Explanation of Our Lease Renewal Process

Have a question about this part of our lease?

(This means we might ask you in the fall if you would like to renew your lease for the following year) Language required by City of Ithaca: “By initialing here ____, ____, ____, ____, ____, ____ I fully understand and willingly waive my rights to 120 days’ written notice in advance pursuant to Ithaca City Code § 258-10: Renewal of Rental Agreements; Notification to Tenants

Here is the explanation:

Most of our leases end and begin in July and August. In October/November we usually ask renters if they already know their plans for the upcoming year.

If renters already know they will move away from Ithaca at the end of their lease, they often let us know that. If renters already know they would like to renew, we start that process for them.

When renters renew in the fall, we usually give them a lower rental price than we offer for the same apartment in the spring. So it is often advantageous for you to decide early.

If you are renting a 1 or 2 bedroom apartment from us and you do not know your plan for the upcoming year by October/November, we generally just ask you again around January and go from there.

If you are renting a 3+ bedroom apartment from us, we might start asking about your lease renewal plans as early as September.