A lease renewal comparison estimates whether it may be more profitable to renew the current resident or turn the property and lease it to someone new. It compares rental income against vacancy loss, turnover costs, leasing fees, and other expenses.

Not always, but it often depends on the numbers. If the resident pays on time, takes care of the home, and agrees to a fair renewal rate, renewing may help reduce vacancy and turnover costs. However, if the rent is far below market, re-leasing may be worth considering.

You should include estimated vacancy loss, cleaning, repairs, maintenance, marketing costs, leasing fees, utility costs during vacancy, and any upgrades needed before the property can be rented again.

Vacancy days depend on the property, location, rental price, season, and market demand. Many owners use a conservative estimate so they can better understand the financial risk of turnover.

Yes. A rent increase that is too aggressive may cause a good resident to move out. If that happens, the owner may lose more through vacancy and turnover costs than they would have gained from the rent increase.

Yes. Nestwell Property Management helps Utah rental property owners evaluate market rent, resident history, property condition, and owner goals when making lease renewal recommendations.