Lease expiring

[Right time?]

Our lease is expiring mid July.  We are going on holiday at the end of June for just over a week. From the time we come back we would have about 2.5wks to find somewhere.  We have already started looking for a place and know what we are looking for and have narrowed down it down to 3 condos.

Would we be cutting it a bit fine if we waited till we came back from holiday to look for a new place(approx 2.5wks)?  Or is it best to seal a deal before we go?

[very late]

Of course it's late.  You have 7 or 14 days after LOI to agree contract.  Not to mention sorting movers, clearing etc.  Most LLs start advertising at least a month before as well.  Also the LL typically needs time to clean it etc.  Sort it out before you go.  Either that or get a mover sorted anyway and start looking for storage space in case you fail to move in time (and look for a serviced apt).

[A tenant...]

you are cutting it very fine, and also won't be able to enjoy your holiday wondering whether or not you'll be able to find an appropraite place in time...

if you want to wait to the last minute simply because you think rents might fall, why not extend your current lease by 1 to 3 months? you should be able to do it by email agreement with your landlord.  Simply offer them a bit more than current market rates, or alternatively accept their asking price (as opposed to a new tenant who will look to negotate hard).  They might be happy to get excess rent for a few more months.

[rents may be down]

or at least more negotiable compared to a few months ago.  They are still way higher than 2 years ago when OP likely took out the contract.  Can't see LL buying that at all.

[A tenant]

i didn't mean extending the tenancy at the historical rate which as the PP said is likely to be much lower than current market rates.  I meant offering the landlord the new market rate (or even a bit higher to compensate for the shorter tenor) for 1 to 3 months.  I don't think there is a need to engage an agent for this, so there shouldn't be commission costs

[Right time?]

Yes you are right, there wont be much time to sort things out.  Ill make sure we have something before we go.  Rents are definately coming down from what Ive seen, but I dont imagine there will be a great difference from end of June till mid July. 

Thanks.

[Coming down but]

Yes rentals are coming down - as compared to the peak rates in late 2007. They are not going to come down to 2006 rates however!

[winters]

How have u figured out success in life to this point with such a question?

[Right time?]

To 'winters', I dont know how I managed to get this far in life asking such a question 

Just for your info, when we first arrived here 2yrs ago, we managed to find a place, get all the paperwork sorted etc all in 2 wks! 

[Enough]

Having just moved. I think its enough. If you look to early they won't wait. You might want to start getting a feel of the market and preferred locations before you go on holiday though.

It will play on your mind tho. Being without a confirmed place to live is stressful if you're a wuss like me.