Every January, many of us make resolutions we won’t keep. (Yes, yes, so sad.) But if you’re hoping to move out of your crappy, too-small, outdated, inconveniently located, and/or overpriced apartment next year, good news! Jonas Bordo of Dwellsy says finding a better rental is a resolution you can totally keep. He’s even willing to share some insider information: January and February are the best times to move. So shake off your holiday slothfulness and start packing!
“In my experience, people tend to grimace when you suggest they move in January,” says Bordo, who is Dwellsy’s CEO and cofounder. “I get it—it’s cold, nobody wants to lug furniture up icy steps, you’re exhausted and broke after the holidays, and you don’t want to start the new year by burning the vacation time it might take to complete a move. But if you can get past those objections, you have a lot to gain—like hundreds of dollars in saved rent.”
That’s right: An early winter move could save you hundreds—or even thousands—of dollars over the course of the year. Now that Bordo has your attention, here are six reasons why you should start preparing to sign a new lease sooner than you may have planned:
Asking rent typically drops in January. While asking rent tends to increase year-over-year, it can—and does—fluctuate multiple percentage points month-to-month. Since winter is one of the least popular times to move, rent usually hits its lowest price this time of year, before rising to its peak during later summer and early fall.
“One of the biggest secrets in the apartment rental industry is that rent levels are seasonal,” says Bordo. “In many markets, an apartment that’s $1,000 in August might go for $900 in January. That’s a 10 percent price difference, and it will save you $1,200 over the course of the year. You can choose between spending that money on something else, saving it, or selecting an apartment that would have previously been out of your price range.”
You’ll benefit from lower rent year after year. Let’s say you can’t pass up those fantastic rent savings and move into a new apartment this January. Chances are, you’ll be signing a 12-month lease. That means when it’s time to renew the lease or find a new place to live, once again you’ll be starting the process in January—and once again you’ll be taking advantage of lower prices. If you stick to this pattern, you’ll be lowering the big expense of rent for the long term.
You won’t have to deal with so much competition. Late summer and early fall are the most popular times of year to move. If you’re looking for a rental during those months, you’re facing a lot of competition from your fellow renters—and things can get cutthroat. In January, most of the pressure is off.
“I’m not saying you’ll be the only prospective renter looking at a property, but you shouldn’t feel as much pressure to make a split-second decision or commit to a lease before you’re sure it’s where you actually want to live,” says Bordo.
Moving is less expensive. Worried that your friends will be less than thrilled about helping you move all your stuff in the freezing cold? Maybe you won’t have to ask them. Movers are normally less expensive and less busy during the winter, so you’re more likely to find an affordable moving service that’s available on your schedule, not theirs. This is especially helpful if you’re moving a longer distance.
Landlords will be more available. Just like movers, landlords tend to be less busy during the winter. They’ll have more time to show you the rental—so don’t rush through your walk-through. Be sure to look around thoroughly and ask any questions you might have. NOTE to EDITOR: See attached tipsheet for 12 questions renters should ask before signing a lease.
“Landlords might also have more time to devote to maintenance and repair work right now,” points out Bordo. “If you have any concerns about the rental or see something that might need an upgrade (or just a fresh coat of paint), it can’t hurt to mention before signing your lease.”
They might also be more amenable to negotiating. During the summer months, landlords normally have multiple applicants vying for the same rental—meaning they have all the power. Renters can either agree to their terms or keep looking. But in the winter, landlords might not have many (or any) prospective tenants—and they may be more willing to negotiate in order to fill a vacant unit.
Bordo shares some things you may want to bring up with your landlord, depending on what’s most important to you:
- Fees: Security deposits, pet deposits, last month’s rent, and more may all be on the table. Ask if they can be waived or reduced.
- Utilities: Your landlord probably isn’t going to pay your energy or Internet bill. But they might be willing to pay for water, gas, sewage, or garbage removal if those things aren’t already included in your rent.
- Amenities: Maybe you’d like upgraded appliances, new carpet, free access to the fitness center, or a free on-site parking space. Or perhaps you’d like to live in an upgraded unit for the base-unit price.
- Rent: Chances are, your potential landlord has already lowered the unit’s rent from its peak-season high. But there may still be a bit of wiggle room left in the price—you never know until you ask!
“Here’s one more benefit of moving in January: You’ll accomplish this New Year’s resolution quickly, and you can feel smug about it in your great new apartment for the next 11 months,” concludes Bordo.
One final piece of advice: Since the selection of available apartments can be a bit thinner in the winter, make sure you’re scoping out the best variety of rentals by using a service like Dwellsy. With 13+ million verified residential rental listings, Dwellsy has the largest selection of current, accurate, and fraud-free residential listings in the U.S. And since it allows landlords to post listings free of charge (unlike pay-to-play listing services), you’ll get a full and accurate picture of what’s truly available in your area.
About Jonas Bordo:
Jonas Bordo is the CEO and cofounder of Dwellsy, the free residential rental marketplace that makes it easy to find hard-to-find rentals. Prior to cofounding Dwellsy, Jonas was a senior executive at several leading real estate firms including Essex Property Trust and BentallGreenOak, and was with the Boston Consulting Group after graduating with his MBA from the University of Chicago Booth School of Business. Jonas has had the good fortune to build, rebuild, and lead amazing teams across the multifamily and commercial real estate operational and strategic spectrum; orchestrate the sale of several businesses; develop a strategic plan for one of the world’s leading symphony orchestras; implement a Toyota production system; and create more than 40 brands. He is husband to Rosalind and father to Bailey, Zach, and Thea; an avid hiker; a lifelong learner; and a maker of things, sometimes out of wood.
About Dwellsy:
Dwellsy is the renter’s marketplace: a comprehensive residential home rentals marketplace based on the radical concept that true, organic search in a free ecosystem creates more value than the pay-to-play model embraced by all of the current rental listing services. Dwellsy has more than 13 million residential rental listings—more than any legacy classifieds site—as well as the most diverse set of listings, including single family rentals, condos, and apartments. Dwellsy’s entirely different approach to residential rental listings focuses on presenting houses and apartments based on features renters need and want, not based on how much landlords pay to show their listings. Dwellsy investors include Frontier Ventures, Ulu Ventures, Blackhorn Ventures, Heroic Ventures, Anne Wojcicki, and the University of Chicago. For more information, please visit our newsroom or find your next home at Dwellsy.com.
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