Fluctuating Rent? (Denver: apartment complexes, renter, landlords)

[MissMegs228]

Hi,
I just got admitted to J&W, and I'm thinking of enrolling at the Denver campus. I came out there to visit for the first time last month, and it (both Denver and the campus) was nice. I have friends who moved out there recently, who told me that the rent fluctuates, which I didn't quite understand. For example, if I choose Denver, I'd be moving sometime this summer. They tell me that I can't really inquire about rent now because it could be different if I ask now versus what it'll be in, say, July. Is this generally the case? I understand rates change, but to be unable to get a decent quote until a month out from moving time sounds odd to me. It's a bit off putting when trying to work out a budget.

[2bindenver]

I would guess that the cost is rent plus utilities. Rent is specific, utilities are fluid.

[insahmniak]

When we rented an apartment in central Denver in 2012 we were told the rates fluctuate a bit seasonally. For example Feb was a better time to rent because of slightly diminished activity/demand. Not a common time to be moving. Rates tend to ramp up more come May and esp in fall as people are settling down for the year. But this was with a monster property management entity with many properties around Denver and in all major cities.

It wasn't a huge fluctuation, though. You can still get a good ballpark estimate. Then add a cushion because rental rates generally just keep going up at pretty steady clip. Be prepared for that.

If you have your eye on a certain place, I suggest calling about a month ahead to inquire about potential vacancies.

[cowboyxjon]

They may be referring to the corporate-owned apartment complexes. When I lived at one of those, the rent fluctuated on nearly a daily basis, because it was based on a number of factors like availability of units etc.

What that means, though, is not that MY rent fluctuated on a daily basis (my rental agreement locked in the amount per month for a year), but that if a new renter were to come in and rent a unit for $900/month on a Thursday, someone else might come in and rent another unit with the same exact specifications for $910/month on the next day. Hope this makes sense.

[Mid America Mom]

FYI - No rent control. No heat regs like Chicago or NYC. I would stay away from landlord provided utilities (heat / elec) . If you pay them yourself that takes away the argument for raising rent too much.

[davebarnes]

Originally Posted by Mid America Mom

FYI - No rent control.

Rent Control is one of the most evil creations by mankind.

[Willy702]

Rent will definitely change. Demand goes up starting around May through the end of July. So not only will rents be higher, availability will be much different. Also landlords will try to get you onto a schedule that works better for demand. So if you moved in say in March they might try to push for a 14 or 15 month lease while if you move in August they will often look for a 9 or 10 month lease to begin with. If you push for a different term they will adjust the price, especially in apartment complexes.

[KaaBoom]

Originally Posted by davebarnes

Rent Control is one of the most evil creations by mankind.

Yeah, if you are a landlord. If you are a renter it's a godsend.

[JD401]

Originally Posted by cowboyxjon

They may be referring to the corporate-owned apartment complexes. When I lived at one of those, the rent fluctuated on nearly a daily basis, because it was based on a number of factors like availability of units etc.

What that means, though, is not that MY rent fluctuated on a daily basis (my rental agreement locked in the amount per month for a year), but that if a new renter were to come in and rent a unit for $900/month on a Thursday, someone else might come in and rent another unit with the same exact specifications for $910/month on the next day. Hope this makes sense.

This is correct. Your rent is (obviously) locked in by the contract you sign for the term length, but new rental contract rates could easily change weekly, or even daily.

[MissMegs228]

Okay. That clears it up some. Sounds like I won't be able to do too much in advance. I'll just have to be diligent in my searches when the time comes.