When should I move: July, Aug, Sept or Oct? (Austin: apartments, rental market)

[peggy6542]

Hello,
I am planning my upcoming move and am trying to work out the details of timing and am hoping you can help.

I read several threads that said the later in those 4 months, the better, but that was just based on weather. I am wondering about the best inventory on the rental market.

When do college kids take up the apartments? August? Before? Or it doesnt really matter? Also, if I am looking at a $600-$700 1 br apartment, is there even competition with students in that price range? While $700 is CHEAP coming from Seattle, is that maybe priced a bit above the average $500 1 br or $900 2 br and would only be afforded by students with parrents fronting the bill? If so, how much rich kid apartment competition is there? (A lot in Seattle!)

I am really thinking late August/early September, but really want to set myself up for success. That is why I am planning on making a second scout trip to Austin to check out a few buildings and select one if they are already preleasing that soon. If pre-leasing is a big thing, how soon should I be looking for that time frame? (Also making myself go when it is SUPER hot to make sure I can handle it!)

Also, recently I have been seeing a lot of consessions-half month free, no deposit, etc. Is that only seasonal, or is that a sign of it being a renters' market?

Thank you for any and all positive & helpful comments/suggestions!

[centralaustinite]

Ha! It is definitely NOT a renter's market!

Students usually start their leases in August and pre-leases for August are being signed right now and throughout the spring. Usually only complexes and areas that cater to students do pre-leases.

Late August/early September is probably the worst time to come unless you are a student. It will be god-awful hot and U-haul rates, moving companies, etc will all have sky-high rates and low availability. You can get a jump on the students and move in July or wait them out and come in October, probably greater selection available in July but again remember that the rental market is red hot and supply relatively low especially in the price range you listed ($600-700 for a 1 br).

You need to work with a quality apartment locator! It is an established practice here and free to you.

good luck!

[OpenD]

It is a red hot seller's market in general, with very low vacancy rates, but there are periodic lulls, which is when the concessions come out. Rents have bumped up and up and up. 1 BR figure $700 - 800 now.

Also agree with previous about timing. Moving when it is 100 degrees at 9 am and incoming students have rental trucks jamming the parking lots is no fun. Late Sept to October will be cooler and have less competition for apartments and generally be more sane. But avoid the weekends of ACL Fest.