Best Time of the Month for NY Apartment Hunting
Apartment Hunting – Photo by BKLYN guy on Flickr
Hey NY Hoppers,
People often ask us: “What’s the best time of month to look for apartments in NYC?” Let’s look at the options.
First Dibs: The general consensus is that it’s best to start looking one month before you move, as close to the 1st of the month as possible. Why? Most people have a lease that terminates at the end of the month, leaving apartments open starting on the 1st. If you schedule your search at the beginning of the month you’ll get first dibs on the best apartments.
Better Bargains: But wait! Here’s an argument for doing the opposite. As you close in on the end of the month, landlords desperate to fill vacancies are more willing to cut prices. After all, losing out on a month of tenancy would mean an 8% vacancy loss for the landlord! At this point the ball is in your court. You may not have your pick of the choicest pads, and you may be playing it fast and loose, but smart landlords should be willing to haggle if you’re willing to move in immediately.
Verdict: If you want your pick of the nicest apartments around town, hunt toward the beginning of the month. But if you want to be in a great bargaining position, search toward the end.