There was a time not long ago when renters searching for apartments in the largest markets would be pressured into signing leases the moment they crossed the apartment threshold. The demand was huge and the inventory was low, making those rents substantially higher and competition brutal.
Today, with unemployment at a high of 9.8%, the rate of vacancies is also growing and landlords are bending over backwards to entice renters to sign on the dotted line. Marketing these properties is also trickier because many unemployed renters are moving in with family and many previous renters are snatching up foreclosure deals.
To read the original article about the rising apartment vacancy rates and the power that renters hold, click here.
