From May to August, the number of people moving to New York City increases drastically, and so you have less chance of landing your dream home in that time period. Here are the top three reasons to plan your move to NYC for the winter months.
1. There’s more choice
You’ll most likely find that the majority of property owners in New York City start and end leases in summer. But, apartments do come up in the winter months, and with less demand come more options when you’re looking for a place. Less competition can also mean more bargaining power, so if you’re looking for a deal consider waiting until the temperatures drop.
You’re also likely to have more choice with your move-in date because property owners will be more flexible with the terms of the lease during winter. Even if you sign a contract on December 10, you might be able to push your move-in date to January 10 which can potentially help you avoid paying rent on two properties at the same time.
2. It costs less
Because of the increase in demand during the summer months, prices tend to surge and you can pay thousands more in rent per year simply by starting a contract during the more popular months.
You can also save thousands on NYC’s notoriously high brokerage fees. If you’re planning on moving during winter, you might find that the standard 10-15 percent fee of the first year’s rent is paid by the owner rather than you in an effort to make their property more desirable to prospective renters. You can save thousands of dollars by being smart about your timing.
3. There are often incentives
Owners will often have to work harder to find tenants willing to move during winter, so they might offer incentives to tempt you into renting. They could be anything from gift cards and free appliances to a new paint job or flooring. It’s worth looking out for these money-saving incentives, and even suggesting them if none are offered with the lease.