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June 22, 2011

When Should You Start Your Corporate Housing Search?

by AvenueWest Managed Corporate Housing

Whether you anticipate a move in several months, or just a few weeks, timing is everything when it comes to your corporate housing or apartment rental search.

According to an article from MyFirstApartment.com, when to start your rental search depends on the city you are planning to move to.

When moving to Chicago, apartment broker, Aaron Galvin from Luxury Living Chicago advises his clients to start their search 45-60 days out from their intended move date.

New York is another story.  With a limited vacancy rate and high demand, your search should begin no earlier than 2-4 weeks prior to moving day. Apartments get rented very quickly and looking any sooner might prove fruitless.

In terms of a corporate rental, if you’re a tenant in need of housing, you don’t want to start your search for the perfect furnished rental too soon because you may not find an ideal property – as many properties turn over every 1-3 months. If you start too soon, you may miss out on a property that just came available. Also, corporate housing landlords may not want to rent out their properties too soon for fear of missing out on a tenant who can commit more immediately and for a longer stay. Remember, it’s not unusual for corporate housing landlords to construct deals just a week, maybe two, out. Their primary tenants, such as traveling business executives, may not know they need a rental property until a day prior and they want to be poised to deliver their property when needed to this attractive audience.

In any case – corporate or not – it’s good to remember that the best-priced properties rent quickly once they begin to be marketed, and availability dwindles as move dates approach.

Try to focus on where you want to live and solidify your budget. For traditional 12-month rentals, conduct your search as early as possible; however, for corporate housing, you have a bit more time to find the right rental – don’t rush it!

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