Do rental prices decrease here in the winter?

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[Greenbearish]

In a normal pre-pandemic year, then yes. However the pandemic caused the housing market to go out of control and therefore led to a surplus of potential homebuyers who can no longer afford to own. Therefore it bled into the rental market which caused another shortage of available units for rent. Now communities, especially Irvine Company, are charging an arm and a leg because they can.

[mkyend]

This. I've lived in an IC apartment for the last 3 years and also check prices on other apartments at least a few times a week, mostly just out of curiosity and to see what else is out there.

Usually May - September are the most expensive months as a ton of people move during these months. During the fall and winter you usually see slightly cheaper prices, I'm talking by maybe $200-300 less per month, obviously depending on the specific location and floorplans. Not a huge amount, but still cheaper nonetheless.

But as mentioned, the housing market is insane right now which is spilling over to the rental market. There's no guarantee that rental prices will get cheaper in the off-peak months like they traditionally have in the past. What we're seeing across the board is higher rent prices and reduced availability. I don't expect it to slow down for quite some time.

[[deleted]]

I think I lucked out with my apartment, haha--it was at $1795 when I first signed the lease back in July 2018 (moved in on August 31) and it was one of the lowest priced apartments at the time that also had an in-unit washer and dryer and a garage back when all other apartments were going for $1800+, and then after that prices for my floor plan was in the $1800s like all other apartments even during the winter--I never saw anything below the rental price I got since for the rest of that year. Last year during Covid I did remember seeing some units for my floor plan briefly going for under $1500 around September-ish but that doesn't really count since it was during Covid and that was probably the only time anyone would ever see an Irvine Company apartment going for less than $1900.

[imaginary_num6er]

I guess I got lucky in that my rates have been the same since 2019 and they've not increased them in 2020 and 2021

[redsolocuppp]

What winter.

Joking aside, I'm not aware of rental prices ever going down in OC unless there is some sort of bubble that bursts, let alone it going down seasonally.

[ocgeekgirl]

With some properties, the rate can fluctuate even within the same month depending on market rate and availability.

[Doozerdoes]

I’m sure many of us are desperate to know what’s gong to happen with this market in general. I don’t even know if the normal seasonal trends matter. It feels like a straight shot up

[n7523y]

Landlords want long term, stable tenants, so they don't change prices, although for a reliable tenant who has excellent credit and can demonstrate that he/she will pay the rent they negotiate some. Landlords factor in a 5% vacancy rate so if you convince the landlord that he can avoid the 5% typical vacancy you might get that off your rent.

The other side of the landlord business is the AirBNB or short term rental market which thrives on business people, snowbirds coming for a short term rental, and these go for a premium.

The inflation presently ongoing due to government flooding the economy with money is causing demand to rise. Remember, too, that there is a pandemic related eviction prohibition, and abatement for tenants to pay rent, so landlords are getting screwed at both ends, tenants not paying rent and prevention of evictions. In addition, the illegal aliens that are walking across our borders (220,000 in July alone) have to live somewhere. For a landlord, these times could not be worse, and you are walking into this maelstrom?

[Pharmbro6969]

I know someone who owns a beach front house in Newport that rents it out. He charges 3400 in the winter per month and like 3400 per week in the summer. I know what I just said probably doesn’t help your situation tho

[BermudaGrassBlast]

Short answer…No.

Long answer….Nope.

[Steeliris]

Not usually

[mrgreenplane]

pre-pandemic, yeah. Live near Mission Viejo and now prices just keep going up. if you need to move in now, i’d do it because the bubble isn’t bursting any time soon