The Real Cost of Moving: How Renewing Your Rental Can Save You Money

Save on Your Florida Apartments By Renewing

When an apartment lease is close to expiring, renters are often tempted by the prospect of moving to a new community. With all the upgrades available in newer apartment communities, it’s easy to be allured by the idea. If you’re looking to save money, however, renewing your lease might be the better option. You might be wondering; why is that?

See why it might be a smarter idea for you to stick with your existing apartment, instead of moving into a new one.

It Might Be Cheaper to Stick With Your Existing Rates

A Stack of 100 Dollar Bills

One of the reasons why people would want to stay in their current apartments is because they want to keep their existing rates. While newer apartments offer many upgrades, they also come with higher rental fees. For most this won’t be a problem, but if you’re looking to save money for the time being, moving might not be the best option.

By staying where you are, you’ll be able to lock in the rate that you’re already used to paying. If you don’t know whether you’ll be able to afford a higher rate, moving out isn’t recommended at the moment.

You Don’t Have to Pay to Move Furniture

Woman in Light Shirt Holding a Cardboard Box

Another important factor to consider is the cost of moving furniture. If you want to move into a new apartment, you’ll need to pay someone to move your furniture. Moving companies aren’t cheap to work with, and if you have a lot of furniture to move you’ll be paying a considerable amount of money in handling fees.

You’ll also be spending a lot of money if the movers have to cover a long distance to get to the new apartment. Plus, you’ll need to buy suitcases and boxes in order to transport other personal possessions. These fees add up, so unless you’re willing to part with that kind of cash, renewing your lease may be the smarter option right now.

There Are Other Fees to Consider

Two Small, Golden Labrador Puppies in Field

Besides moving fees, there are other fees to consider when moving into a new apartment. One of these is the security deposit; you’ll have to pay this upfront if you want to move somewhere new. If you have a pet, there will probably be some pet fees that you’ll have to take care of.

In addition to the regular fees, there are other things you’ll be paying for too. Your fridge will need a fresh restock, so you’ll need to make a trip to the supermarket as soon as possible. Smaller costs like these add up, so even if the rent is lower at your new apartment, you might be paying more right off the bat.

Negotiations on Rate Increases Are Possible

Man Signing a Document With a Pen

Another benefit to renewing is that there’s a chance you could get a lower rate on the apartment. As time goes on, your landlord may want to raise the fee for your apartment, in order to cover other expenses. If you think this will be a problem, you have the opportunity to ask about keeping the rate the same.

If you’ve proven yourself to be a respectable resident, you’ll develop a good relationship with the community’s landlord. This gives you a better chance to make your case about the rate increase. If you act reasonably with your landlord and be understanding, you should be able to make a strong case.

Be sure to read through your lease beforehand, so you can check to make sure your landlord can make this sort of agreement.

Upgrade To A Bigger Unit In Your Apartment Complex 

The Landings At Cypress Meadows copy
The Landings At Cyprus Meadows

There are many reasons to move into a bigger space, one including saving money. Save some money and move from that one bedroom that has you crammed, to a spacious two bedroom roomy enough for comfort. Choosing a bigger rental unit in your apartment complex can save you money in a number of ways. You can save on hiring movers, expenses for the pets, moving fees, and potentially your rental rate. Moving is already hard to do, might as well make it easier! Moving within the same complex decreases the stress of moving and creates a smoother upgrade into your new home. 

If you have any questions about renewing your lease, don’t hesitate to reach out to us.