Tag Archives: September 1

Relocating to Boston: How My Brain Had No Part in the Decision

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Deciding to leave your hometown for a new one is a big decision and takes a lot of planning, none of which I did when I relocated to Boston. I relocated without much thought of what I was getting myself into. For those of you about to relocate to Boston, I would like to share with you a few things I wish I knew when I uprooted my life and made the move across the country.

I’m originally from Los Angeles, CA and I was often asked, “Why did you relocate to Boston?” I would say it was for a new adventure, I wanted real seasons, or I was tired of driving everywhere and wanted to live car-free. But the real reason was a boy. Yes, I am a hopeless romantic and, yes, it was the best move I ever made. My boyfriend had to move back to Boston and I came with him, his dog, and cat. I was lucky that he already knew the city and I relied on him entirely for what Boston neighborhood to live in, how much we could spend, how to find apartments…everything.

Relocate to Boston with Dog

Now that I’ve lived here for 4 years, the first year in Beacon Hill and the last 3 years in the South End, I wish there were a few things I knew before I relocated to Boston. One thing in particular was that the majority of Boston rentals are on a September cycle. We were looking in July for an apartment in August that would accept both a dog and cat. So not only was there limited inventory, we added the extra hurdle of needing a pet-friendly apartment. Fortunately, we did do our research, set up appointments with both owners and brokers, and were able to find an apartment in Beacon Hill.

Another surprise was the upfront cost of renting an apartment in Boston. Legally owners cannot ask for more than first month, last month, one month security deposit, and cost for a new key and lock. With Boston being one of the top three most expensive cities to rent, most owners will ask for all of it. If you use a Realtor, expect to pay another month’s rent for their fee. Sometimes the fee can be split with the owner, but Boston is an owners’ market and most owners do not need to split the fee because they know another renter will be willing to pay the fee in order to get the apartment. Not much would have changed if I had known beforehand about the upfront costs but I would have liked to not been blindsided.

I was lucky when I relocated to Boston because I had someone with me that had an idea of what we needed to do. If I had done it alone, I know it would have been too overwhelming. Fortunately, since I became a Realtor, I am now in a position to help with relocating to Boston with the full understanding of how hard it really is.

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Renting Your Home that has Not Sold

If your property has been sitting on the sales market for a while and you have already moved, you may want to consider renting your home. A tenant’s rent payment can pay for the mortgage, which can take off the pressure that might cause you to make rash financial decisions. You may decide in the end to keep the home as an investment property or you could wait until the market improves to sell your property.

The housing market has been on a roller coaster to say the least and Boston has not been immune. Rental property in Boston continues to be in high demand. But before you decide on renting your home consider a few things.

When to start the lease is an important factor to consider. September 1st has the most turnover of any date for rentals in Boston and any time between the spring and September 1 is considered to be “in season.” Winter is the worst time for renting your home because less people are looking for housing at that time of year.

South End Brownstone that can be Rented Out while on Sales MarketBecause Boston’s rental market has such dramatic seasons, you need to factor this into your decision of how long of a lease you want. If you want to keep your home on the sales market, a short-term lease gives you the most flexibility but there is the risk of gaps in occupancy. Also know that most short-term tenants want their rental to be furnished. Fortunately there are many companies throughout Boston that will furnish a home for a monthly rate, but furnishing a condo or a house is not cheap.

To secure a long-term tenant, it would be best to commit to taking your property off the sales market once a lease in in place since tenants are unlikely to commit to the possibility of showing the property for sale and then having to move if a sale does occur. With a long-term lease you would be less likely to have gaps in occupancy and you can structure the lease length to work to your advantage. For instance, if you want to put your home back up for sale in a year, have the lease run until the end of January or February of the following year, so you can have it ready for the spring sales market.

You will also need to figure out a fair price to ask for renting your home. Like pricing your home for sale, the right price for renting your home can have it rented quickly. For the best insight into the current market, get the opinion of knowledgeable Realtors.

Renting your home can be a great option if isn’t selling, but it is important that you know what options are available and what will work best for you. For more information, contact the Realtors of Matthew and Alisa Group Real Estate.

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