During a time of the year when inventory is quickly flying off the shelves, you would think that the only properties on the market today are those with immediate or close to immediate move-in dates … and you would be wrong. We are finding that, particularly in the co-op and condo segments, properties are popping up with 2+ months of lead time (i.e. September and October availabilities).
Many landlords want to take advantage of the summer volume and tenant psychology to pre-fill their apartments with no down time in terms of vacancy and lost rent. Note to you renters: if you do choose to go this route and look now for apartments in the future, know that your pricing leverage is nil. Landlords are clearly collecting rent between now and then, and are in no rush to accept your lower-than-ask offer before they have to. That said, if the peace of mind of having an apartment in place 2 months from now is a priority for you, this summer may be kinder to you than in years passed.
