Boston Property Management: Why you should renew your Lease
Not everyone can afford a house and that is why they prefer to rent a place. Nothing lasts forever as your lease will come to an end some day. You can be tempted to move out of your place towards the end of your lease as you want to experience a new neighbourhood or upgrade. However, you should stay put as it could be a better option.
When you factor in the costs, it comes to a lot at the end of the day. There will be security deposits to pay, the cost of moving everything, time off from work and the cost of redecorating your new place. A move will cost you a lot of money. The bigger the market, the more it will cost you. A city like Boston will also be quite expensive and you will have to think twice if you want to do that.
Sometimes deposits are also really huge and that will take a huge chunk out of your bank account. Not everyone gets most of their deposit back as the landlord will make some deduction or the other. Even if you take good care of your rental, it may be a while before your deposit is refunded.
Boston Property Management: You have the advantage
When you want to move, the property manager has to make an effort to fill the vacancy. This could mean a loss of some rent till the new tenant moves in. there is also the cost of the advertisement to fill the vacancy. This is why they would prefer to keep you around if you are a good tenant. They would save a lot of effort and money keeping you there instead of going for someone new. This gives you some bargaining power. So ask for a better lease, discount on your rent or some complimentary amenities. The only thing you need to be aware of is that the landlord is restricted by how much he can increase your rent. So check around to see if your rent is the norm and if it is then you can negotiate for a lower price. This will still be cheaper than what you would pay for at another place.
Community and Relations
When you are a good tenant, you usually have a good rapport with your landlord and neighbours. You also have good links with everyone as you have made an effort to establish them. When you move to a new place, you will have to start all over. You could be jeopardising everything for a place where you won’t be happy.
So before you make any decisions, do the math and see if the pros and cons outweigh everything else. You may find out it’s better to stay where you are.
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