There are numerous variables to consider when searching for a new rental home. Besides size, location, and other features, one significant consideration is the timing of your move. Different times of the year can affect the housing market, from availability to rental rates. As a result, what is the best time of year to rent a new home? Here is what rental market experts have to say.
Summer Months = More Options
The most active season for the rental market is commonly the summer months. This is when most leases finish, and individuals begin to look for new rental homes. So, there tend to be more options available during this period. This is particularly true if you dwell in a college town or a location with many families with children in school. It’s also the preferred time of year for moving due to good weather conditions, making it simpler to carry boxes and furniture.
Increasing movement in the rental market in the summer is caused by good weather and life changes. Since more homes become available in the summer months, finding a rental house may be easier. The issue with this busy season is that rental rates tend to rise in tandem with demand; hence, if you’re searching for a bargain, there are better times to make your move than summer.
Winter Months = Lower Rates
Mostly, the best time to find lower rental rates and available homes is during the winter, particularly in places with colder climates. This is because there is less demand for rentals during these times, as people are less likely to look for a new home. Moreover, RPRE property managers may be more able to negotiate the price to fill their rental units.
However, it is worth remembering that rental availability and rates can also differ depending on the local market and economy. Due to lower activity, searching for rental homes in the winter in some markets can be more challenging. That indicates you’ll need to begin your search a bit earlier than you would if you moved in the summer.
How Early to Start Looking
No matter what time of year you plan to move, it’s always advisable to start looking for rental homes as early as you can. This will provide you with more options to pick from and also allow for better price negotiation. Starting your search at least a couple of months before your desired move-in date is suggested. And if you discover a spot you love, don’t hesitate to jump on it.
Finally, your preferences and what is available in your local market determine the best time to rent a new home. While the summer months may give more opportunities, winter can bring lower rental rates. It is best to research and start looking early to locate the perfect rental for you.
Since every rental market is special, speaking with a local market expert to get the best information and advice is highly recommended. Call Real Property Real Estate to talk to a property manager, or you can browse our listings online.
