When Is the Best Time to Rent a Condo?
You've heard some good things about the condo complex down by the beach, and even the high-rise lofts in the growing downtown area.
Most renters assume that just because the lease is up, that is the time to hop into the next place.
If you have become increasingly dissatisfied with the selection of available rentals in your needed time frame, though, you might want to consider some alternatives while you take the time to find the place you really want.
Nothing is more frustrating than buying or committing to something, only to discover you could have gotten a deal somewhere else.
This can apply to condo hunting as well - you sign a lease on Monday only to drive past your dream home on Tuesday and discover it's available.
If you don't want to be caught in this seemingly never-ending trap of untimely lease renewal, there are ways to combat it.
You have at least three options:
- Try to bargain with your current landlord to move to a month-to-month lease while you search.
Your landlord may be willing to negotiate if they know you're good for the rent and give them ample notice when you do leave.
- Put your things in storage and move into an extended stay hotel in town while you search for something more permanent.
- Put your things in storage and look for a short-term (three to six-month) vacation rental or furnished corporate apartment while you search for a new condo.
So instead of constantly renting from September to September, you can adjust for spring or early winter renewal.
Depending on where you live, your region may have more desirable vacancies at a certain time of year.
College towns may see a large exodus around late spring when students graduate and move from their condos and apartments.
Consequently, you may find it a challenge to find a place in the summer when people have more time off to move.
Consult with a real estate agent to geta better feel of the renting cycles where you live.
The best time to move into a new condo, however, is when you are ready and you have found the right place.
If you know what to do, you can make that happen.