What Is a Look-and-Lease Special? + How to Find Them [2024]

If you're looking for a great deal on a place to live and want to sign quickly, a look-and-lease deal may be the ideal option for you.

Look-and-Lease Specials

What Is a Look-and-Lease Special?

A look and lease special is an incentive offered by landlords to encourage potential renters to sign a lease agreement on the same day they tour the available apartment. This means you visit the apartment, like it, and immediately commit to renting it by signing the lease and potentially paying fees or deposits, all during your initial visit.

Popular Types of Look-and-Lease Specials

Look-and-lease specials vary depending on your location, current trends, season, and how eager the landlord is to attract new renters. Here are a few lease special deals you’ll likely find in your search.

Free/Reduced First Month's Rent

A typical look-and-lease deal is some amount off of the first month's rent. However, that doesn't necessarily mean you'll skip paying for the first month. Your landlord may apply the savings across your entire lease, which could just mean a minimal decrease every month instead of your cost savings all at once. Before signing, make sure to thoroughly review the lease and terms.

Waived Fees

Apartment hunting can get expensive quickly with so many additional fees. If you're not a fan of paying extra, browse for look-and-lease deals that refund your application fee upon a successful credit check and other approvals to rent the apartment. If you're an animal lover, look for look-and-lease deals with waived pet fees.

Gift Cards

Make sure you're ready to move! Moving can get expensive quickly, so it's also incentivizing to get cash coming back to you just for signing a lease. It's common to find look-and-lease deals with a $100 Visa Gift Card incentive when you apply immediately after your apartment tour move-in within 48-hours after credit screening results.

One of the most desirable look-and-lease deals is an entire first month's free rent with the addition of a $100 Amex or Visa gift card. Extra gift card money can be helpful if there are any application fees or pet deposits. However, just like the reduced rent deal, the savings may be applied evenly throughout your lease. Ask in advance and study your lease to ensure you're getting the terms you want.

Free Parking

Not all apartment buildings offer free parking, especially in dense cities like Boston, and others charge an additional fee for off-street, covered options. If you don’t want to look for parking and spend more on the expense, ask about look-and-lease specials for a free parking spot at an apartment building or complex.

Discounted Rent on Longer Lease Terms

If you know you want to live in the same city and neighborhood for a few years, research look-and-lease deals with better rental terms. Some landlords will lease apartments for two years at a discounted rate or lock in the same rental price for an extended time. It may not save you a lot upfront but could prevent a rent hike when the first year is up. Then, when your lease is ready for renewal, you may have enough rental history and good graces with your landlord to negotiate your rent rather than someone just moving into the complex.

How to Find Look-and-Lease Specials

If you're coming up empty in your search, Apartment List makes it easy to find lease specials with our app or website. Keep an eye out for red "Rent Special" alerts in your area while browsing for apartments. Our handy Net Effective Rent tool also helps you search for move-in specials and see their actual value. For example, a gift card may sound more valuable than the waived fees, though the waived application and pet fees could be the better option. Learn more about net effective rent.

Certain times of year make it easier to find look-and-lease deals than others. Winter brings a slower demand for apartment rentals in most cities, and landlords are more motivated to offer move-in specials. No matter the time of year, new apartment complexes sometimes offer deals to fill their units quickly. Look-and-lease specials aren't uncommon, but they take some research and work to narrow down.

What Are the Benefits of Look-and-Lease Specials?

The major win to a look-and-lease special is the cost savings. Whether it's a gift card or waived fees, you end up with more money in your pocket. Look-and-lease specials are also ideal if you're eager to move in right away and want to find some perks for your willingness to sign immediately.

Move-in specials can dramatically reduce analysis paralysis of viewing dozens of apartments for weeks and trying to decide on the best one for you. If too many options overwhelm you, move-in specials help keep you incentivized to make a decision quickly and stick to it.

Are There Any Downsides to Look & Lease Specials?

There aren't many downsides to look-and-lease or move-in specials. However, some landlords may advertise a look-and-lease deal that isn't much of a bargain. For example, they may always rent out units with washers and dryers but advertise it as a move-in special when it's not. Or you may discover the appliances are old and outdated and may not be worth it.

Some look-and-lease deals are broadly advertised, though other apartment buildings may offer the same thing subtly. For example, the cheaper apartment complex in the next neighborhood may always provide a waived application fee or free parking to all tenants. Make sure the deal you're getting is worthwhile and competitive in your rental market.

Look-and-lease deals could also motivate you to sign a lease before you're ready or have looked around to see if it's the best option for you. Or, you could lock into a longer lease without really thinking through what you want long-term. Despite the sense of urgency around look-and-lease deals, renters can do some advance prep work to offer more peace of mind. Look for online reviews of virtual apartment tours, and visit the neighborhood of the apartment complex before considering signing a look-and-lease deal.

Ready to Find Your Next Apartment?

A look-and-lease deal offers cost-saving incentives to sign your lease and move in right away. So do a little research before heading out for your apartment tour and come prepared with all your documentation and ready to sign.

Remember, if you take our easy quiz in order to flex your location, budget, and amenity choices and explore different listings, be sure to keep an eye out for "apartment specials" as you browse.