Whether you are moving out of your childhood home for the first time, moving to a new city for a new job, a college student living near campus or even just moving to a different neighborhood in your town, signing a new lease can be a stressful experience. Agreeing to a year (or longer) contract for a home that’s new to you is a big commitment.
Technically yes, you can sign a lease for a new apartment as far in advance as you wish. Several months if that’s your desire. But should you?
When it’s time to start looking for that new place, how soon is too soon to be signing on that dotted line? All things considered, when do you sign a lease for an apartment?
Determine when you’re moving out of your current place
In knowing when to sign a lease for an apartment, the first step is knowing when you are moving out. What is your current lease, real estate or familial situation?
If you’re currently in an apartment or rental, your landlord will most likely want you to decide to renew your current lease about 60 days before its end date. If you are certainly moving out or away, the sooner you tell your landlord, the better. It gives them time to re-rent your place seamlessly. It also builds trust if you need a recommendation for a potential new landlord. As well, many leases specify a deadline for renewal notification.
But if you’re currently in a house – either yours or someone else’s – your move-out date may be determined by circumstance or mutual agreement. Even in those situations, two months ahead is still a good guideline.
When do you sign a lease for an apartment?
The earlier you know your situation and moving date, the sooner you can start looking for apartments. But just because you’re looking several months ahead of time doesn’t mean you have to sign a lease several months ahead of time. This is particularly true if you’ve already paid your last month’s rent when you signed your current lease.
All things being equal, the ideal time to sign a new lease is about a month before your move-in date. Specifically, experts say the best time to sign is 20 to 24 days before moving in.
Why this timeframe works
From a practical standpoint, that month ahead gives you a concrete moving date as well as a confirmed place to go. That may seem obvious, but it’s important. Most people need a definitive plan. That month then allows you enough time to plan, pack and move. It’s a timeframe to pick a moving company (or reel in your friends to help). And if you’re moving to a new city or an unfamiliar neighborhood, it is also the period for you to acquaint yourself with your soon-to-be new territory.
So why is about a month before move-in the answer to when you sign a lease for an apartment? Like any schedule, it strikes a balance between too soon and too late.
Signing too soon
If you sign your lease too early, you’re limiting your options. Your dream apartment in your dream location might not yet be available or listed. And now you’re tied to your new lease pining away for that great apartment you didn’t see until it was too late. And as mentioned, most leases have a 60-day renewal decline clause, so you can figure that’s when most apartments get listed.
It’s also possible that you could miss out on rent deals that come by later, or even a deal in lease asking price. Your new landlord has no obligation to give you a rent reduction if they drop prices on similar units after you sign your lease.
In many scenarios, signing a lease early doesn’t allow you to defer starting rent payments until you actually move in. If this is the case for you, signing too soon might leave you with two rents to pay concurrently for multiple months.
Signing too late
Most pointedly, signing too late gives you very little time to finish prepping, packing, finalizing and moving, as mentioned above. Moving is stressful enough, you do not want to make it even harder on yourself.
Once you find an apartment you like, hemming and hawing or going back and forth leaves you little wiggle room. If you hesitate on that great but maybe-not-perfect apartment, you might lose it entirely and wind up with less and worse. Until your name is on that lease, it is up for grabs to the highest bidder or any candidate. The closer it gets to the first of the month, the more competition you will face for a good apartment. Also, any current deals the property is offering now may expire on you if you wait too long.
But more functionally, waiting until under three weeks or so to sign your lease throw the balance between you and your landlord in their favor. Rushing to sign your lease last minute leaves you more open to being scammed by unseemly landlords or deceitful brokers.
And if your background checks or payment clearance takes too long, your move-in may be delayed. If you have a current lease coming to an end, you might wind up without a place to stay.
How to prep to meet that deadline
So how do you plan before the month ahead to meet the month-ahead deadline? There are plenty of other tasks that start weeks or months before that month before move-in that require your plan and attention.
First, you will need to plan when to begin your new apartment search. Give yourself the time you need prior to that to search for a new place, visit and tour (in person or virtually) and choose the right apartment for you.
Only you will know how long that will take you – from a couple of weeks to a few months – depending on your situation and personality. Before even starting, determine a self-imposed drop-dead date of when to make a final decision on an apartment in order to sign your new lease in that timeframe.
Then you must consider the time it takes to finalize your living arrangements. Once you have chosen your next place, you will need a couple of weeks (your mileage may vary) to negotiate a rent price with the landlord, and for them to have time to run your background checks and credit and income history and contact references.
After all that is complete, that’s when it is time to sign your lease. If all goes well, you will have given yourself about 20 to 24 days after signing to move in.
Keep in mind, some landlords will require a first-of-the-month move-in date while others are more flexible.
Other factors to consider
One exception to the one-month rule is for month-to-month leases. These types of rentals often cater to people who are in a hurry or in a condensed timeframe.
The lower commitment can collapse the time needed. Month-to-month apartments can be ready for move-in in just a few days. They also require fewer background checks on you. Those leases can be finalized very shortly before you would move in.
Another is for college students renting off-campus. Depending on the circumstances, students who know they are coming back to campus might want to sign a lease several months ahead of time (if rent payments don’t trigger until move-in).
Competition is fierce, and lease prices often usually go up closer to the start of a semester. Lock your lease and your rent price in when you can if your plans (and finances) are secure.
The right time to start looking is now
While the best time to sign a lease for an apartment may be a month or so ahead of your move-in, that doesn’t mean you can’t start looking for that next apartment right now.
When you know where you want to head to next, check out all the great listings on Apartment Guide and start your next moving journey.
