: renewing a lease will usually get you a cheaper rate on your unit than a new resident. Rent prices typically rise 1 to 3 percent on a yearly basis and most times you will receive the same rate that you were originally renting for.

Cheaper Rent

No Move in Fees: there are no move-in fees associated with renewing a lease. If you decide to look for a new apartment then you will have to pay a security deposit, first and last month’s rents.

Less Time Consuming: moving to a new place is always an exciting prospect, but it is also time consuming and stressful. You will have to box your stuff, get a truck or moving van and then clean out the old apartment. If you are happy with your current apartment, resigning a new lease might be your best option.