All You Need to Know Before Starting Your Apartment Search

If you plan to lease a new apartment, these apartment-finding tips will help ensure you're on the right track.

Your apartment checklist

Looking for a new place can be overwhelming, consume a lot of time, and — with so many options out there — leave you feeling lost or unsure where to start.

Your first step is creating (and following) a checklist. It's a great way to compare all the options you saw and evaluate which one fits your needs better. Here are some popular categories to look at — add your own specific wants and needs, but this gives you a great starting point:

1. Location: Make sure the neighborhood is a place you'd be happy living. Consider what you like doing outside, which activities are nearby, where your favorite restaurants are, and how close it is to work.
2. Apartment features and finishes: Decide what you want in your unit — stainless steel appliances, floor-to-ceiling windows, lake or city views, a private balcony, and which sun exposure the unit has (if you have plants, you'll understand this one).
3. Building amenities: List the amenities you want in your new building. A dog run, parking, EV charging, a fitness center, and a business center may be non-negotiable. Some buildings have basketball courts, golf simulators, and tennis courts — add them all to your wish list.
4. Safety: It's critical to feel secure at home, so look into the safety features your unit or building provides: secure entry systems, doormen, or other measures.
5. Apartment policies: Before signing a lease, make sure the building policies match your needs — lease term, decorating, subletting, and pet policies.

The apartments you view may not check every box, but a checklist will help you determine which home hits most of your requests.

What should your timeline look like?

Everyone's apartment hunt is unique, but a timeline helps you get the best deals and good options — the Chicago rental market is fast, and you don't want to start 10 days before move-in and find nothing you love.

As a general rule, start looking about 60 days before your current lease ends. At this point, focus on budgeting, researching, and building your checklist.

Between 30 and 60 days before moving, tour your prospective apartments and apply for the units that interest you. Apartment communities take a unit off the market once you apply, but condos will not — so have a plan B (and C) if you apply for a condo unit.

As soon as you're approved, book movers. To make the process easier, slowly pack up items you don't need in the interim (and donate what you won't use).

15 days before move-in, make sure everything is ready to avoid last-minute stress: transfer or schedule utilities, book the service elevator, and confirm your move-in day and how you'll get keys.

During the last week, wrap up your packing and final steps, like changing your mailing address.

What costs should you consider beyond rent?

Most apartment communities have extra costs worth asking about:

• Utility package: Some properties add a utility package on top of rent for water, sewer, and trash; others also include electricity, internet, and cable.
• Pet fees: Some properties charge monthly pet rent.
• Parking: In Downtown Chicago, parking is usually on top of rent — expect roughly $200 to $300/month for a spot.

Why do apartment prices change daily?

Just like airline tickets change with supply and demand, so can rental prices. The Chicago market moves frequently, and that's reflected in pricing. A few common factors:

• The time of year
• The time of the month
• The day of the week
• Dynamic pricing software
• A strong growth market
• Location

When is the best time to rent?

Timing affects cost. If you want the broadest selection, the end of summer is great. If you want the best deals, you'll generally find the lowest prices in winter — February and March. You may not love moving with snow outside, but facing the cold will likely save you money.

What is a rent concession?

As you hunt, you may run into rent concessions — incentives a property manager or landlord offers on lease terms to attract tenants, often when they anticipate or have empty units. The most common types:

• A free month of rent (or more)
• Discounted monthly rent
• Reduced security deposit
• Renovations and upgrades
• Free amenities
• Move-in fee credit
• Waived pet fee
• A free month of parking

Ready to put these tips to practice? Connect with us today and we'll do the searching for you.