Renters are Smiling? No Need to Ask Why

smiley-faceOnce again, this weekend’s NY Times real estate section’s lead story covered the declining rental market but this time with a positive spin–the tenant angle. The Times is reporting on the fact that tenants are getting more for less, while uninhabitable craphole apartments are sitting empty (as they should). Young couples are no longer forced to live in cramped and tiny studios, recent college grads no longer must travel the farthest reaches of the L train to find an affordable Brooklyn share. Things are looking up.

I was particularly interested to read the Times coverage of the impact that owner incentives may or may not be having on the current market, with landlord’s paying the broker’s fee on an estimated 30% of all apartments and many more offering some kind of free rent incentive. You can read the full article HERE.

Brownstoner coverage of this article can be found HERE.

Links to further NY Times coverage of the rental market price decline can be found HERE.


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About Me

Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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