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Q. How much will it help if I wait til November to move? I know that late summer is high season, especially for relatively inexpensive rentals (my domain at the moment).
I can be flexible in my moving dates, so I'm wondering if I should just wait until the rush is over. Does it make that much of a difference?
A. There are benefits and drawbacks to waiting until November to find an apartment. The most obvious benefit is that you will have less competition for apartments amongst prospective tenants. This could lead to softer pricing and more negotiability as well as potential incentives like one month's free rent or a waived broker's fee.
However, there is also much less inventory available in November than in, say, late August or the beginning of September. So while you will have less competition, you’ll also have fewer choices. The best bet is to decide when you want to move and commit to the process at that point.
Mike Akerly is a New York City real estate attorney, landlord, and real estate broker. He is also the publisher of the Greenwich Village blog VillageConfidential.
Note: The information provided here is for informational purposes only. It should not be construed as legal advice and cannot substitute for the advice of a licensed professional applying their specialized knowledge to the particular circumstances of your case.