So, you’ve decided to rent a Boston apartment or are at least considering the idea. You may have heard that the best time of year to move to the city is in early September. Although it’s not ideal, it is the most common time to rent a Boston apartment. This is due to the fact that Bean Town is a college town. The vast majority of students start classes in early September. That means they need to be back on campus for 9/1 each year. That’s why most landlords and property managers have adopted the September 1st to September 1st lease agreement timeframe.
Additionally, the end of the summer means extremely hot weather- certainly not ideal moving conditions. Nobody would choose to move all of their stuff when it’s nearly 100 degrees outside. Wouldn’t you rather spend one of the last weekends of the summer at the beach or in a pool? There is also a ton of competition, to say the least. That means landlords are not typically offering many deals or price reductions for top tier apartments available 9/1.
They may also be stricter when it comes to the approval process. However, we do have some good news to share with you. Renting during the “off- season” means less competition and better deals. So, without further ado, when is the best time to sign a lease for your Boston apartment?
Things to Consider
Boston happens to have one of the most expensive residential rental markets in the entire country. In fact, we’ve been in the top three (3) priciest places to live for multiple years running. At any given time there are actually more people searching for a Boston apartment than units available for rent. The principals of supply and demand come into play here. The combination of high demand and low supply equals a lot of competition for each available apartment. This means that, for most of the year, property owners do not need to offer rental incentives to get their properties rented quickly.
Landlords in most parts of the country need to offer good deals on a…