There are several factors to take into account when seeking a new Henrico County rental home. Aside from size, location, and other features, the timing of your move is a key factor to consider. Different times of the year can affect the housing market, from availability to rental rates. For that reason, 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 busiest time for the rental market is typically the summer months. This is when most leases end, and people are looking for new rental homes. As a result, there tend to be more options available during this time. This is especially true if you live in a college town or an area with many families with children in school. It’s also the preferred time of year for moving due to better weather conditions, making it easier to carry boxes and furniture.
Nice weather and life changes cause increased movement in the rental market in the summer. This can make acquiring a rental house faster; because more homes become available in the summer months. The drawback of this busy season is that rental rates typically increase with demand; therefore, 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, mostly in areas that encounter colder climates. This is due to less demand for rentals throughout these seasons, as residents are less likely to look for a new home. In addition, Henrico County property managers may be more prepared to bargain on price to fill their rental units.
Yet, you need to be aware that rental availability and rates can also change according to the local market and economy. Because of the reduced activity, it may be more challenging to locate rental homes in the winter in some markets. That may indicate you’ll need to begin your search a bit earlier than you would if you moved in the summer.
How Early to Start Looking
It’s always a wise idea to start looking for rental homes as early as possible, no matter what time of year you want to move. This will provide you with additional options and also allow for better price negotiation. It is ideal to start your research at least a couple of months before your planned move-in date. And if you come across an area you want, don’t hesitate to jump on it.
Finally, the ideal time to rent a new home is determined by your preferences and what is available in your local market. Even though the summer months may have more choices, winter can bring lower rental rates. You need to carry out research and start searching early to locate the perfect rental for you.
Since every rental market is not the same, it’s critical to speak with a local market expert to get the best information and advice. Call Real Property Management Richmond Metro to communicate 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.