The rental market has peak seasons just as many other things do. However, the best time of the year to rent an apartment is dependent on more than the changes in weather. Inventory of available apartments may increase at certain times of the year, but competition will increase at those times as well. In other seasons, inventory may be scarce, but you might find a better price.
With the proliferation of Internet technology, landlords can list their properties at any time of the year and renters can be alerted of good offers based on their interests. Regardless of the season, the best time of the year to rent an apartment is when you need to move and can afford to do so.
Peak Season – Spring and Summer
In general, the spring and summer seasons are when the majority of listings are put on the market. Just as renters prefer to move during warmer months, homeowners prefer to begin new leases when the weather is favorable.
During these months, you should expect a fair amount of competition, which can affect the possibility of your application being accepted. During competitive rental market seasons, landlords and apartment managers may be less inclined to receive applications from less qualified applicants. That’s because during this time they have greater possibilities for a more favorable tenant. During these months, renters should also be sure to act quickly as apartments are often leased quickly. Compared to other times, the spring rental market is typically filled with inventory, but competition and cost may also rise.
The spring and summer months provide the most attractive time of the year for renting homes. With green grass and blooming flowers, potential tenants can get a clearer picture of what the landscape on the property and surrounding areas look like. Properties are less appealing during the dreary winter months when trees are bare and plants have not bloomed.
Winter is often a slower season for many activities, bringing with it a decreased availability of available apartment. However, apartment complexes will continue to produce new listings to meet the continuous demand. During off-peak seasons, you are more likely to find an apartment at a great deal. With less competition, management is typically more motivated to lease quickly.
With many people preoccupied with holiday events, obligations and spending, the winter months typically have fewer people looking to move. This often results in landlords who are easier to work with. The holidays can, however, create an extra level of stress for renters. Renting an apartment requires a good amount of time and effort that can be hard to schedule in around holiday commitments.
Cold weather and snowy conditions also provide less favorable times for a move. Loading and unloading a moving truck in low temperatures can be difficult, especially if you rent an upper story apartment.
Northern Colorado Apartment Management
There isn’t a definite answer as to the right season to rent an apartment. Each season presents unique opportunities and challenges. If you are interested in renting an apartment in Fort Collins, Loveland or the surrounding areas, contact us at All Property Services. Our team can help you determine the ideal time to rent along with finding quality listings.