3 Keys Factors that Affect Rental Prices

3 Keys Factors that Affect Rental Prices

Cost to live at a Homecoming at Lewis Apartment Communities

There are 3 key factors that affect the price of an apartment for rent in California, and subsequently in the Inland Empire.

The answer, and the truth, is that the cost of an apartment or townhome depends on a number of factors. Consider the three factors below when you’re searching for an apartment to ensure that you get the best possible price for your ideal Lewis Apartment Community:

1. Lease Term

First, the cost at ANY Lewis Apartment Community will change based on the term of your lease. For example, a 12 to 14 month lease will generally cost you less than a 3 to 6 month lease. The reason is that the longer a resident stays in an apartment, the lower the annual cost is to prepare that apartment for the next resident. Therefore, you will receive the best lease price by choosing the longest lease term offered that best fits your living needs.

2. Move-in Date

The second factor that can influence how much any apartment or townhome costs is your move-in date. The sooner you can move in, the better chance you have of getting the best price available. Move-in date exemplifies the law of supply and demand. The longer you wait to rent an apartment, the lower supply we generally have, and the higher demand we receive from people who want to live here. So what can you do to lock-in the best price? After you decide you want to live in a particular apartment or townhome, be prepared to set the move-in date for as soon as possible. This will give you a better price on your monthly rent.

3. Amenities

Finally, pricing for luxury apartments and townhomes varies based on the amenities that the community offers to their residents. Everyone who has ever looked for an apartment can immediately tell you the difference between an apartment community that makes you say “Wow, I want to live there!” and the one that makes you feel like you need to get out as fast as possible. Generally, we get a gut feeling about a community based on the cleanliness, the landscaping, the friendliness of the staff, the amenities, and the overall floor plans.

In Summary

Here’s a brief recap. Consider the following for the best price of an apartment or townhome at a Lewis Apartment Community:

  1. Look for a longer lease term,
  2. Be prepared to move in as soon as possible,
  3. Find a community that provides the amenities and activities that best enhance your lifestyle.

For the latest pricing on any Lewis Apartment Community visit our website

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About the Author:

Rosemary is the Digital Marketing Specialist for the Lewis Group of Companies - one of the nation's largest privately held real estate development companies.