Boston is one of the most fun and exciting places to live, and with a huge range of educational institutions and work opportunities, it’s no surprise that many people every year are scrambling to find an apartment to live in. Due to the demand, renting in Boston is a challenging experience with a lot of moving parts, and understanding these nuances of the rental market is essential to get a leg up on the competition and make your transition smooth.
The Competition is FIERCE.
In Boston’s market, demand often outpaces supply, leading to intense competition for available properties. It’s not uncommon for desirable apartments to receive multiple applications within hours of listing, so it’s important that you act swiftly when you see something available. One of the best things you can do ahead of time to prepare yourself is to get your necessary documentation ready.
Most landlords will ask for the following from each applicant:
- A rental application
- government-issued ID
- proof of income for working professionals OR
- proof of enrollment for students
In addition, they will ask for the following from each cosigner:
- A guarantor form
- Government-issued ID
- Proof of income
By getting these documents ready ahead of time and providing them to your agent, you’ll ensure that you can apply for an apartment within minutes of touring a place that you like.
Should I Live in Dorms or Rent Off Campus?
As a student in Boston, one of the biggest questions you’ll be asking yourself is whether you should live in the dorms or rent an apartment off-campus. Both options have their pros and cons, and ultimately, the choice comes down to your available options and priorities. When living in the dorms, you’ll typically be right on campus and won’t have to worry about commuting, parking, traffic, etc. and can be very convenient especially in your first 1-2 years at school. However, this convenience does come at a price – room and board is very expensive, and oftentimes, renting off-campus with roommates can be the more affordable option. In addition, many schools in Boston do not offer rooming services after a few years at the school, so you may be forced to find an off-campus apartment during your time at the school. Therefore, I highly recommend looking into what your school offers and then make your decision based on pricing, preferences, and availability.
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How Do I Choose the Right Agent?
Selecting the right real estate agent in Boston can make all the difference in the world when it comes to navigating the rental market. Agents are a dime a dozen in Boston, and unfortunately, it can be difficult to separate the good ones from the bad ones. Therefore, you should look for agents who are knowledgeable about the local area, have a proven track record, and prioritize your needs and preferences. Don’t be afraid to ask your agent if you can jump on a zoom call with them to discuss what you’re looking for and gauge their ability to help. Additionally, always ask for recommendations from friends, family, and other colleagues who have had a positive experience with an agent in the past.
Final Thoughts
While it’s true that renting in Boston has its challenges, by understanding the competitive landscape going in, you’ll be able to navigate the rental market with confidence and find the perfect place to call home. Most importantly, don’t rush your decision, and start your search as early as possible to get the best idea of what the market has to offer.
