My apartment complex is currently below 100% occupancy.
They decide “We want to be at 100% occupancy,” so they offer a concession to new residents: 8 weeks free on a 12-month lease.
My lease is up for renewal. For me to renew, they are offering 6 weeks free on a 12-month lease.
Their position seems to be “It would be a hassle for you to move, so we don’t have to give you the same concession.” They also understand that if I move, there is a good chance that my higher-rent-than-almost-anywhere-in-Houston apartment will sit unoccupied for weeks before a new resident would move in (who will also get 8 weeks free).
If new residents were getting 6 weeks free, I wouldn’t have a problem renewing, but the fact that they’re offering a deal to new residents to reach 100% occupancy while not offering the same deal to keep current residents (whose continued business will keep them from dropping farther away from 100%) almost makes me want to move out on principle.
Am I being unnecessarily cheap here? Is my renewal worth less than a new lease (that they may have to pay a commission on after giving a new resident the larger concession)?
