Quick reminder for you. You have time. Please trust us.
One of the cardinal rules of real estate is when people are buying, you should be selling. When people are selling, you should be buying. This is one of the fundamental ways to become successful in real estate.
This basic sentiment also applies to the rental market. Market timing and availability for apartments has been moving up and up over the past 5-7 years. It’s always been very common to see college apartments become available in January for September leases. Hell, Boston College students sign leases for the upcoming year legitimately a month after they sign their lease in September! Nowadays, we are seeing more and more Brookline and non-student centric apartments hitting the market in Jan/Feb for June-Sept availability.
Here’s my point – if you’re looking for a non-student apartment for June/July/September and it’s February or early March, don’t panic. When you see apartments on the market for September in Feb/March and the agent is telling you that you need to make moves NOW NOW NOW, don’t buy into it. Not all landlords require their tenants to give 6 MONTHS NOTICE. Matter of fact, most of them do NOT.* Specifically the smaller management companies and one off landlords in areas that are not so densely student populated.
*Caveat- there are units out there that are priced BELOW MARKET VALUE. When you stumble on those, regardless of the market timing, it’s advised to strongly consider it. Those are the “unicorns” that pop up here and there and you should consider yourself lucky to have found one!
Kingston REM will be issuing a very special leasing partnership announcement in the upcoming weeks.
We will be showcasing some top notch, well-priced inventory from a REALLY GREAT landlord in the Brookline//Brighton area. Coming YOUR WAY very soon.
You have time. Don’t buy into the frenzy. You won’t be homeless. When there are very few apartments to look at, the supply and demand balance is skewed to the owners benefit and you’re going to pay a bundle upfront to move and not have any leverage. Chances are, if the inventory levels rise for your move date, you’ll actually be able to get a BETTER deal and have more to choose from.
The market has changed. The inventory levels are at an all-time high. If you play your cards right, you’ll be find yourself in the position where YOU will be desirable, not the apartment. And that’s a fine place to be.
Kingston Real Estate & Management