Rental Vacancies Rise, Rents Drop

According to CNNMoney.com the national vacancy rate for rental apartments rose to 8% at the end of 2009 up from 6.7% a year ago.  High vacancy rates translate into lower rents, so if you are getting ready to go into a lease or renew your existing one, negotiate the price.  Keep in mind that many corporate landlords will not want to decrease the monthly rent because it hurts their books, but they will throw in a free month’s rent or some other benefits/improvements, that will bring your effective rent down.

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Jennifer Wollmann

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