For tenants, renewing your current space or relocating within your building is often a better solution than moving. By remaining, you don't change commuting patterns, eating haunts or local neighborhood services, etc. Unfortunately, landlords have a name for tenants who negotiate their own renewal: "captured" tenants. This implies that they are virtually guaranteed to pay more for their space than a new tenant moving in.
Landlords know exactly what it would cost for a tenant to move and the natural resistance for tenants to make such a move. With these assumptions firmly implanted in their heads, landlords will extract the highest rent possible from you. Our job, at G.E. Grace, is to dislodge those notions.
It’s a presidential election year, and while that often has implications for markets, it is also a useful insight into people’s thinking. Politics engenders passion, so what we often see are people entrenched in their positions—sometimes while ignoring potentially important points of view.