The 8-Step Lease Renewal Process Every Property Owner Should Know

Mat Zalk is the President and Property Manager at Keyrenter Property Management, which has offices in Tulsa, Oklahoma City, and Arkansas. He focuses on the acquisition and management of single and multi-family residential properties on behalf of himself and a small network of investors.

Before founding Keyrenter Tulsa, Mat was a Strategy Director at The Property Finder Group, where he worked closely with the CEO and senior management team on various international acquisitions, scaled local teams in the group’s Saudi Arabia and Egypt offices, and executed a number of strategic projects in the core business market of Dubai. Mat has been an active investor since 2014 and is a licensed real estate agent in Oklahoma.

In this episode…

Lease renewals can be a tricky balancing act for property owners. Should you increase rents to keep up with rising costs or keep them flat to retain a good tenant? And how do you ensure the process runs smoothly without risking vacancies or miscommunication?

According to Mat Zalk, a proactive lease renewal strategy ensures stability for both tenants and owners. He highlights the importance of starting the process 90 days before lease expiration to provide ample time for planning, communication, and decision-making. This timeline allows owners to weigh factors like market rates and tenant quality while giving tenants the clarity they need to make informed choices. By following a structured approach, property owners can align renewal schedules with peak leasing seasons, retain good tenants, and minimize costly turnover.

In this episode of The Same Day Podcast, Mat Zalk explains the eight-step lease renewal process that every property owner should master. He discusses why aligning lease terms with peak rental seasons is critical, the importance of incremental rent increases, and how early communication can prevent unexpected vacancies. Mat also shares strategies for balancing tenant retention with ROI growth.