The dreaded leasing season is upon us
October 1, 2008
The University of Illinois is better known for its “Unofficial St. Patrick’s Day,” usually held right before spring break, but today, October 1, marks the beginning of another unofficial event that arguably causes bigger headaches for students. That’s right, it’s the start of leasing season.
More than 10 months before they go into effect, many campus landlords are opening their offices to handle leases for the 2009-10 school term. Of course, a few opened their doors Monday or even earlier to deal with the flood of students who are making apartment plans for next year just as they’ve finished moving into this year’s home.
If you’ve been apartment hunting, you probably agree that it’s madness and that it isn’t getting any better. But what can be done about it?
Breathing would be a good start. One fact that you don’t hear about a lot is that there are more apartments available in the area than there are students. But thanks to the gotta-do-it now mentality that has permeated the minds of students, not only are rent prices going up, renters have to make a big decision earlier and earlier.
However, it doesn’t have to be this way.
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Earlier this year, many students learned a hard lesson about the hazards of signing a lease too far in advance. They were lured by shiny new buildings with the latest amenities that landlords unfortunately projected would be ready for August move-in. But even today, units in these buildings remain empty and unfinished.
It’s easy to see how they suffer, but everyone else who succumbs to the rush for apartments actually in existence frequently get burned by the more typical unintended consequences; roommates backing out, nonrefundable security deposits, unscheduled repairs – the list goes on.
Students, especially freshman looking to sign their first lease, can learn how to be smart renters by utilizing the Illini Tenant Union and attending seminars held in the residence halls. Many don’t do this, as they feel rushed to sign a lease without reading it or properly preparing to take on a significant investment of time and money.
The student body wields enormous power through its collective checkbook. What people need to realize is that they will not be homeless if they don’t have a signed lease in hand by Columbus Day and that taking time to shop around for the best deal will save them money and hassle in the long run.
If students decide to break out of the pack mentality, the renting climate in the C-U will only get better.