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Redwood Living, Inc. expands flexible lease offerings to include long-term, 24-month option
Independence, Ohio – November 16, 2020 – Independence-based developer and owner of single-story apartment homes, Redwood Living Inc. (Redwood), has introduced a 24-month leasing option for residents looking to plan for long-term living arrangements.
While a 1-year lease is generally considered the industry standard, Redwood’s range of lease offerings aim to meet the needs of its residents’ varying lifestyles. Redwood’s offering now includes:
The 24-month lease offers residents the ability to plan rent payments over a longer period of time. When signing a 24-month lease, residents lock in pricing for 12 months and can plan for a below-average 3 percent rent increase for the subsequent 12 months.
• Long-Term Leases (24-months). Ideal for individuals who like to plan and budget. These residents have no short-term plans to move again and can thus enjoy the chance to settle in, customize their homes and build relationships in their community. Redwood has responded to resident demand for an even longer-term arrangement with the new 24-month option, a rare opportunity in the multifamily industry.
• 12-Month Leases. The most common offering in apartment leasing, a 12-month lease provides residents time to settle in with the flexibility to move when needed. Many people choose this lease when they might switch jobs or have other reasons to relocate the following year. Should a resident choose to stay, their rent in year two will be assessed based on property and market conditions and could increase upwards of 5-10 percent.
• Custom Options. Renters have the option to choose any lease duration between 6- and 15-months, offering flexibility and a quality home for those who only require a specific or limited stay. Shorter-term lease offerings allow residents to explore the neighborhood or take advantage of a short-duration lease while moving or building a home. A short-term lease might involve higher monthly fees.
“Renting with Redwood, whether it’s a short-term or long-term lease, offers the comforts of home with the perks of renting. There’s no reason to worry about maintenance, landscaping, snow removal and home ownership, so residents can focus on what really matters: living,” says Mike VanGelder, senior vice president of property operations at Redwood. “We offer such variety because we know living situations can vary and change, and we’re excited to be offering even more options for residents who choose to make our neighborhoods their home.”
Redwood owns and manages more than 12,000 apartment homes in nearly 100 neighborhoods throughout Ohio, Michigan, Indiana, Iowa, North Carolina and South Carolina.
Interview Opportunity with Redwood Living, Inc.
A Redwood team member is available for interviews upon request.