With student apartments in Midtown filling up fast, one of the first decisions you will make in the fall semester is choosing where you want to live for the next school year.
If you’re already living in an off-campus apartment and would like to continue living off-campus, this decision comes down to whether you want to renew your lease at your current property, or if you want to sign a new lease at a different property.
Read Next: 15 Questions to Ask When Touring a Student Apartment in Midtown
With an abundance of options close to campus and new properties opening up every year, it can be difficult to decide which of these options is best for you.
At Whistler, we understand how difficult it can be to pick the right place for you. To help answer your questions about renewing a lease versus signing a new lease, we have compiled this list of the pros and cons of each option.
Moving to a New Student Apartment in Midtown Atlanta
Pro: Newer Amenities
Midtown is full of student apartment options with new locations opening up every year. Each new property opens bigger and better amenities to outweigh the competition, making your options more luxurious by the year.
These new amenities go past the traditional gym and pool deck. Think trendy new amenities like saunas, golf-simulators, yoga studios, spas and spin cycle studios. Every new location is sure to have a unique amenity to differentiate itself, so be sure to evaluate which amenities each property offers.
Read Next: 5 Benefits of Signing an Individual Lease as a Student in Midtown
One of the most appealing benefits of moving to a new property is that your apartment will be brand new. The entire building will be freshly painted, newly furnished, and completely spotless.
Think about it– you will be the first to sleep in your bed, first to use your shower, one of the first to try out new amenities, etc. It’s hard to beat the novelty and excitement surrounding an apartment that is brand new.
Read Next: 5 Benefits of Living in New Student Housing Development
Pro: New Roommates and Community
Another benefit is the sense of community you will develop with your fellow neighbors.
While there is some sense of community amongst neighbors in most student apartments, being the first group to live in a building will make your bond even stronger. You can shape the vibe of the apartment’s community and take pride in the new location together.
Also, if you and your current roommate(s) want to keep living together you can always do so in a new apartment. Or, if you want to shake things up, moving to a new apartment is always a great way to make that happen.
Read Next: How to Find Roommates at Georgia Tech
Con: Moving Fees and Time
One of the most dreaded parts of a new apartment is the moving process.
A few locations may offer moving services to incentivize you to make the move, but most do not. Regardless, it’s important to consider the time it takes to move into a new location and the money you may have to spend on storage space while you are in between apartments.
Renewing Your Lease at Your Current Off-campus Apartment
Choosing to renew your lease allows you to stay in an environment you know is comfortable. Having lived there for a year or more already, you will be accustomed to the property’s amenities, community, staff and policies. You’ll have a clear understanding of what to expect for the coming year when you sign your lease.
Pro: No Moving Fees
One of the biggest rewards of renewing your lease is getting to leave all of your things in your apartment. Staying in the same location and skipping the move will save you both time and money.
Read Next: Student Housing vs. Traditional Apartments near Georgia Tech: Which Type of Housing is Right for Me?
Pro: Keep the Same Roommates
Having good roommates can have a huge impact on your overall living experience at a property.
If your friend group lived well together during your first lease, it’s a good idea to consider renewing your lease. You will all live in the same location with the same people, so you will know exactly what to expect.
Con: Same Environment
In the same way that living in the same space and knowing exactly what to expect can be comforting, it can also be a con depending on how your living experience was. If you were not a fan of leasing policies, staff, or certain aspects of the building, you should definitely look into moving to a new location.
There can also be a lack of novelty when living in the same space, with the same amenities, at the same location. If you love the excitement of exploring a new space and living somewhere new, then renewing your current lease may not be your best option.
Con: Potential Rent Increase
To keep up with increasing market pieces, apartments will raise rent. This means living in the same apartment may cost you more than it did the previous year. Be sure to ask if there are any price increases before renewing your lease.
Moving vs. Renewing: Things to Consider
In the end, the biggest questions to ask yourself are:
- Do I like my property’s management? Are they responsive and trustworthy?
- Does my property feel safe?
- Do I need (or no longer need) access to parking?
- Does the rental rate work for my budget?
- Can I afford something better?
- Is leaving worth the hassle of moving?
- Does this apartment still fit my needs?
If you value comfort and your current apartment still meets your needs, renewing your lease could be a good option for you. On the other hand, if you value new amenities and the novelty of a space, you should consider moving to a new student housing property.
We hope this article has helped you understand the costs and benefits of renewing your lease vs. moving to a new student apartment. If you have any questions or would like to learn more about Whistler, please contact our leasing staff. We are more than happy to help!