reflect the individual’s experience. Acknowledge how long they’ve lived in the community, highlight their contributions, and offer them something meaningful for staying.

The renewal offer shouldn’t just be a price increase and a date. It should be an invitation to continue being part of a community they’ve helped shape. Offering early renewal incentives, flexible lease terms, or even personal engagement from the management team can go a long way in showing that you’re invested in them, not just their rent check. With the right technology, like ,  you can automate the routine and humanize the exception. Getting back to service and removing the rote tasks.

The Value of Resident Retention

It’s worth remembering that resident retention is not just a matter of avoiding turnover. Retained residents are more likely to recommend the community to others, offer feedback that can improve operations, and create a stable, long-term living environment. Happy residents who feel appreciated at every stage—from move-in to renewal—are more likely to stay and become advocates for the community.

The cost of acquiring a new resident is much higher than keeping an existing one. According to the , customer retention is more cost-effective than acquisition in the multifamily housing sector. Additionally,  that each move-out can cost over $4,000, encompassing expenses such as vacancy loss, concessions, marketing, and maintenance.

So, the effort put into creating a great renewal experience pays off not only in resident satisfaction but also in financial stability for the property.

It’s Time for a Change

In a world where customer experience is king, property management needs to look beyond just acquiring new residents. The way you treat current residents when it comes time to renew can have a profound impact on retention, reputation, and overall property performance.

It’s time to give residents the experience they deserve when it’s time to renew. An easy, transparent, and resident-friendly renewal process doesn’t just benefit your residents—it benefits your property, your team, and your bottom line. The effort to retain should be just as strong as the effort to acquire, and the renewal process is where that investment should start.