When renting a home or apartment, there are numerous factors to consider. If you have the ability to relocate when you want, picking the optimal time to rent and move into an apartment can save you money—or help you find a fantastic house.
Rental prices and availability change year-round – each month – depending on demand. You’ll be able to pick the best time to move into your new apartment if you know how the rental market works in general and look at your own needs and wants.
When Should I Move into a New Apartment?
The best time to move into a new apartment depends largely on your taste and budget. Even if some of these factors can influence the cost of your apartment, none of them will change the situation magically. The variation in price between the peak and low season is most likely to be around 5%. It’s not insignificant, but make sure you have realistic expectations.
Here’s all you need to know about choosing the best time to move into your new apartment.
Best Time to Rent an Inexpensive Apartment
If price is your primary priority, you’ll want to search throughout the winter, especially from November to March. Due to a lack of energy and money during the Christmas season, fewer people are looking for new apartments.
Summer is when most individuals make major life changes (college students going away from home, for example), so demand and prices are highest then and lowest in the winter. Due to the fact that most leases terminate in the summer, you won’t have much of a choice.
Most apartment managers, however, will be ready to accept a lower monthly fee in order to avoid having a unit lie empty for months. Landlords are worried about losing months’ worth of rent, so they reduce the price of their remaining units, offer discounts, or give special deals in an attempt to entice more renters during the slow season (October to April). As a result, the best rental deals can be found throughout the winter.
If you’re moving on a budget, you might want to see the 10 Best Places To Move To With Little or No Money.
Best Month to Rent a Low-Cost Apartment
The longer a property sits on the market, the more likely the landlord is to lower the rent—as a result, the cheapest rental prices are found between December and March.
According to studies, the most affordable month to rent a place is February—rental prices in the last winter month are around 5% lower than in the peak season.
So, if you need to get the cheapest bargain on your new apartment, relocate during the coldest months of the year, while everyone else is snuggled in their warm houses.
Keep in mind that because apartment turnover is slower in the winter, there may be fewer properties available and you may not be able to find an apartment that meets all of your needs. You may have to settle for a less convenient location or give up a certain luxury.
Best Time to Rent The Finest Apartment
On the other hand, during the summer, probably between May and September, you’ll have the most options. This makes sense when you consider that summer is when youngsters finish school, college students graduate, and the weather becomes pleasant enough for outdoor activities such as walking. Moving tasks like driving, loading and unloading furniture, and carrying boxes are all easier in warmer weather.
The majority of individuals sign twelve-month agreements in the summer, which means they will finish around the same time, so that’s when the newest flats will be available. The disadvantages are that you’ll have to act quickly and will have to pay a higher rent because there are many other renters seeking suitable options at the same time.
However, It can be a more difficult time to look for a place because you may face more competition in your search for the ideal spot. Once would-be renters find a suitable apartment, they are always ready to act quickly, often signing on the spot.
To get the apartment of your taste, it is helpful to check out the 10 Best Places to Move to in The US.
Best Time to Hunt for an Apartment
Once you’ve decided on a moving period, you can narrow it down to a certain month. Let’s imagine you’re planning to relocate in October. The best time to start looking for a suitable apartment is toward the end of the month preceding the planned move month; in this case, start looking for an apartment during the final two weeks of September.
While this strategy may appear last-minute, it is actually the best option because the bulk of renters’ leases expire at the end of the month or during the first week of the next month. Renters that are about to leave openings must have issued or will be providing a 30-day notice by this time, which implies that if you start looking for an apartment during that time frame, you are likely to secure the first option of available space.
People who are ready to take a chance or who are able to move at a moment’s notice could adopt a different strategy to apartment hunting. Waiting till the second week of the move-in month can pay off, as landlords who are looking to fill vacancies are more eager to find new tenants.
Bottom Line
Given the foregoing, the optimum time of year to rent an apartment is determined by your major concern—desirability or affordability.
1) If you want to save the most money, renting in the winter is the best option because demand is lower and prices are cheaper.
2) If you’re not on a strict budget and have certain requirements, the summer is the ideal time to find an apartment because you’ll have the most options and it’ll be easier to locate the perfect match.
After you’ve figured out when the optimum time is to obtain an apartment based on your goals, you need to start looking for an apartment at least two weeks before your move month.
While searching for suitable apartments, it is vital to consider the Best Way to Move Cross the Country.
