Renewing your lease can seem like a
smart decision if it is time for the original lease to end and you would like
to stay in your current apartment for longer. But before you just sign on the
dotted line and renew the lease, there are a few things that you can consider
to make sure that you are all set up and ready to go. Some of the things to
read through when you receive your renewal letter from the landlord includes:
# Cost changes: It is possible that
the landlord is going to change the rent on you. Whether you were in the
apartment for a year or even a few years based on the original lease, the
landlord will come back and often raise the rent. This often falls between 2 to
5%, but it will depend on where you are and what the market is like at the
time. This is also something that you can negotiate too.
# Location convenience; Location is
going to be a big factor to consider when it is time to renew the lease. If
your office commute is short and you are close to some of the amenities and
places you like to frequent, then you will most likely what to stay there ad
not move. But if you have had to switch jobs or there has been some kind of
change in your lifestyle, it may make sense to move.
# Property condition: Before you
renew the lease, taking inventory of the property and the condition it is in
right now will be important. If the landlord or property manager did a bag job
of taking care of the place and didn’t keep up with maintenance, do you really
want to spend another year there and hope that it gets better?
# Your relationship with the
landlord: You will need to evaluate the relationship that you have with the
landlord to make sure it is good and that there will not be a lot of problems
along the way if you stay there. If it is a bad relationship, then moving may
be the best option.
The right apartment is going to make all the
difference when you feel right at home. But finding a good apartment that will
check all the boxes can take some time and patience. If you are looking for an
apartment that is right for you and still affordable, even with amazing
amenities, then check out our studio
apartments in the Fashion District. We are
confident that you will love these from the moment you walk in the door.
Contact us today to take a tour.
