Do Your Homework

Do your research on rentals in the building, on the block and in the neighborhood to make sure the renewal price your landlord is offering is fair and in line with the current market. Leverage that data in conversations with your landlord.

Moving is not cheap. Calculate how much it will cost you to move, factoring in a moving van, a broker fee and other associated costs. Then calculate the increase over the course of the year and decide whether or not you’ll come out ahead if you stay or if you go.