The COVID-19 pandemic has had a major impact on everyone. Since the pandemic started, people have spent more time looking for a new place than they typically would during an entire calendar year.
The good news is that even during the pandemic, the rental market is still busy. Therefore, those who are looking for a place during this difficult time should keep a few important tips in mind.
LOOKING FOR AN APARTMENT
During the COVID-19 pandemic, so much has moved online. Apartment hunting is no different. The process of looking for an apartment hasn’t changed all that much, given that most people still use the internet when looking for a place to live; however, the renting process has changed in that landlords are now offering safe alternatives when it comes to looking for a new place.
One method that prospective residents need to keep in mind is the prospect of using virtual tours. There are multiple forms ranging from pre-recorded videos and live tours. There are plenty of units available that provide this option and this is a great way for people to take a look at potential living arrangements while still maintaining social distancing.
For those who want to see a place in-person, there are still options available. Many landlords will leave the keys in a self-showing lockbox while trusting prospective residents to leave the lock the unit and leave the keys in the box when finished.
FINDING AN AVAILABLE UNIT
The good news is that it is still relatively easy to find an available unit online. This came as a surprise to many people in the industry. There is a lot of turnover in the rental industry right now and much of this is driven by finances as well as the stay at home orders.
For example, some people might have lost their jobs. They are actively looking for a new job, which could mean that they have to move. Other people are tired of being trapped in the same place and this has given them the itch to move.
Regardless of the reason, there are new deals taking place in the rental market during the COVID-19 pandemic. This means that it is relatively easy for people who need a new place to live to find a new place during this time.
PRICES REMAIN STEADY
For those who are a bit tight right now on their finances, another piece of good news is that the prices are staying steady and could be primed to drop in the future. While landlords do need to keep up with their mortgage payments, it doesn’t look like rental prices are going to go up anytime soon.
Often, landlords are willing to make a few concessions, such as a reduced security deposit, to help get leases signed. This is good news for anyone who is looking for a rental during the COVID-19 pandemic. This is a chance to lock in a lease at a lower rate.
FINDING NEW HOUSING DURING THE PANDEMIC
These are a few of the most important points that people need to keep in mind if they are looking for new housing during the pandemic. It could be a good idea to expand the search zone and look at the suburbs. There could be hidden gems when it comes to finding a new rental during the COVID-19 pandemic. As the rest of the country continues to grapple with changing times, the rental market is still active. This provides an opportunity for those looking for new housing.