Seeking affordable rent? Zumper Spokesperson Crystal Chen shares valuable insights on Wealth!, offering three key strategies for prospective renters.

Chen’s first advice is to target winter for your move. This season typically sees lower rental prices. Secondly, she advises keeping an eye out for move-in specials. Lastly, Chen emphasizes the importance of thorough research. She recommends using “multiple search tools” to compare options and ensure you get the best deal possible.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Angel Smith

Video Transcript

While we got you, we gotta give people some, some actionable tips to really help find an affordable apartment.

What what are some of the mechanisms that they can deploy to make sure that they’re getting a good deal?

Yeah, so um the first one would be use seasonality to your advantage.

Um Winter is the best uh season to move since typically, property owners um tend to price down units to fill, to fill vacancies for the holidays.

Um And there’s typically the lowest competition and demand overall.

So if you’re looking for a good deal and you can move in the winter, um that would be the best time to snag a deal.

Um Also look for move in specials.

Um As I mentioned, there’s a ton of inventory hitting uh the US market this year, I think peaking at a 50 year high this summer.

So um a lot of new buildings are offering concessions like 2 to 3 months of free rent, um waived deposits and fees and free parking spots.

So, um that will significantly reduce your annual uh rental costs.

Um and also just use multiple source tools.

Um Zer is obviously a great source um since we’re all across the nation and in Canada, but using community boards or if you’re in an agent market talking to brokers, um could be helpful.

So you just um are as informed as you possibly can before um you commit to a long term lease, Crystal Chen, who is the Zer spokesperson.

Crystal.

Great to have you on here with us talking all things rents.

We gotta see what we can do about these New York City prices.

Too much.

Thanks so much.

Thank you.