Month to month rent cheaper than lease renewal?
I've rented at an apartment complex in Bellevue for 3 years now. My lease is up in September. I got an offer sheet from my office about a week ago. As expected, rates are going up a bit. No surprise, there. At the bottom of the offer, the expiration date of the offer is listed, along with the statement that, if no new lease is signed, upon expiration of the current one, my month to month rent will be the same as the monthly rate I pay on my current lease. I'm confused, though, because it's cheaper than the cheapest lease option in the offer sheet. What gives?