Rental Agreements Beginning In Summer Months Generally Cost More

June 20, 2019

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Think the rent is too high? Then you’ll want to avoid signing a new lease during the summer. A new report from Zillow Group finds that renting at the peak can cost consumers more than $100 a month!  Job growth, school schedules and even the weather can influence the amount of demand in the rental market, which often drives rent prices up during high-demand summer months. Parents looking to relocate their families will often wait until the summer months to avoid having to pull kids out of school in the middle of the year. Rental agreements for the upcoming fall semester in college towns, such as Gainesville, also increase the demand for properties and their rent. Some good news is that the rental peak is over, for the most part. Overall the rentals listed in May are the highest, followed by June and July.  The average rental in Gainesville is $1244, up 8% from last year. Rent in Ocala averages around $1,035, up 9% from last year. You can score a deal by making concessions to landlords, such as agreeing to a multi-year lease from the start. Doing this can also help prevent unexpected rent hikes in the future. And while property rentals are increasing across the country, the cost to buy a home has made renting more affordable comparatively in many parts of the country.

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SOURCE: MarketWatch

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