The cheapest tenant is the one you keep
A turnover means vacancy, make-ready costs, and a new placement. Retaining a reliable tenant avoids all of it, so renewals deserve real attention, not an afterthought.
Start the conversation early
Reach out well before the lease ends. A simple, friendly check-in signals you value the tenant and gives time to agree on terms without pressure.
Price the renewal sensibly
A modest, market-aware increase usually beats pushing for top dollar and triggering a move-out. Compare the small rent gain against the full cost of turnover before you decide.
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