New academic year: Student rental market heats up
With less than a month until the start of the new academic year, students who either don't want to live in dorms or can't get a spot are already searching for rental apartments in the capital.
Real estate agent Victor Cernomorcenco says that during this time, rental prices increase by an average of 10-20% due to heightened demand.
"He's talking about the cheapest apartments, those up to 400 euros per month. Very expensive apartments aren't of interest to students. For those, prices aren't affected during this period," the real estate agent stated on the show "Zi de zi" at Radio Moldova.
Students who start their search in early August can find some good deals, while those who wait until late August or early September will pay more. However, most of them, about 80%, only start their search at the end of the summer. This is why the real estate expert urges young people to start their search now.
"When there are very few options left—say, two or three apartments at 300 euros per month—the owner sees 30 students showing up on the same day. Naturally, he'll rent it out for 350 euros because the demand is so high," the real estate agent said on Radio Moldova.
Victor Cernomorcenco has noticed that students who signed a rental agreement during the academic year extend it for the summer as well, so they can benefit from the same price and conditions going forward.
The most sought-after apartments are those that cost 300-400 euros a month and are located near universities. Students also pay attention to the location; they want the apartment to be in a quiet, safe area and to have access to public transportation and shops.
To save money, some of them choose to live with one or more friends.
"Typically, when there are too many students, the owner doesn't want to rent out the apartments because young people are more energetic, and often, they don't take care of the home as well as a young couple who are quieter and who might also have a child," the real estate agent compared.
Victor Cernomorcenco recommends that students, after choosing an apartment, "absolutely" sign a contract with the owner to clearly define the obligations of each party. The contract should also include provisions for contract termination, certain guarantees, and penalties in case furniture or other items in the apartment are damaged.
"In this case, the student will be able to focus on their studies without worrying that the owner might evict them from the apartment," the quoted source added.
Students should also ask owners from the start what the average utility costs are, so they can better manage their budget.
Additionally, students are advised to be vigilant when searching for housing, so they don't fall victim to scams.
Translation by Iurie Tataru
