Hi, @michaelazer, and welcome to the Netlify community site. 
We have a topic about this here:
I’ll do my best to summarize what the topic above says.
We are the DNS service but the domain is still registered with Godaddy. If you register the domain using our web UI, only then can the renewal be handled by Netlify.
If you want to renew the domain, you’ll have to do so with the current registrar. Technically, there is another option. You can transfer it to a different registrar and renew it with the new company.
Again, we aren’t a registrar so the domain cannot be transferred to Netlify - only the DNS service can.
If you registered it with Netlify you’ll see “Registered through Netlify” at the top of the DNS zone configuration page. If it is registered with someone else, the top of the page says "
Registered through an external provider".
If there are other questions about this, please let us know.