Summer in NYC is traditionally the busiest time of year for renting apartments. Starting in May, new college graduates from across the country, job offers in hand, flood the city, along with a substantial number of current students looking for housing for the upcoming school year. This is exacerbated by the fact that recent transplants in this cycle all have their leases coming up for renewal at the same time.
Now that the busy summer season is over, rental activity in NYC will slow down for the next few months. Mid-November through December in particular, can be a real snoozer for landlords, as few people want to move during the holiday period. This presents an opportunity for savvy apartment seekers to get a (relatively) good deal on a rental. Once January hits, rental activity picks up significantly. (more…)