You asked: "Pros and Cons to apartment hunting in Winter:

Your Name: David
Subject: Apartment Hunting in the winter
Message: My partner and I are relocating to NYC this Jan/Feb. Are there any obvious pros and cons to apartment hunting during this time of year? Our budget is around $2,500 and are hoping to find a one bedroom.
Thanks.

Hi David,

Thank you for your submission. SO- I get this question a lot and their are very specific pros and cons to looking for an apartment during the off season. (October-March)

PRO- Less people looking, less competition

CON- The reason less people are looking is because most students, new hires are moving after graduation or in their off time which is summer. This also means that there is significantly less inventory during the off months because so many leases in the city have a April 1- Sep 1 start date.  Less inventory means fewer choices

PRO- Less people looking, harder for landlords to fill their vacant units. This means that unlike high season there is room for negotiation on rent and brokers fees! (if you are using a broker) 

CON- Less inventory, means fewer choices. I reiterate this because it is a big point. The inventory rates in NYC are higher then they were last year so that is a current benefit of the market, but in general it is hard to find exactly what you are looking for in NYC. The neighborhood, amenities, being near the train, pre-war, post-war, elevator, laundry, space, price... it is such a complicated formula to what makes a person really happy with a home here and not having the abundance of choices during the summer though more costly, is a frustrating and taxing process.

My suggestion for you since you know you are all ready looking for a Feb 1 move in date is to start checking things out now. Go to all the no-fee management companies web pages and see what they have coming available, also familiarize yourself with the companies you like. The ones that have the neighborhoods and pricing in your range. This way you can also call them directly and maybe even put yourself on a list in advance for units in February.  You will also know what they need in terms of paperwork so you also can get that in advance.

Fortunately for you, $2500 for a one bedroom in NYC is very, very doable. If you would like specific companies, follow up with me and let me know neighborhoods.