Saving Money In The Apartment Hunt
Today, our news is flooding and overwhelming every news medium of the same theme, the recession. Journalist, blog writers and every other person in between are talking about how the economy has had an impact on everyone. The housing market crash, declining stocks and the large loss of jobs are a few examples of a many impacts.
I do not want to further discuss these dismal effects as many are still facing them. But, I do want to try and look on the brighter-side of things for a small relief.
The economy has impacted almost every industry, including the multifamily industry. This means property managers are competing more for your business by lowering prices and offering more. Property managers are trying to avoid losing additional money by having you fill their vacancies.
Since many properties are competing to fill these vacancies, residents have the benefit of bargaining for lower prices and better amenities. When looking for lowest price available, jump online and start comparing. With many internet listing services, you can find thousands of apartments almost instantly.
During your research, keep track of apartment specifics like number of bedrooms, amenities, and square footage in order to compare other apartment communities accurately. When walking-through an apartment, keep a notebook to take detailed notes for future reference. The information you compile can be tracked using an Excel spreadsheet.
Also, take time to search apartments that are slightly more expensive. It may seem like an odd suggestion, but often leasing agents are willing to work with you. Review your notes and comparisons to determine any differences between apartments that are slightly more expensive.
If you are unable to notice large differences, call and talk with the leasing agent at the community. Express your desire to rent one of their vacancies, but tactfully explain the price range of other communities nearby for similar amenities, square footage, etc. Often, leasing agents are willing to discuss options for your business.
During the negotiating process, keep in mind that property managers want stable residents. Talk with them about your desire to rent for a few years and not just a few months (but only if that is really the case). Remember, always be honest, and for now, enjoy one of the few benefits of the recession.
About the author: Henery Drake Can help you if you are looking at Lowell MA Apartments. If you are looking at moving to Massachusetts, check out the lowell apartments, it may be the last place you have to look.
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