If you sign your lease in the right month, you can save a ton of money on your apartment rent. Apartment rates change throughout the year, just like the quest for a new job. If you want to get the best bargain on an apartment, you need to plan ahead and act quickly. So, when is the best time to move for renters? We at Number 1 Van Lines are here to share with you everything you need to know about seasonality and how it affects rent prices, based on studies.
Best time to move for renters: Finding the best deal
The ideal time to rent an apartment is in the winter because there is less competition. You’re not the only one who finds relocating in the winter difficult. In the winter, many individuals avoid moving. Moving might be complicated or even impossible in places like Boston, Chicago, or New York City due to snowstorms and ice on the streets. Since most tenants dislike relocating during the winter, now is the greatest time to discover a place to live and save money on your next rental. In the months of December and January, apartment rents are at their lowest points.
In order to maintain low rates, property managers must continue to fill their units. As a result, renters have the most negotiation power during the winter months. The winter is also a great time to take advantage of move-in discounts like waived security deposits or a month’s free rent. Moving during the winter can be made a lot more comfortable with these savings. Once you find your ideal apartment, feel free to call our residential movers to help you with the move.
When will you have the most options?
Renters may get the best deals throughout the winter, but there may be a problem with availability. During the spring and summer months, apartment moving is at its busiest. There is a greater variety of apartments available for rent as leases expire and people move.
Whether you’re looking for a tiny studio in a hip neighborhood or a roomy two-bedroom in a family-friendly neighborhood, you’re bound to find it in the spring and summer months. As a result, the cost of relocation will be higher. For those looking for a place to live, the peak summer months are the best time to look for a place.
Expect more competition in peak season
Despite the fact that there are more possibilities available throughout the summer, you must always be alert and quick while submitting your application materials. Apartments are in high demand since this is the time of year when people are making significant changes in their lives. In college towns, former high school students search for apartments. Many recent college grads make the move to the big city in search of work. Families make every effort to relocate in advance of the start of the school year. The apartment market is really competitive in the summer months.
This is the busiest time of year for landlords, with more leases than at any other period. Consequently, renters are advised to contact the landlords as soon as possible. There may be a lot of potential suitors competing for the same flat, so you’ll need to act quickly. During these attractive summer months, keep in mind that rent costs will be at their peak because supply is in such great demand. But once you find your place, no matter how far you’re moving, our long-distance movers can get you from point A to point B in no time.
Is it a good idea to break your lease early for a good deal?
While winter is the ideal season to rent, your lease will expire in the summer. Breaking a lease early in order to get a great price may be on your mind. Unless you have a good reason, don’t do it. If you break your lease early, you risk forfeiting your security deposit and tarnishing your relationship with the landlord. This is a bad idea, as you frequently need to submit rental references for subsequent applications.
Before making any decisions, carefully review your lease agreement. If you decide to move out early, write a notice to your landlord and offer to assist them to locate new tenants in order to avoid a tenancy termination penalty.
Apartment hunting tips
- Set your budget. Apartment hunting can be stressful. If a basic search yields no results, you might be tempted to raise your price range incrementally. Setting a budget is the first step in apartment hunting 101. It’s easy to overspend on a new apartment without a budget in mind, especially when utilities are included.
- Make your list of non-negotiables. Once you know your budget, develop a list of essential apartment features. Remember, there are many sorts of apartments available, and knowing what you want will make your apartment search much easier.
- Consider the neighborhood. There’s a famous term in real estate: “location, location, location.” If you locate the perfect apartment, but it takes you two hours to go to work, is it really worth it? When you’re putting together your list of non-negotiables, consider making the neighborhood one of them.
When renting a new apartment, many of the negatives revolve around the uncertainty – will it be as airy in the summer as it is cozy in the winter? Will your roommates’ noise bother you? How quick is management to respond? After signing an extended lease, you have no choice but to deal with any issues that may arise (or risk affecting your rental history). In the end, the best time to move for renters really depends on what you’re looking for. If you’re looking for a lower price, winter is your time to go. And if you’re very picky and you want to land that perfect apartment you’ve always dreamed of, you’ll be better off starting your search in the summer months. If you need any more help with your move, our specialized moving services are at your disposal.