If your lease will be up soon, then you may be struggling to decide whether you should renew it or move to a new place. It is important to note that there are a number of ways that you can benefit from renewing your lease. Below is a list of reasons that you should renew your lease:

It’s Easier

Renewing your lease is a lot easier than going out and looking for a new place. In most cases, all you have to do is sign another lease. However, if you choose to move out, then you will have to look for another place and move all of your belongings.

It’s Cheaper

If you want to save money, then you should definitely consider renewing your lease. There are a number of costs associated with moving to a new place. You will have to pay an application fee and security deposit. You may also have to pay the first and last month’s rent. Additionally, if you will be hiring a moving company, then this will add to the cost of moving.

You could easily spend thousands of dollars to move into a new place. Even if the rent in your new place is cheaper, you will still save a lot of money by staying in your old place.

Your Landlord Wants You To Stay There

Most landlords would agree that keeping current tenants is a lot easier than going out and trying to find new ones. If you have lived in the house or apartment for a while, then you have proved that you are a reliable tenant. Your landlord may even give you a discounted rent for renewing your lease.

It’s Less Stressful

Moving can be both stressful and time-consuming. You have to pack up, forward your mail, clean up, de-clutter, buy new stuff, hire a mover and set up furniture in your new place. You also have to transfer your utilities. On the other hand, you only have to spend five to 10 minutes renewing your lease.