It’s a Renter’s Market!

Have you been thinking about what city to move to? Well, if you’re feeling stressed for time – don’t be. According to the NYtimes, the rental market has been getting looser for the past couple of months and stands to stay this way for awhile. What does this mean in laymen’s terms? Rents are getting cheaper!

As the article suggests, landlords are making all types of concessions in this market. Free rent for a month! No broker fees! It’s a whole new game! And, in a way, it’s never been a better time to be a renter. Well, assuming that you still have/can get a job. Which, granted, is a significant assumption, but do take it to heart. It’s easy to say to yourself that now isn’t a good time to spend — that, you should cut back on everything. Maybe now isn’t a good time to move out?!

But, if you have job security, that isn’t necessarily true for you. While it may seem unfair, some people stand to benefit substantially from the current market. And there’s nothing shameful about it; it’s just how the economy works. One of the toughest things to learn is how to spend money wisely. One way, is to take advantage of deals a la the current apartment market.

So, if you’re looking to move out in the near future and have your finances in order, don’t let the economy get you down and certainly don’t let feelings of guilt stop you. Even if you’re concerned about having a job 6 months from now, there are ways to rent an apartment responsibility free – that’s what month-to-month renters have been doing for years. Here’s betting landlords would rather have a month-to-month lease with you than not have you at all.

If any of you caught the Superbowl, there was even a car add, that stated that if the buyer lost their source of income within 1 year, they could end their lease with no additional charge.

This is SUCH a consumer’s market!

Author My First Apartment
Alissa

Posted by

I've lived in apartments in 6 cities (including 2 foreign countries). Does that make me an expert? As of now, my ceiling isn't leaking and I don't have rodents (knock on wood) -- so I'm going to say yes . . . but ask me again tomorrow:) These days, I'm enjoying life Chicago style, but my years in Brooklyn are never far from my mind. P.S. By day I work at GolinHarris, but these opinions are totally, 100% my own.

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