Your Monthly Rent Forecast for 2009
Monday, May 11th, 2009
The current economic situation has had some pretty clear influences on rental rates. For the most part, the cost of renting an apartment has been dropping and, in many areas, landlords are offering incentives to new tenants. Landlords are seeing the first major declines in five years.
A report from Reis Inc. points to last year’s fourth quarter as a turning point. That’s when the national vacancy rate hit a four-year high of 6.6 percent, and showed no sign of stopping.
That, in…
