Some renters may be tempted to search for new digs with many rental markets around Australia showing signs of growing vacancy rates. However, staying put has several benefits, particularly if your current rental arrangement works well for you.

One reason against shifting rental digs is to avoid the time-consuming and expensive moving process. Packing, organising, and transporting your belongings saps your time and money. Moreover, the need to update utilities, change address details, organise a new bond, and take time off from work can be side-stepped by simply renewing your current lease. According to hireamover.com.au, a typical four-bedroom house in Sydney takes between 7-10 hours with three movers and a truck and would cost between $1800 and $2,520 – and don’t forget the time it will take you to pack up the property and return it to the state it was in when you first signed your rental agreement. 

There are even more reasons to stay if you enjoy a good relationship with your landlord and property manager. A responsive, fair landlord is worth their weight in gold. Accordingly, if your current situation is comfortable, it may be worth negotiating the terms of your lease rather than seeking a new property. You may also be able to negotiate a longer or shorter lease to suit your needs, and you can even request a rent review to ensure you’re getting a fair deal. Staying in your current rental also means avoiding the uncertainty of moving into a new property where you don’t know the landlord or property manager.

Having a property, you can truly call home shouldn’t be underestimated – and a long-term tenancy can be the next best thing to owning a property. As a long-term renter, you can enjoy stability. At the same time, this tenure allows you to build relationships within your local community, all without the pressures of homeownership, such as paying a mortgage. 

Finding a new rental can also be stressful and competitive in suburbs and towns with low vacancy rates. Therefore, you can avoid the stress of house hunting in a tight market by staying in your current rental home.

Ultimately, if your current rental is meeting your needs staying put can be a wise decision as it can save you time, money, and unnecessary stress – and more importantly, a sense of security and familiarity.

Your local Raine & Horne Property Manager can provide further insights into why staying in your current rental might prove a sensible move.