Best Time to Rent an Apartment
Are you considering renting a new apartment in the future? If so, it’s a good idea to make sure you’re looking at the right time of the year to find the best place at the best price. Traditionally speaking, the best time of the year to search for a new apartment would be during the winter; it allows you to avoid the hordes of students who often move during the summer months. Add in the fact that fewer people tend to search for apartments during the winter months, and it wouldcertainly seem as though this would be the best time to find a new abode.
It should be kept in mind; however, that such trends might not always hold true across the entire United States. When searching for a new apartment, it’s important to investigate local trends a little more closely in order to identify the best time to find a new apartment in your area. For example, while September is not normally a good month to move in or rent, September move ins are extremely common in Boston and pricing can vary because of that. Multiple other factors should be taken into consideration when selecting the best time to choose and rent a new apartment. When done properly, this will allow you to take advantage of the lowest rental rates. When to Focus your Search for a New Apartment
To narrow in the time to look for your new apartment, consider making your move between themonths of October and April. This will allow you the best opportunity to find a place when rates tend to be the lowest. If you’re simply looking for the best options, however, focus your search during the months of May and September. Due to the fact that people usually have major life changes during the summer months, that timeframe is usually the busiest time when it comes torental moving.*
For instance, the summer months are usually when recent high school graduates are making themove to college. At the same time, recent college graduates may be leaving the apartments where they resided for the duration of their education and begin looking for living arrangements
closer to a new job. Warmer temperatures are also more conducive for loading and unloading boxes and furniture.
As a result of such a high turnover, the inventory for apartment options tends to be higher during the summer months. There is a trade-off to having more options from which to choose; however, and it is higher rental rates during the summer months.
If you’re looking to take advantage of lower rental rates, it’s better to wait until the winter months. Ideally, start looking after the holidays are over. Demand tends to be lowest between January and March. This is because fewer people tend to move during these months. As a result of lower demand, rental rates usually decrease. With that said, since there are fewer people moving during these months, you may find there are fewer options from which to
choose. You may find that you need to compromise when it comes to your wish list in order totake advantage of lower prices.
Beyond finding the best time of the year to search for an apartment, it’s also important to know what time of the month to begin searching for a new rental. Generally speaking, the best time of the month to apartment search is at the end of the month before you actually plan to move. Do a lot of research in your own area and talk to a local real estate agent to best know what time is best to rent an apartment in your specific area.