the best time of year to rent<\/a>, specifically which month. We then found that the \u201cbest\u201d or cheapest months to rent tend to be between December and March (early winter to early spring). We also found that the \u201cworst\u201d or most expensive months are in May through October (basically early summer to early fall).<\/p>\nFurthermore, we did find that September was the worst month to rent a 1 bedroom apartment in the city of Atlanta and Boston. We also found that September was a bad month to rent a 2 bedroom apartment for four cities, those cities being Los Angeles, Chicago, Atlanta, and Boston. So does that mean you shouldn\u2019t be looking for an apartment right now? Not necessarily.<\/p>\n
Technically, yes, September is almost over and we\u2019re getting into the fall season. Also, from our study, October was less expensive than September for most cities selected for the study. So yes, you could wait until October comes around for cheaper rent prices, or you could bite the bullet and find an apartment right now. \n <\/p>\n
Does the month of September automatically mean paying a higher rent?<\/strong><\/p>\nNo, not necessarily. That depends on where you\u2019re looking, what kind of amenities you are looking for, your budget, how many you are sharing an apartment with, and so on. There are so many factors that weigh in other than just how many people are looking to rent at that particular time (which allows owners and landlords to drive the prices up). But it is important to note that the month of September, technically, is in the rental peak season for most cities. <\/p>\n
So what can you expect if you are looking to find an apartment right now?<\/i><\/p>\n\nYou\u2019re not the only one.<\/strong> Demand is still high, meaning you might have a hard time standing out as the best applicant to secure an apartment and while there\u2019s still a big rental inventory, there\u2019s still many looking at the exact apartment you are.<\/li>\nThe monthly price is still high.<\/strong> Don\u2019t expect to see cheap apartments for rent just because it\u2019s not the month of June and July anymore. September is still considered one of the more expensive months to rent in for most cities.<\/li>\nYou\u2019ll probably sign a 1-year lease.<\/strong> So what, you say? Well, that means when the lease is up next year, you\u2019ll still find yourself in the predicament that you\u2019ll be looking to find a new apartment in the peak rental season again, or you\u2019re looking to negotiate the monthly rent when there\u2019s a high demand for your apartment. Meaning you\u2019ll be in the same boat next year, or you\u2019ll have less negotiating power with a landlord\/owner because the demand for the apartment is high, meaning they could increase the rent if they wanted to because the chance of vacancy is low.<\/li>\nCan you still get rental concessions?<\/strong> Yes, you could technically get rental deals and discounts, in the form of one month free for example. But it is more common to find rental concessions when the rental market is down, or getting a rental concession with longer leases. Why? Because it\u2019s about timing. Meaning, a landlord could offer a free month of rent with a lease of 14 months to ensure that the lease is up for renewal during the pricy months again. So take that into consideration as well.<\/li>\nIf you wait to get an apartment, will the rental inventory go down?<\/strong> If you\u2019re looking to find an apartment in the off-peak season, yes there will be fewer\u00a0apartments up for rent. But, there will always be apartments up for grab and you\u2019re more likely to get them for less money as fewer people are willing to move closer to the winter months due to the conditions when moving.<\/li>\n<\/ul>\n \nSo what should you do? Should you spend more money now and get a place or should you wait until the rent prices drop? Ultimately, that\u2019s up to you. If your lease is up now, or you just have to move in general, there are still good deals out there, so don\u2019t fret. If you don\u2019t have to move right now, but can wait a month or two, do it. The monthly rent is more likely to drop, but be aware that the rental inventory could be smaller. But, whatever you chose, you will find an apartment. Happy apartment hunting from RentHop! <\/p>\n","protected":false},"excerpt":{"rendered":"
Everyone knows that finding an apartment during the summer is the worst. Why? Because you\u2019re not alone in doing so. Actually, you and thousands of other people who just graduated or moving to commute work choose to move during the summer. That\u2019s just how it\u2019s always been. Summer is just peak renting season. So what […]<\/p>\n","protected":false},"author":3,"featured_media":9609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[150],"tags":[],"class_list":{"0":"post-9581","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-apartment-hunting"},"yoast_head":"\n
Is now a good time to rent? - Real Estate Topics, Tips, and Guides<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n