Category Archives: Boston’s Medical Area

Match Day Has Arrived: Boston Medical Residents, Are You Ready?

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Today is Match Day. It’s the day when medical students across the country get matched with residency programs. In Greater Boston, this day also marks the unofficial start of the non-undergraduate rental market as students will be moving to the area and searching for places to live.

Over the course of the next six or so weeks, the majority of June 1 and July 1 apartments will get listed and rented within very short periods of time – sometimes happening within a 24 hour period. If you or someone you know will be moving to Boston as a result of Match Day, here are a few tips to navigate the rental market.

Bring a copy of your offer letter. You’ll need to verify matchemployment and income as a part of your rental application.

Be prepared to make a decision and act quickly. In today’s competitive rental market, it’s not unusual for an apartment to rent within a couple of days of being listed. I usually tell people, “don’t rush into a decision but once you make it, rush to act on it.” The first place you see may very well not be around by the time you are done with seeing apartment number eight.

Bring your checkbook and something to keep 5515204901_b5a2d7fa64_oyour jaw from dropping. The one month rental fee is being paid almost exclusively by renters now and many landlords are asking for first, last and security (a full month’s rent) upfront.

Have a co-signer lined up, even if it’s just in case. Landlords typically don’t want the yearly rent to be more than 30-35% of the yearly household income, and if it is, you will likely need a co-signer – even if you have good credit and references. Landlords are looking for assurance that the rent can be paid. And this leads into our final bullet…

Don’t take the process too personally. It’s not about if you are nice and if you hold the door for people at Dunkin’ Donuts, it’s a business transaction and for landlords the application approval process is about mitigating risk. There are nice people who do and don’t pay bills every month. So, while a landlord wants the best of both worlds, it’s not a personal affront if they request a co-signer, need to verify your income, or have questions about your credit.

Medical SymbolThere ARE good places out there and good agents just waiting to show them to you, so give one of our Prudential Unlimited Realty offices a call to get started on your search for a new Greater Boston home!

Al Norton, Rental Manager, Prudential Unlimited Realty

Al Norton can be reached at 617-669-3811 or rentals@prudentialunlimited.com.

Image Credit (first and second photo): Emory students celebrate at Match Day Ceremony, March 20, 2012, Emory News; (other photos) Creative Commons   

Home to Boston's Medical Area

The Boston area is considered one of the top places to live for physicians and other medical and health care professionals.

Boston is steeped in history and culture, a huge draw for the many who come seeking to learn cutting edge methodologies and to meet some of the top medical researchers and professors around.  Boston is known for great restaurants, fascinating architecture, winning professional sports teams, beautiful changes of seasons, and a stable, highly educated population driven by the medical industry, colleges and universities, biotech and pharmaceuticals, and technology professionals, among many others.

Communities around Boston have weathered the economic and real estate storm as a result of the diversity of a highly educated population, relatively low volumes of new construction, and high, stable residential rental rates, and a government that has managed state finances responsibly compared with many other states (see Agencies praise Patrick administration’s ‘effective management during economic downturn’ as they affirm Mass. bond rating).  Additionally, the recent unemployment rate in Massachusetts was 7.4% compared with a national unemployment rate of 9.1%.

Boston’s Longwood Medical area – located near the Fenway area and Fenway Park where theBoston Red Sox (not enjoying their finest moment) play, Back BaySouth EndBrookline, andJamaica Plain, is the focal point of Boston’s dominance as one of, if not the top and most respected medical communities in the world.

Many world-renowned medical facilities ranging from teaching hospitals to community health centers and cutting-edge medical research labs is performed in partnership with local universities and medical centers. Patients from all over the world are treated in Boston and many medical professionals train in one of the many facilities. The city is home to 77 hospitals with a variety of specialties.  These hospitals are home to practiced and proficient doctors that are world renowned.

Boston’s medical area also helps draw some of the world’s largest biotech, medical device companies (such as Boston Scientific) and pharmaceutical giants.  Among those, New York-based pharmaceutical giant, Pfizer, in June, announced plans to invest $100 million with Boston’s Longwood Medical Area.  Other notable pharmaceutical companies with a large presence attracted to the Boston medical community and universities include Merck and Novartis.

Many doctors choose to work at Boston area hospitals because many of the surrounding communities such as Brookline and Newton, which have excellent school systems for their children as well as some of the top universities.  Boston also boasts some of the best medical schools in the country including Harvard Medical School which continued its long run atop the U.S. News 2012 rankings of Best Medical Schools for research, finishing ahead of the University of Pennsylvania, theJohns Hopkins University School of Medicine, and the Washington University in St. Louis School of Medicine.

According to US News and World Report, The Top 3 Boston hospitals are:

1.    Mass. General Hospital
2.    Brigham and Women’s Hospital
3.    Beth Israel Deaconess Hospital

Prudential Unlimited Realty has offices in Brookline and Jamaica Plain, MA.  These two desirable communities are adjacent to Boston’s medical community and they are home to many medical area professionals.  Visit us at www.prudentialunlimited.com.