When Is the Best Time to Search for an Apartment?
In the real estate world, it’s said that spring is the best season to sell because people prefer to move during the summer months. But can the same be said for the rental market? Is there a better time to apartment hunt, or is it pretty much the same year-round?
So, when is the best time to search for an apartment for rent in Canada? There are two schools of thought …
If you’re savvy, you can absolutely get the best deal on a rental apartment in the winter. People tend to not want to move during the colder months, so there are fewer vacancies. While fewer vacancies might seem like bad news, it could work in your favour. Landlord and building property managers want to fill these vacancies, even though there are fewer of them. Because of their need to fill the vacant rental apartments, they might be willing to negotiate the cost of the rent with you. A negotiated price is better than a vacancy.
If you sign a year-long lease at this price, you’re locked into this rent for a year and it can be raised only by the percentage outlined by the province. It’s a win-win – the landlord fills the spot, and you get a better price.
Since the weather is nicer and the school year is coming to a close, there will be lots of move-outs. This means lots of units will become available during this time of year. Lots of rental apartments may come available, but you won’t be able to negotiate the rent down, as there will be lots of people looking to move in, too.
The benefit is that with more available, you can have your pick. You can be more selective and not have to settle for what’s available. It’s also nice to move in when it’s nice out!
In the end, it doesn’t matter what time of year you look for rental apartments when you have a handy online tool such as Gottarent.com . Rain or shine, you can search for apartments in your area and budget.