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I used to write a letter to negotiate each year. It was a 8-unit building so I got to know the brothers who ownered it a bit from reaching out over time, even if they were out of state. The least you can do is ask. State why you've been a good tenant and the benefit of keeping you vs. dealing with vacancy. But there's a countdown with this as rent goes up and others are waiting to pay exactly what you won't pay or more. Management knows this.
Unless it’s lower than market I would absolutely move
Following, I'm in a similar boat