With summer quickly approaching, many students are busy finding summer sublets, but some, such as UW-Madison senior James Krasselt, are still hunting for a fall apartment.
I guess I'm not too worried about it,\ said Krasselt. ""I figure it's something to work out.""
Krasselt's attitude differs from that of many Madison students, some of whom sign leases almost a year in advance of their move-in dates.
UW-Madison sophomore Nick Junkunc signed a lease last November for an apartment he will not live in until this August. Junkunc said he signed early ""just to make sure we wouldn't get screwed by all the houses getting taken up.""
Junkunc said that there are plenty of benefits to signing a lease early and very few negatives.
""You don't have to worry about it anymore, you kind of get first pick,"" said Junkunc. ""You're not confined to any specific set of places.""
Madison Property Management's attorney Michael Greiber also stressed the increased choices for early signers.
""The benefit of signing earlier is that you get what you want,"" said Greiber. ""If you wait until summer, you get what's left.""
Greiber said that while MPM usually has properties available year-round, larger units with more bedrooms start to run out by June.
Faris Rashid, campus outreach coordinator for the Madison Tenant Resource Center, said signing too early is unnecessary and could result in legal problems if roommate conflicts emerge later on.
""Landlords can pick any one of the roommates to hold responsible for all of the rent,"" Rashid said. ""And that can lead to some messy situations.""
Rashid said he advises people not to sign leases until spring, adding that waiting could also provide financial rewards.
""You might be paying a little bit more, or might not get as good a deal if you rent early,"" Rashid said.
According to Rashid, fears that apartment choices are severely limited by late signing are usually unfounded, and there are more properties available than people realize.
""In Madison there's about a 5 to 6 percent vacancy rate at all times,"" said Rashid. ""And that's actually higher the closer you get to campus.""
Despite these vacancy rates, some property companies, such as JSM Properties and CHT Apartment Rentals, said they typically rent out all of their available units. Rashid doesn't see this as a concern.
""If you're just looking for quality housing that's within accessible range of campus,"" Rashid said. ""There's no reason at all you should have to sign a lease right away.""
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