Internet rental-search-site Rent.Com recently released their 7th annual “Property Owner and Manager Market Report” that captures trends in the rental market directly from over 500 apartment property managers nationwide.
Highlights from the report:
- 34% reported that renters are holding on tight to their apartments and renewing their leases (up from 29% in 2014).
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More than half reported seeing an increase in the number of former homeowners seeking rental apartments, thus adding to the already crowded rental space.
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Increased demand and low inventory were the primary reasons for increasing rental rates over the last year.
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88% raised their rent in the last 12 months, and there does not appear to be any signs of stopping.
Click here to read the full report.
