My lease ends at the end of November. I don't want to buy a house just yet, but I do want to rent, when should I start looking for a place to rent?

Asked by Alicia Keyes, Mesa, AZ Thu May 30, 2013

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ryateslenders, Agent, Plano, TX
Fri Aug 2, 2013
You need to get pre approved first to ensure their are no issues there and I would start looking sooner than later.
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Barbara Grif…, Agent, Mesa, AZ
Sat Jun 1, 2013
You can start looking now though most places may not know what will be available until the end of October. It could benefit you to let an owner or rental agent know your interest in a community ahead of time. If you are interested in renting in a 55+ plus gated community in Mesa, let me know.

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Grace Adewumi, Agent, SCOTTSDALE, AZ
Thu May 30, 2013
Hi Alicia,
Usually, the ideal time to start looking for a place to rent, is about a month before your current lease ends.
Grace Adewumi
Realty One Group
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Lee Ehrke, Agent, Mesa, AZ
Thu May 30, 2013
All of the agent who have commented have provided you with some great suggestions to your question, your search of current rental homes can start now but can frustrate you being you are not ready to move. If you don't mind the emails of listings in your search area for a few months prior to the time when you should concentrate on your search then that is the way to go. This will give you an over view of what is out there to rent and also allow you to research the access to shopping, schools, parks entertainment and the most important what is the crime rates for your search area, so when you are ready to move you can feel safe and enjoy your new location.

I know you have many choices when it comes to selecting an agent, thank you for your question.

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Christopher…, Agent, Tarrytown, NY
Thu May 30, 2013
It really depends on how hot your rental market is. In some, it doesn't make sense to look too far in advance because you will have to act fast. In others it may be a bit slower. Now is a good time to get a handle on what's available in your price range and search criteria.

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Ron Thomas, Agent, Fresno, CA
Thu May 30, 2013
The LEASE will be up, but,
will it revert to a month-to-month, (a lot do)?
will they ask you to sign a new lease?
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It will go month to month afterwords, and yes they would ask me to renew.
Flag Fri May 31, 2013
Katie Evans, Agent, Mesa, AZ
Thu May 30, 2013
I find that most of my clients like to look about a month before they are ready to move. Most leasing companies are looking to fill the vacancies as quickly as possible and are usually not very interested in holding a home for a month or so for a renter. Please let me know if I can help.
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Mark Hardy, Agent, Mesa, AZ
Thu May 30, 2013
Yeah, hi Alicia, I agree with Eric but I would probably revise the timeframe to 2-3 months from the end of your lease just to make sure you don't run out of time and have to settle for something you don't want to.

Yep, call me if I can help you get qualified with a lender, as you may realize like many others are that they are able to buy a home at a cheaper monthly rate than they would be paying for rent right now with the historically low interest rates and affordable home prices.
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Eric Fox, Agent, Phoenix, AZ
Thu May 30, 2013

A good time to start looking to rent again would be no later than a month or two out from when your lease is up. That gives you time to find the right place and organize all the finer details it will take.

I know you said you were not ready to buy yet but did you know that you could possibly get a mortgage payment for close to or below what you would pay for rent? Mortgage rates are still at record lows and prices are only going to increase here in AZ.

Since you have a lease until November, my advice would be to talk to a mortgage lender to see how much you could qualify to buy a house for and see what your payments could be like. That way you could own a house and build equity instead of throwing away $800-1000 of rent each month. Check out my website and visit the blog to see how I break down "Renting Vs. Buying".

If you don't like the options after talking to a mortgage lender and want to rent then that is okay too. I would be happy to help you find a place to rent. I also have a great mortgage lender contact that you could speak to. Feel free to call me anytime to discuss :)

Eric Fox
(623) 326-3779
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