The spring feeding frenzy for apartments, flats and houses has arrived, and it may be a daunting task for students to find a place to live for next year.
In accordance with a new renting ordinance, apartments and other units could not be shown to prospective renters until after Dec. 15. Although this causes fewer headaches for students wishing to renew their leases, it makes uncovering the perfect apartment more difficult, with every student on campus looking for his or her new apartment after that date.
Steve Brown Apartments said they have already leased over 70 percent of their holdings and expect to rent all apartments by the end of April.
Madison Property Management said they have only signed 84 out of 1,100 total units to be rented before the fall, and Cameron Management Inc. reports there are still 94 units remaining out of their yearly 173.
Tallard Apartments said they have leased 65 percent of the 210 units they own, but renting will continue through the spring and summer.
“[There are] always a few stragglers in late July,” Peter Lemberger of Tallard Apartments said.
Students worried about finding a place to live within their price range should be aware that while rent prices are not necessarily cheap, there is no set range for prices. No renting company would quote an average price, but said rates vary depending on the unit.
The UW-Madison Campus Information and Visitor Center lists the average price for a one-bedroom apartment in the 2001-2002 renting season as approximately $602 per month, but can be as low as $450 and as high as $825.
The center also lists the average monthly rent on three-bedroom houses as $1204, with a range from $900 to $1650.
While rent prices are not set in stone, and generally increase slightly each year to account for inflation, lower rates can be found if the apartment hunter is willing to spend some time looking for the right place, Tenant Resource Center program director Megin Hicks said.
However, people looking for the cheapest rent should not wait until the last minute, property owners said.
Madison Property Management does not consider lowering their prices until August, assuming they have units left. A spokesman for Steve Brown Apartments said they evaluate the lowering of rents only on a “case-by-case basis.”
Tallard Apartments has a policy similar to most property managers.
“[Tallard Apartments] generally considers lower rents on a case-by-case basis, [but] don’t start that process until late July,” Lemberger said.
Potential renters should be aware of their options and examine the apartment thoroughly before making any commitments, Hicks said.
“Students should check out the landlord, ask questions of current residents and talk to people who live in the rest of the building [before they sign the lease],” she said. “Don’t feel pressured to sign a lease right away. There are still plenty of smaller size apartments remaining.”