My current AP expires in August and am thinking about booking a trip for November. Will I not be able to book any park reservations until I renew my AP when it expires on August
My guess would be yes...just as new AP vouchers can make park reservations before they're activated, because they're on file. If you have a renewal voucher on file, I would think that would count. But it's worth calling to check.
A renewal AP starts on the day of your current expiration, it will be active. You will be able to make park reservations (given that you go ahead and renew).
ETA: I don't know how DVC Sorceror's Pass renewals work anymore. Since the website seems to detect "DVC-Y" can they actually be renewed online (thus not needing to do the voucher stuff anymore)? We have the incredi-pass since we always go either T'giving or Xmas.
Regardless once you renew you'll be able to make park reservations.