2.8 min read
What is the best month to rent a house?
You have heard or read lots of info about renting homes. Now you want to know the best month to rent a home. Well, the best answer to that question is, “it depends.”
Best Time to Rent a House
The best month to rent a house will depend on your current housing situation. Not to mention your commitments like work or school or seasonal activity in the target rental area. It also depends on rental housing supply and demand in your preferred area and how price-conscious you are.
Late Spring to Early Fall
In most places, the best months to rent a house are May and June. During this period, children are on break from school, and many leases are ending, so landlords are looking for new renters. This is particularly true in the states with four seasons (Illinois, Michigan, New York).
If you are in the southern states, the best time to move is in the off-season. This is because there is little interest from tourists in the rental housing market. For instance, looking for a house to rent when universities have Spring break. Or when families take their summer beach vacations, or when snowbirds are looking for short-term rentals is ill-advised.
If you are price-conscious, this is the best time to rent a home. During the off-season, landlords with no renters are more willing to reduce their rent and negotiate with you so they can rent out the property. The best month for this is December.
Supply and Demand
Another factor to consider is the supply and demand of houses in the areas you want to live in. If there is high demand and low supply, the best time to look for a rental is a high level of lease-end. Hopefully, you can find a place before the vacancies become evident to others looking for home rentals. You are likely to encounter this situation if you want to live close to a university. University students will often look for housing months in advance because the most excellent and lowest-priced housing is not on the market for long; landlords rarely advertise. There are always more people who want to rent such housing than is available for rent.
In short . . ."What is the best month to rent a house?"
The best time for renting a home depends on your personal circumstances and the housing market in the area where you want to live. While some may advise you to begin your search a month or two before you move, it may be better to start looking at least three months in advance if you want to have access to the best housing options. In areas with high demand and low supply, start looking at least four or five months before you plan to move and ask some local people to help you. Lastly, pay attention to local events that affect the housing market in the target area. Suppose many people have been forced to leave a place because of an economic downturn. In that case, you may be able to find a great rental home and negotiate a good deal.