Renting Tips for the Winter Months

Renting Tips for the Winter MonthsIf you are an experienced apartment hunter, then you are already aware that winter is off-season in regards to renting. There is a huge influx of people moving from May to September, and it starts to slow down in October. By December, many rental brokers even take long vacations because they feel there isn’t enough demand to stick around. However, keep in mind that if you have time on your side, renting in the winter is probably the best time of year to look.

Negotiation

Competing with fewer applicants can mean lower rents and greater ability to negotiate. If a rental is listed at $3,500, don’t low ball for $2,500, but try asking for $100-200 less, which is much more reasonable. There are those who have negotiated $500 off, but that’s probably because it was a much higher rental.

Winter is an excellent time to look for co-op or condo rentals as individual owners tend to be easier to negotiate with and actually care about who is living in their apartment. If you’re kind and a seemingly well-behaved (and not planning on hosting large parties), they will want to rent to you over someone who could pay more.

Accidents occur when least expected, and landlord disputes can arise out of many things, so Connecticut Renters Insurance should be secured as you begin your search. Many landlords will even require renters insurance.

Less Demand, Less Inventory

Since people don’t tend to move in the winter, this can really work in the renters favor. Looking for a rental in winter is actually a leisurely experience as compared to the summer sprint in which you have three days to run around and try to find something.  Take a few months to look around for the right place to pop up. If you want to break your lease, be smart and read your rental lease agreement to see what penalties you might face. Don’t hesitate to speak with your landlord and ask how much time you need to give them if you want to leave early, or to get permission to find your replacement, to avoid penalties.

Preparation

You still need all paperwork and monies ready to go.Just because there are less people looking doesn’t mean a careless application will be accepted. Landlords will still want the following:

  1. First month and security (available as a cashier’s check)
  2. Letter of employment (length of work and salary or letter from an accountant)
  3. First two pages of last year’s tax return
  4. Proof of Connecticut Renters Insurance
  5. Two pay stubs
  6. Two bank deposits
  7. Copy of your photo ID

 

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