4 Tips for Finding Downtown Chicago Apartment Deals
While Luxury Living Chicago rents some of the most beautiful and luxurious downtown Chicago apartments, it doesn’t necessarily mean we don’t know where to find the best apartment deals in the city.
Often, our clients want to know they are getting the best bang for their buck. Other times, clients are looking to get a great deal and we help them find one.
Here are 4 top tips for getting a great deal on your next apartment:
TIP 1: RENT IN THE OFF SEASON
Typically there is a busy season for real estate in every city. In Chicago, the busiest time to rent an apartment is March through September. This is also when apartment prices are the highest. If you can time your apartment search to fall in the winter months, or not during peak rental season, you’ll likely get a better deal. Pricing in Chicago can be $200-$500 less for an apartment in the colder months.
TIP 2: WORK WITH A RENTAL BROKER
Sure, you can scour Craigslist, Apartments.com and other real estate websites all day long to try to find a diamond in the rough, but why not put your search in the hands of a trusted professional. A professional, experienced rental broker will know the local apartment market inside and out and knows where to find the values, specials and deals.
TIP 3: ASK FOR A DEAL
You’ll never know if you can get a deal if you don’t ask for one. Be sure to ask if any rental fees can be waived for deciding quickly on an apartment, or if a landlord or management company will offer a month free for having good credit scores and a strong financial background.
TIP 4: SECURE A LONG TERM LEASE
In some cases, the longer the lease term, the better the rent price. Landlords and property management companies reward tenants with a price drop for securing a lease longer than 12 months. For example, as an incentive a property might offer two months free for signing a 16 month lease, or one month free on a 13 month lease. Also, signing a longer term lease offers the tenant rent security. If you sign a 24 month lease, you know your rent won’t go up for two years.
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