one of the most common questions we field here at domu is: “when should i start my search for a new apartment?”  the way we see it, the answer to that inquiry depends on two things: the law (which is static) and the market (which is fluid).

chicago’s notorious residential landlord tenant ordinance prohibits a landlord from requiring a tenant to renew a lease more than 90 days prior to its scheduled termination.  the ordinance also allows a tenant to refuse his landlord access to the apartment for the purpose of exhibiting it to prospective renters more than 60 days before the expiration of the lease.  while this technically still allows the landlord to show the property to interested renters with the tenant’s consent, in practice most landlords play it safe and refrain from showing an apartment more than 60 days before it becomes (or is scheduled to become) available.  the ordinance also requires a landlord to provide at least 30 days written notice of its intention either to terminate a month-to-month tenancy or not to renew an existing lease.  in other words, even if the lease naturally expires on august 31, if the landlord fails to notify the tenant, by august 1, of its intention not to renew that lease, the tenant may continue to occupy the apartment on a month-to-month basis.

so what’s the upshot of all this?  well, in simple terms, it means that the landlord may require the tenant to commit to a renewal within 90 days prior to the termination of the lease.  it also means that the landlord effectively can’t show the apartment to prospective new renters until 60 days prior to the termination of the lease.  and it means that the landlord must give the tenant at least 30 days notice of its intention to hike the rent (or to not renew).  generally speaking, landlords hew fairly tightly to these rules.  typically, they will send a letter setting (or, in today’s market, hiking) the rent about three months before lease expiration and asking the tenant to commit within 30 days.  at the end of that 30-day period, all bets are off, and the landlord will start showing the apartment to prospective renters.  if a new renter signs a lease, the landlord will promptly notify the tenant to ensure that the tenant is aware, at least 30 days prior to termination, that he needs to find new living quarters.

now, having laid the legal groundwork, the question is when to start apartment hunting, given current market conditions.  for insight on this, we polled a couple of our trusty management company clients.  first we consulted benjamin ring of lakeview associates,  a firm that manages about 1,000 units in 21 mid-rise, vintage, and courtyard buildings, primarily in east lakeview and lincoln park.  benjamin suggests that, in a typical year, tenants should begin their apartment search at the beginning of the 60-day timeframe because his own management company does not, as a matter of policy, show apartments to prospective renters until the commencement of that 60-day period.  he predicts, however, that 2012 will be strong for landlords and counsels that tenants should start “sooner rather than later” in today’s market.  translation: start 60 days before your desired move-in date, and do not procrastinate!

next we contacted lauren schramka at zrs management, which manages chestnut tower, a picturesque high-rise at the southeast corner of lasalle and chestnut streets.  lauren, who naturally views the world from the landlord’s perspective, forecasts an even tighter supply of inventory than ben.  she indicates that chestnut tower has no vacancies and a growing waiting list.  having enjoyed this same luxury last summer, they rented all of their available units to waitlist applicants before the general public even knew (and they never did) that there were apartments available.  as a result, lauren advises tenants in today’s market to start their apartment search at least 90 days before their desired move-in date.  naturally, there will be management companies like lakeview associates who won’t even provide tours until 60 days out, but it obviously won’t hurt to get a head start.