Hey, did you know that March is actually a great time to rent? Many people move during the summer time, when most leases are up, school is out, and people have time to take off work. What many people don’t realize is the high demand during the Summer makes for higher rent prices and a more competitive rental market. Renting in March offers a multitude of benefits for renters. Here are three reasons why March is a great time to rent.
1. Better Deals when You Rent in March
According to Dwellsy’s industry leading rental market data, national rent prices increase during summer months and decrease during the winter. Rental homes are typically their most affordable from November to March. This makes March the ideal time to take advantage of the last, most affordable rent prices before the yearly summer spike in rental costs. By renting in March, you may even be able to secure a rental home to move into during the summer time at a better price than if you were to wait until April or May.
2. A Better Time to Move
Though you may be able to find better deals during November and December rather than March, relocating during the winter poses its own issues and additional costs due to snow and inclement weather. By moving in the Spring, rather than peak winter, you can avoid potential weather damage to your property and dangerous moving conditions. You also ensure that you don’t have to deal with burst pipes, frozen gutters, icy driveways, and leaks upon arrival to your new home. Additionally, when you rent in March, you can save money on heating and utilities and focus on covering your security deposit.
3. Less Competition Renting in March
When renting in March, you avoid competing with the masses of people who move during the Summer. This increases your chances of both finding a rental that suits you and having your rental application selected. At Dwellsy, we have found that the first three to four rental applications submitted to a property have the best chances of being chosen as tenants. We found that the fifth applicant to apply to a rental property had a less than 6% chance of having their application chosen. That being said, anything you can do as a renter to minimize your competition and separate yourself as a renter will help you get one step closer to getting the rental you want.
The Ultimate Renting Tool
With Dwellsy Edge, you’ll get instant text alerts when the perfect rental for you hits the market. You’ll also be able to save your preferences so that you don’t have to re-enter them every time you search on Dwellsy. These features mean, whether you’re renting in March or May, you’ll have the best chance to be first in line when you apply to new rentals.
