Should you accept a rent increase?

Step 1: Put the increase and the move side by side

Renters often compare the new rent with a cheaper listing and stop there. The fair comparison includes what it costs to get into that cheaper home.

The cost of staying is the increase multiplied by the months of the new lease, plus any new fees.

The cost of moving usually includes:

• movers or truck rental, and packing supplies;
• application and admin fees, and possibly a broker fee;
• a new security deposit, while waiting for the old one back;
• overlapping rent if the dates do not line up;
• utility setup, time off work, and furniture that does not fit;
• a higher commute or other costs at the new location.

A worked example

Your rent is going from $2,000 to $2,150 on a 12-month renewal: $1,800 more over the year. A comparable apartment nearby lists at $2,050, which would save $1,200 a year against the new rent. Moving would cost you about $900 in movers and fees, plus half a month of overlapping rent at $1,025. That is roughly $1,925, more than a year of savings.

On these numbers, moving does not pay off in the first year. But the cheaper listing is useful evidence: it shows the market is below $2,150, which is a strong reason to counter before accepting.

When accepting makes sense

• Comparable homes rent for about the same or more.
• Your rent was well below the market and the increase is a partial catch-up.
• Moving would cost more than the increase over the lease.
• The home suits you in ways that are hard to replace: school, commute, space.

Even then, you can ask for something small in return, such as a waived fee or a repair, when you confirm.

When to negotiate first

• Comparable homes nearby are listed for less than your new rent.
• You can see several vacant units in your building or area.
• You are willing to sign a longer lease.
• You have time before your response deadline.

Our step-by-step guide shows how.

When moving is the better call

If the new rent is clearly above comparable homes, the landlord will not negotiate, and the savings from moving exceed the cost within a reasonable time, moving may be right. Give notice in the way your lease requires, and keep the timing tight to avoid paying double rent.

Things to avoid

• Letting the deadline pass. Some renewals default to a more expensive month-to-month rate if you do not respond.
• Deciding on the monthly number alone. Look at the full-year cost and the cost of moving.
• Signing before negotiating. Once you accept in writing, your leverage is gone for this renewal.

How CounterRent helps

The free check shows the full-year cost of your increase and whether comparable rentals near you support a lower rent. That tells you whether a counter is worth sending before you decide.