REAL ESTATE RENTAL FORM
Retention/Turnover/Marketing Forms

RENEW EARLY - SAVE MONEY

              Your current lease will expire within the next 90 to 120 days on _______________________. Each year your rent is adjusted, however, we let residents help determine how much the rent increase will be. For the upcoming year, your rent increase will be between $10.00 and 100.00. Again, the good news is that you get to determine if the rent increase will be small or large.  This increase is necessary because of increasing operational expenses, taxes, and utilities.  Because you are a 3 Star resident, we want to keep your increase to a minimum, so we encourage you to respond to this letter as soon as possible.  The rent increase will be small, only $10, if you renew your agreement early, however, the small increase of $10 is guaranteed only until the following date _____________, after which your rent is subject to an additional increase of $1.00 per day until you decide to extend your agreement, up until your anniversary date.

             The maximum rent increase is $100. Heres how you can save up to $90 off that increase. If you renew now, at least 90 days prior to your anniversary date, save $90 off your monthly rent increase. Instead of an increase of $100,  the increase is only $10 per month. If you wait and renew 60 days before your anniversary date, save $60, your increase will be $40 per month. Wait longer and renew 30 days prior to your anniversary, you save $30, making your rent increase $70 per month. As you can see, the earlier you renew your agreement, the more you save and the lower your rent increase will be.

             The reason we offer the savings is because the sooner we know if you will be staying in the property, the less we have to prepare to possibly advertise and re-rent the premises. The sooner we know, the easier you make our job and so we offer a greater savings for letting us know early.

             Please sign below and return this letter as soon as possible to the following address____________________________________________________ no later than _____________, to take advantage of the biggest rent savings and discount.  The date we actually receive this letter is the date we use to calculate your savings. We value your tenancy and hope you plan to stay and save as much as possible. After this letter is returned to us, well send back a copy for your records and an addendum to your rental agreement with the new rental rate. If you have any questions regarding your renewal savings, please call me at ______________________. Thank you for your cooperation.

Yes, I wish to renew/extend my lease an additional year. I also wish to save as much money as possible on the rent increase. My goal is to that you receive this letter at least ______ days before my anniversary date, so I can reduce my monthly rent increase by that same amount.

Residents signature ___________________________________

Owner's signature _____________________________________

Date received _________________