Around 35% of households in the U.S. live in rental properties. One benefit of renting an apartment is you can avoid a long-term commitment.
After all, most leases expire after one year. So you can move to a new apartment when your lease ends. But, of course, you don’t have to move.
You can stay in your apartment as long as you’d like. But there might be times when you should consider moving.
So how do you know when it’s time to move to a new one? Check out these eight signs, as they’ll help you know.
1. Increased Rent
Monthly rental costs increase, but some increases are too much for tenants. Therefore, landlords must notify their tenants when increasing rent for apartments. This notification must be in writing.
These notifications alert tenants of changes in rent and additional apartment fees. Then, the tenants can choose how to respond. For example, they can stay and pay the higher rent or move out.
You might decide to move if your rent increases too much. After all, you might not be able to afford the rent anymore.
You might find better units for lower prices as you start searching. You might also find perks and amenities you don’t currently have. You could also find one in a better location.
2. Poor Quality
Tenants pay higher rent for nicer and larger apartments. But sometimes the quality doesn’t keep up with the rental price.
For example, is your apartment run down? Are things broken, or does your unit look bad?
You can choose how to respond when things start wearing out and don’t get fixed. For example, you can bug your landlord to fix or update them. But there’s no guarantee they’ll address your issues.
The other option is to find a new apartment. You can look for one that is updated, modernized, and nicer.
3. Bad Management
If talking to your landlord is difficult, you’re not alone. A lot of tenants feel nervous approaching their landlords with requests.
For example, your landlord might make excuses for not fixing things. They might dismiss your concerns, needs, and requests. These are all signs of bad management.
Bad property managers tend to neglect tenant concerns and requests. Bad managers also fail to perform the necessary maintenance and repairs.
You have no control over what manager your building has, but you can move out. When searching for a new apartment, research the management. Find a place with a reputable property manager.
After all, having a great apartment is important. But having management that cares is also vital.
4. Safety Concerns
Being safe in your apartment is a valid need. When tenants begin feeling unsafe in their apartments, it’s a sign that it might be time to move.
You can check crime rates in an area before choosing a new one. In fact, you should take time to do this, as safety matters.
The safety measures you have in your unit also matter. For example, does the building have locked exterior doors? Do you have deadbolts in your apartment?
Additionally, have crimes happened at your unit lately? In other words, what’s causing you to feel unsafe?
You shouldn’t feel scared when you’re home. So if you’re nervous about crime and safety, it’s time to move.
Some people know it’s time to find a new apartment if their landlords evict them. For example, you might get evicted for not paying your rent. You can also get evicted if the landlord decides to sell the building.
Regardless of the reason, eviction causes tenants to look for new apartments.
Of course, moving to a new apartment before your eviction is better than waiting until afterward. Unfortunately, having an eviction on your record makes finding a new apartment more challenging.
Landlords conduct background checks on all applicants. These checks evaluate a person’s credit, criminal record, and past rental history. Landlords often reject applicants with prior evictions.
Apartment buildings typically have some parking spots. But many properties need more space. If you didn’t have a car when you moved to your current unit, you probably didn’t care about parking.
But what happens if you buy a car? You’ll probably need to move if you won’t be able to park at your current unit. Keep this in mind if you rent a new one.
You can search for a property with parking. Of course, you must ask the property manager about the parking. For example, do you have to pay extra for a guaranteed parking spot?
7. Neighbor Issues
You’ll have neighbors if you live in an apartment building. While many neighbors mind their own business, others don’t. Unfortunately, your neighbors affect your life and living experience in an apartment.
Neighbors might bother you with loud music. They might also argue or stay up late fighting. Regardless of what they’re doing, it would help if you told your landlord.
If the problem persists, start looking for a new place. Life is miserable when you can’t stand being home because of your neighbors.
8. More or Less Space
One complaint many people have with their apartments is a need for more space. They might need more living space for their families and things. They might also need more apartment storage space.
You can look for larger units if you need more space. The best way to judge the space in apartments is by touring units.
Of course, some people find new apartments if they have too much space. For example, you might need a smaller unit if your roommate moves out.
Having enough space is vital. But having too much space often results in paying too much for the apartment.
Find a New Apartment
You can look for a new apartment for these reasons or others. First, you should check your lease to avoid breaking it. Then, you can spend time searching for the right one.
Contact us at Reedy & Company to see our available apartments. We offer quality property management services in the Memphis area.