With new construction cut in half and the housing market still down, the demand for rental units has increased, while the supply has stayed the same. This situation has put the rental market in the hands of landlords across the country. Apartments.com spokeswoman, Tammy Kotula, was recently interviewed by MSNBC for their article Renters Are the Next Victims of the Housing Market. In it she gives some sound advice for both renters and property managers, encouraging both parties to discuss the option of committing to a longer lease to lock into a more affordable rate. This option will save the management company, as well as the renter, money in the long run.
Have you noticed an increase in the number of renters asking for extended leases at a lower cost?
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