There are two ways the staff in the leasing office can generate a new offer:
- Automatically, by generating it through their system;
- Manually, by submitting a request to the corporate financial office.
Automatic – System Generation
Anyone in the leasing office is able to do this, and you will know the results immediately.
Upon successfully getting a lower offer, it will last for seven (7) days.
The new rate is influenced by the full price of similar rental units. Some units are marked as “reduced price” and will not influence the offer that is generated.
Manual – Corporate Request
Only the community manager is able to submit this request.
The corporate finance officer works Mon - Fri, so you cannot get offers over the weekend. They respond quickly, so expect an offer by the end of the next business day.
Upon successfully getting a lower offer, it will last for two (2) days.
The new rate is influenced by the listed price of similar rental units (which includes those marked as “reduced price”), and the number of similar apartments available.
Examples / Anecdotes
I am in Plan G (2 bed / 2 bath). The renewal offer I received was $3,480.
Plan G is currently listed for $3,435 - $3,610. However, two of the units are marked as “reduced price”. By excluding those units, the price range becomes $3,475 - $3,610.
If I were to ask the leasing office for a new offer through the system, I would expect to get an offer of $3,475 - a mere $5 deduction. In my instance, I received an offer for $3,460 ($20 deduction), but the units available at the time may have been different from what I’m seeing right now.
I pursued the corporate request and received a rate of $3,395 - a $175 deduction from the renewal rate, and $40 lower than the lowest-listed rate for Plan G.
Let me know in the comments whether this information assisted you in securing a reduced renewal offer. Good luck!
