What Happens When Your Lease is Up?

This post, "What Happens When Your Lease Is Up?" was originally published on the Apartments.com Renterverse in 2019.

Signing papers at a table

When your lease is up, you will have the chance to opt for a lease renewal, which means that at the end of your lease term, both you and your property manager agree to renew the lease. The property manager will create a new lease with similar terms to that of the original, and both you and the property manager (and any of your roommates who are also choosing to renew) will need to sign this new contract. 

What is the process for a lease renewal?

After you’ve been notified by your property manager – 30 to 60 days in advance – of your impending end date, it will be time for you to make a choice. If you  choose to renew your lease, then you will need to provide your property manager with written notice of this decision. An email or letter will do the trick – ask your leasing office which form of notice they prefer. But just because your lease is renewing doesn’t mean that your rent is staying the same.

Moving into a New Apartment 

If you’ve opted out of both a lease renewal and a month-to-month rental agreement, then your final option is to move out of your current apartment and find a new rental. Whether your rent is increasing too much for you to renew, month-to-month leasing is out of your budget, or you simply want to look for a new place, we have you covered when you’re ready to find your new apartment! But before you begin your search, make sure that you provide your property manager or landlord with a written notice to vacate letter at least 30 or 60 days prior to the end of your lease, depending on the terms of your lease.

When you move out of your apartment after your lease is up, you can expect to possibly receive money back from your security deposit and your pet deposit (if you paid one), depending if the apartment is left free of damage. Anything that you paid titled with “fee” before you moved in is nonrefundable, so don’t anticipate receiving that money after you move out. But how exactly do you get your security deposit (or any deposit) back after you move out of your apartment?

Published September 19, 2019

ABOUT THE AUTHOR

Hi, I'm Megan Bullock, a seasoned writer with years of experience in both sides of the rental industry. I focus on answering your questions about renting, as well as property ownership and management, in the hopes of making life as a renter or a landlord a bit easier.