Posted on Sept. 5th, 2014
The New England’s largest real time real estate database BostonPads had recorded 5.1% of the real time apartment vacancy rate this August 2014. In just less than 15 days until immense resettlement of apartment renters on the September 1 move in date, there is still more 3, 653 available apartment units in the BostonPads.com this year. This is higher than the record last year in the Boston real estate market.
The 5.1% is based on evaluating the data of over 122,000 apartment listings, whether listed on the market or available for rent. Unlike the previous years, the apartment vacancy rate has been closer to the 2.5-3.0% range towards the end of August. BostonPads recently conducted study had actually recorded 5.6% at the beginning of the month of August.
There are many different theories about this greater vacancy rate average. But, good news for those who are still looking for a place to live this month of September, there are still great options available for you. September will most likely be a very tough month for rentals because many quality apartments will be available throughout the Greater Boston Area.
Although most companies have already started cutting prices while offering to pay for broker fees, you should look for highly regarded Boston real estate agent that can give you the most promising viewings of different apartments so you can have the best choices in just a short possible period of time.
On the other hand, for the landlords who still have available rooms this September, maybe it is time for you to try to work with qualified Boston real estate agent to help you get the best feedback and pricing alternatives. With their help, you will also know what is trending in terms of the top rents and other techniques that you can apply to get your apartments get rented. It may also be the perfect timing to drop your rent compared from last month’s. Many renters seek for much high quality units so you may also consider renovating your rooms and have it painted well for a more attractive appearance for the apartment seekers when they happen to see the actual unit.
The number of people who are searching for a place to move in Boston dramatically decreases during the Fall or Winter season. BostonPads website traffic also decreases as these people may have already found a place to live in. The last thing that a landlord would wish is to get their units vacant during this time. Landlords need to adapt quickly and come up with another strategy to make their apartments get rented. You should always be updated in negotiating and taking offers. Get in touch with Boston real estate agent regularly to know the updates. Also, you should learn on when is the best time to list your property in the market to get a maximum rent potential in the next coming year.
BostonPads is a premium database in Massachusetts connected with over 14, 995 landlords in the Greater Boston Area and continually providing people the best place here in Boston to move in.