Apartment Landlords Offer Sweet Deals Free Rent Abounds

Concessions Rise Renters Rejoice

Hmm a shift in the Force I sense. Apartment landlords concessions they offer now. Nationwide a 16.6% increase since January concessions given yes. Higher than December this is. Mid 2014 not seen rates like these we have. Five weeks of free rent on average a discount it is. Tempting is it not? Use the Force young renter and find the best deal.

Supply and Demand A Delicate Balance

Strong the Dark Side is but not without its weaknesses. Rents they gained only 0.2% in February. Six months the first gain this is. Down 1.5% year over year rents are. Vacancy rate a new peak of 7.4% it hits. Seasonal the bump in rents likely it is. A structural headwind high levels of new deliveries are. Absorb time it will take for the units.

The Sun Belt Feeling the Heat

The Sun Belt yes feeling the pressure it is. Job market weakening domestic migration slowing immigration outflows weighing heavy on household formation. Occupancy rates down from a year ago in 28 of the top 30 markets they are. Much to consider there is. But if it is energy reforms you seek then Energy Permitting Reform Talks Heat Up: A Toxic Britney Breakdown it is a good read.

Conditioned to Expect a Deal Renters Are

Expect a deal renters do now. Massive supply for two years apartments hitting the market. A deal they expect. Effective rent growth numbers incremental improvement they may see. Concessions high they remain. A path to the Dark Side concessions are not. Patience young renters patience.

Echoes of the Past Parallels to 2010

Like 2010 this is in some ways. Unemployment twice today's rate it was then. Absorption much better it is today. Supply the trouble it is 1.4 million new units. The highest count in decades since the 1970s. A long time ago that was in a galaxy far far away…

Free Rent or Gift Cards A Landlord's Dilemma

Free rent or gift cards a dilemma for landlords it is. Rent concessions impact the reported income they do. Marketing concessions giveaways they are. Some companies prefer the giveaway route. Wean off a rent concession harder it is. Choose wisely landlords must. May the Force be with them they will need it.