Several factors come into play when looking for a new Suffolk rental home. Aside from size, location, and other features, the timing of your move is one important factor to consider. Different times of the year can impact the housing market, from availability to rental rates. Therefore, 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 summer months are usually the busiest season for the rental market. Several leases expire around this time, and people start looking for new rental homes. As a result, there tend to be more options available at that time. This is specifically true if you reside in a college town or a neighborhood with many families with children in school. It’s also the preferred time of year for moving due to the beautiful weather, enabling you to carry boxes and furniture more easily.
Great weather and life changes bring about increased movement in the rental market in the summer. This can assist you in locating a rental house because there are more houses become available in the summer months. The downside of this busy season is that rental rates tend to increase with demand; for that reason, if you’re hunting for a bargain, there are better times to make your move than summer.
Winter Months = Lower Rates
The best time to find lower rental rates and available homes is often during the winter, mainly in locations with colder climates. This is because there tends to be less demand for rentals throughout these seasons, as individuals are less likely to look for a new home. Additionally, Suffolk property managers may be more ready to bargain on price to fill their rental units.
However, you need to be aware that rental availability and rates can also change according to the local market and economy. Because there is less activity, locating rental homes in the winter in some markets can be difficult. As a result, it is recommended to begin your search a bit earlier than you would if you moved in the summer.
How Early to Start Looking
Regardless of what time of year you want to move, it’s always a good idea 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. It is essential to begin your hunt at least a couple of months before your desired move-in date. And if you locate a place you adore, don’t hesitate to jump on it.
Finally, the appropriate time to rent a new home depends upon your preferences and what is available in your local market. Even though the summer months may provide more selections, winter can bring lower rental rates. It’s important to research and begin hunting early to find the perfect rental for you.
It is critical to consult a local market expert to get the best information and advice because every rental market is different. Contact Real Property Management Hampton Roads to speak with a property manager, or you can browse our listings online.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.