Vacancy Rates up in Boston - Great renter’s market!
Boston’s vacancy rates rising to an all time high!
What does this mean to you?
Very good things! Now, more than ever, is a GREAT time to find an apartment. Landlords are struggling to get their apartments rented more so this year than in the past. This means landlords are more and more willing to give you (the renter) a deal. Don’t be afraid to ask for some sort of discount, maybe a free months rent, or a reduced rent. The Boston Globe reports today that vacancy rates are heading to all time high and landlords are more willing to cut deals to make sure their apartments get rented.
At our office we have seen fewer calls for high end apartments, actually fewer calls for apartments in general. People shouldn’t be discouraged by Boston’s expensive rents in this bad economy. It never hurts to ask for a lower rent especially with all these landlords getting very scared of having vacant apartments. Now is the perfect time to make a deal.
** As you can see from this graph, vacancy rates are skyrocketing, yet the prices aren’t going down as much as they should be. That’s why these landlords have empty apartments. Ask for a lower rent!
