Why Do Apartment Communities Offer Rent Discounts and Move-In Specials?

Author: Lauren Ross

apartment discounts

It’s tough living on a budget when the prices of goods, services, and homes continue to rise. Are you in need of new brakes for your car? That kind of maintenance costs money. Looking to eat a bit healthier? Your grocery bill just doubled.

Moving apartments as a price-conscious renter can be challenging. You probably experienced a rent hike at the end of your last lease – and what may seem like a small percentage number-wise (average rent increase is 3.18%, according to CoStar Group) can easily take you from a comfortable monthly payment to one that’s way over budget.

The good news is that apartment communities offer rent discounts and apartment specials for renters. Why do they do this, you ask? Well, the answer is really quite simple.

Apartment communities offer these discounts and specials to fill vacancies.

On your past apartment hunts, did you ever notice how summer was the (literally) hot time for moving? The summer months are a great time for people to move since the weather is more ideal for loading and unloading boxes, the kids are out of school, and there’s a lot of inventory available. The apartment rental industry has a term for this called “seasonality” – and while summertime has plenty of rentals to choose from, it’s actually late fall and winter where you’re bound to find the best deals on apartments.

The reason apartment communities do this is because late fall and winter are considered the slow seasons for renting. Finding a home this time of year puts you in a more favorable position for rent negotiations and affordable homes. And maybe for you it’s not so much about cheap rent as it’s getting more bang for your buck. Inquiring about perks might just be better for your situation than discounted rent. Some of the perks you might consider asking your property manager about include any available renovated apartments, ones with a new kitchen or appliances, or a garage to house your car. Property managers want to lease up their communities quickly, which is why you’ll come across apartments with rent discounts and specials for move in.

  • Discover deals on Apartment Finder no matter what time of year.

 With a city or neighborhood already in mind, you’re probably already aware of its hefty rent prices. Apartment Finder’s Deal Tool makes it easy for renters to discover more affordably priced homes in an otherwise expensive area. After selecting the tool on the neighborhood/city map page and your preferred number of bedrooms, you’ll see all the local apartments with lower rents for the same style floor plan. The renter search tool is really quite useful and can help you save!

  • Ways to use your savings and incentives. 

Whether you scored a less-pricey pad or awesome concessions out of your lease, you just landed yourself a great deal on an apartment. There’s a lot you can do with the extra savings and incentives such as:

  1. A much-needed getaway.

It’s no breaking news story that vacations cost money. Put your monthly rent savings away each month so you can splurge on yourself!

  1. Enjoy cooking again.

Now your love of cooking probably never left you. However, cooking is a little more enjoyable when you have an up-to-date kitchen. If you were able to score new appliances – or a new countertop – you’ll enjoy your time creating new and delicious recipes.

  1. Eat greener.

Yes, like actually eating more greens. Eating healthier is good for the body, but can also make your wallet sad. With those extra savings, you can now afford more fruits, vegetables, and whole grains for a leaner diet.

  1. More storage.

If you’re able to get a garage included in your lease, you now have a covered area to leave your car. Or, you know, a bigger storage closet for your knickknacks and holiday décor.

These are just a few ways to enjoy your extra savings thanks to apartment specials and perks. When budgeting for a new apartment, don’t forget to add in the fees, deposits, additional expenses like utilities, and discounts into the apartment’s total cost – Oh wait, you can do that on Apartment Finder’s Cost Calculator! Happy apartment hunting!