When do people start typically looking for apartments?

[internalmedicine]

I've never rented an apartment before, but come this August, I'll be needing to rent one for med school. When is a good time to start looking? Is now too early? I'm thinking that most apartment owners might not know what units will be available yet? Or is there usually a rush in summer? Thanks!

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[cliquesh]

Sooner is better than later. The rush, in my experience, usually starts in April, especially if your school is in a city with other colleges.

 

[Roxas]

I've never rented an apartment before, but come this August, I'll be needing to rent one for med school. When is a good time to start looking? Is now too early? I'm thinking that most apartment owners might not know what units will be available yet? Or is there usually a rush in summer? Thanks!

Yeah it never hurts to let them know now. Most apartments near medical schools are familiar with the flow and have waiting lists, so try and get on now if you can.

 

[Chillywilly]

Ok most importantly how are people paying for these apartments without a job? Do people have money saved up or is that coming out of loans?

 

[internalmedicine]

Would any apartments hold a lease from today though if I won't be moving in for ~5 months?

 

[Elevencents]

Would any apartments hold a lease from today though if I won't be moving in for ~5 months?

No. You can get on a waiting list but most places will tell you to call back a month or two out because there are too many variables due to not knowing who is renewing.

All that you are doing now is deciding where you want to live, not actually taking steps to solidify it.

 

[Roxas]

Ok most importantly how are people paying for these apartments without a job? Do people have money saved up or is that coming out of loans?

Usually the latter. Both schools I interviewed at had financial presentations where they said their tuition is like 45k, but give you a budget for everything and have a final number you'll need to borrow that is like 65k. My wife is going to look for a job as soon as we get there though to try and bring that number down a little bit.

 

[Elevencents]

Usually the latter. Both schools I interviewed at had financial presentations where they said their tuition is like 45k, but give you a budget for everything and have a final number you'll need to borrow that is like 65k. My wife is going to look for a job as soon as we get there though to try and bring that number down a little bit.

Keep in mind tho, you need some cash in hand when you move for deposit and first month rent because your disbursement doesn't occur until several weeks after classes start (typically).

 

[Roxas]

Keep in mind tho, you need some cash in hand when you move for deposit and first month rent because your disbursement doesn't occur until several weeks after classes start (typically).

Good point

 

[Chillywilly]

Usually the latter. Both schools I interviewed at had financial presentations where they said their tuition is like 45k, but give you a budget for everything and have a final number you'll need to borrow that is like 65k. My wife is going to look for a job as soon as we get there though to try and bring that number down a little bit.

Okay let's say 65k isn't enough (after tuition and rent is taken out) for food and other needs... Are you allowed to take out another loan?

 

[LaughingMan]

Okay let's say 65k isn't enough (after tuition and rent is taken out) for food and other needs... Are you allowed to take out another loan?

You can get federal loans up to the Cost of Attendence, so if 65k is your CoA, I believe that is your max for federal loans (someone correct me if I'm wrong).

You can also take out private loans and exceed this amount. I also implore you to begin your search for apartments now. I started 2 months ago. Other students already are.

 

[plateletfactor5]

I think it sort of depends on the area and the school, for Maine/UNECOM there is housing that is being shopped now but it is mostly people with seasonal houses which means that you cant stay through the summer. The seasonal houses are usually nice but definitely focused toward groups of students who will only be around for the off-season (non-summer) months. For me as a Maine resident looking to move closer to school and actually stay in the area throughout the year I have to wait until May or June.

In short, figure out your needs in terms of if your are planning on staying year round or just through the academic year....and then see if you can find a place that fits your needs ASAP.

 

[TreadLightly]

You can get federal loans up to the Cost of Attendence, so if 65k is your CoA, I believe that is your max for federal loans (someone correct me if I'm wrong).

You can also take out private loans and exceed this amount. I also implore you to begin your search for apartments now. I started 2 months ago. Other students already are.

What are you going to do when you find a place? Unless it's some fancy sought out place with a waiting list, everyone is just going to tell you to check back when you actually *need* it. No one is going to hold a place for you for 5 months.

At least that's how it works in so-cal (not LA)

 

[LaughingMan]

Yes--I will just explore my options--find a place I'm comfy with--then try to snag it. If not--I'll move to number 2. I found a place I like in Corvallis--so if Cascade doesnt work out--thankfully I'll have a backup.

 

[Warnerade]

Sooner the better...I know myself and numerous people I will be attending school with already have our leases signed for next year.

 

[misseskwee]

Sooner the better...I know myself and numerous people I will be attending school with already have our leases signed for next year.

Wow really? And when does your lease start? July? August? The landlord is keeping the place open for you?

 

[Warnerade]

It's an apartment complex and people have their lease ending who do not plan on resigning theirs basically, so we sign the least and move in when they move out. It starts in July.

 

[misseskwee]

It's an apartment complex and people have their lease ending who do not plan on resigning theirs basically, so we sign the least and move in when they move out. It starts in July.

Ohhhh gotcha. Thanks, will look into that.

 

[kami333]

It's very area dependent. Around college towns it's not unusual to start looking in the fall and have a lease signed by the end of the year with the lease starting in July/Aug. Then you have the opposite, places that don't open up until the tenant gives their 30day notice to vacate. Either way it's good to start looking and doing your research now so at the very least you can get a feel of the areas and what's available. If the school has a FB group that's a pretty good way to ask around.

 

[68quebec]

apartment rental fee will be different depending on the time you start rent. for example, i m trying to move to apartment near Duke university and their current (feb) rent for one bed room is around 850. however, from june to august, this will be increased by 100 more. being waitlisted doesnt guarantee the price difference either. however, its still better than nothing. usually waitlist is good for 4-6 months, so you should look into it pretty soon or even now

 

[ninjaman22]

I wonder what the students do when they get an email of acceptance in June or something from their top choice.

 

[coolingglasses]

Now-ish. I got my current place last March.

 

[blixxex]

I just don't know when to find a roommate

 

[EMDO2018]

What if you sign a lease for an apartment near one school, then you get off the waitlist at your number one choice? Are you stuck paying for that lease?

 

[Warnerade]

What if you sign a lease for an apartment near one school, then you get off the waitlist at your number one choice? Are you stuck paying for that lease?

Check to see if your landlord/apartment complex has something setup for this. The apartment complex I signed at allows someone to sign the lease from you and basically take it over. If it is early enough I doubt it would be an issue due to the amount of people looking for a residence every fall.

 

[touchpause13]

This thread makes me super happy we bought a house lol