BrickUnderground

I recently received my lease renewal offer on a rent regulated apartment.  The letter that accompanied the lease states I have to respond within 60 days, while I still have 131 days (4 1/2 mths) until the current lease ends.  It also states that if I fail to respond they will assume that I will be vacating the premises on or before end of current lease.  

Is this legal/enforceable?  I find it difficult to make such a decision when I cannot see what is on the market and available for lease in 4 months.  While it may make hte most sense financially to stay, I have had rodent/bug problems (they do not exterminate unless I call multiple times to complain) and the apartment is poorly maintained - so I would like to see what options are out there.  However, I'd like the option to renew the lease come feb 1 if I do not find anything.