3 Reasons Why Now is the Best Time to Rent an Apartment


Looking for an apartment in Chicago with an August move-in date?  Whether you’re a student starting classes soon, relocating to the Windy City for a job, or a Chicago-veteran looking to explore a new neighborhood, the August rental market is ready for you. Here are four reasons why now is the best time:

  1. Lower Rental Prices

We are dipping our toes into a slower rental market in Chicago, which means demand for new leases is starting to decrease and prices are slowly (but surely!!) starting to drop. If you’ve been looking for a deal on an apartment, now is the best time for you to explore our available inventory within your budget (click here to find the best apartments with August move-in dates).

2. More Inventory, Less Competition

The Chicago rental market can be notoriously competitive, especially during the peak summer months. Many rental properties will receive multiple offers and applications within 24 hours of listing. The good news for you is that as rental demand decreases, not only do prices drop, but so does the competition. While you would have to compete against 10 other applications a few weeks ago, now you may only have to compete with two or three.

3. Rental Concessions

We are noticing more and more landlords and buildings offering rental concessions. What does this mean for you? Rental concessions are incentives that landlords offer to attract or retain tenants. Common examples are free month(s) of rent, waived application fees, or discounted move-in fees. Whatever the concession, it means more money in your pocket spent enjoying Chicago’s incredible food scene or upgrading your home furniture. — link to blog explaining concessions

If you’re in the market for a new apartment, or if you know someone who is, send an email to rent@apartmentsource.com. We have a library of inventory waiting for you to explore so you can #findwhatmovesyou.

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