Below are a few quick observations for those looking to rent an apartment during the “off-season” months of May, June, July, and August in Boston – all squarely impacted by the COVID-19 pandemic and subsequent government restrictions.
- Apartments are still coming on the market, but in-person showings are very limited. Most agents are posting video tours on YouTube. Renters should expect to have limited physical access to apartments – potentially only seeing it in-person after getting an application accepted.
- Move-in dates may become flexible. As landlords ensure a thorough, professional cleaning on the changeover, you might not be able to move in on the 1st of the month or might have to move out early.
- Price flexibility may exist in some circumstances. As lease termination date approaches, a landlord might be willing to drop the price especially of the applicant works in an industry less impacted by the virus.
- Renters with stable jobs and good credit scores will have success in securing an apartment. While this is typically the case, landlords will be more selective in taking credit risk as they enter into a new 12- or 15-month lease agreements.
- Inventory may be lower as tenants, unsure about their future financial situation, sit tight until things settle down for them.
- Movers are essential businesses but they’re also in high demand. Once you sign a lease, you should secure movers because its tough to have friends help you move without violating physical distancing guidelines.
- Real estate agents are still working for their clients and are following physical distancing guidelines to ensure everyone’s safety. Blackacre Properties agents are equipped with PPE and hand sanitizer at all times.