Covid-19 has struck a huge blow to the real estate market and almost led to its downfall. Many apartment owners are facing the crisis of having lesser renters than average. Many people are not financially stable due to the pandemic, and so, they are avoiding costly tasks like moving to new cities.
Nashville has always been a city where thousands of newcomers are moving in different apartments. However, that is not the case now. For situations like these, apartment owners utilize various apartment specials that tempt and bring tenants. If you are planning to move, you should know about these offers. Let’s talk about this more below.
Introduction to Apartment Specials
Apartment specials are various offers, deals, or discounts struck by the landlords to attract renters. They do it when there is a lower number of tenants than the average or their expectation. Most of these apartment specials are very profitable for the renters, so it is wise to take the deals.
However, as a tenant, you should keep in mind that these discounts are for the purpose of making you sign the lease. So, you must keep your guard up and go through the contract thoroughly. Apartment specials are also known as move-in specials or rent specials.
Real estate is a profitable business that stays on top of the market most of the time. But if unexpected happens and the landlords are on the verge of having to sell properties, they may use the move-in specials.
Apartment Specials in Nashville, TN
Nashville is a large city with 689,447 people as of the 2020 US census. However, the place constantly gains new people from outside. Coronavirus slowed down this process. So, you are very likely to find rent specials in Nashville, TN. You can go one of two ways to find apartment specials in the city.
You can either hire an apartment locator. They will have a database and information on all the current apartment discounts. Alternatively, you can use various apartment-finder websites that notify you of the apartments with rent specials.
Various Apartment Specials
There are many apartment-special types that the landlords can strike. But it mostly depends on the situation and the location. Here is some example-
- No Application Fee- You won’t have to pay anything to opt for the rent. It is usually around $40 to $60.
- One Month Rent Free- The landlord may waive the rent of one month in the lease. It may even be more. But you get the picture.
- Security Deposit- According to the experts, this is the best apartment special to pop up. The amount of the security deposit is likely to be one month’s rent. But it can be more too. The security deposit can be waived in various ways.
- Lease Deals- Some apartment owners will offer various attractive deals on the lease. Some of them can be really profitable for the renters.
Conclusion
As experts say, you should only rent an apartment where your monthly earnings are three times higher than the rental cost. Keep that in mind even when leasing an apartment with great discounts. Some move-in specials are better than others. So, hiring an apartment locator should help as they are very experienced in the field.