No Responses to “First it was condo sales……now apartment rents” »»

1. J
   Comment by J | 01/26/09 at 11:56 am

   This doesn’t surprise me. Last summer/fall especially I noticed that landlords were attenmpting to ride the tide of rising home prices to levy higher rents. I saw several units where a landlord was attempting to raise the monthly rent more than $100 or more without having done any investment work in the unit–which is ridiculous. It’s about time they got smacked with a reality stick.

2. todd
   Comment by todd | 01/26/09 at 12:52 pm

   I would say it’s typical of trying to rent out during the winter months.

3. Glenn Scott Ryan
   Comment by Glenn Scott Ryan | 01/26/09 at 1:58 pm

   For me, November and December were absolutely awful in terms of getting any deals done. Things are picking up now, getting a lot of activity for the student September rentals.

   That being said, we have a lot of current inventory of high-quality apartments that are just sitting empty. The owners are lowering rents and paying the broker fee as well.

4. landlord
   Comment by landlord | 01/26/09 at 2:04 pm

   I can’t say anything about the last 12 months, but from mid-2005 to early-2008 rents have been way up for my units in Cambridge.

   Rental agents are alway looking to get concessions out of landlords. As far as accepting half a fee, volume is minimal in the winter and their desperate to seal a deal.

5. Bob
   Comment by Bob | 01/27/09 at 1:04 am

   Is it me or is this whole recession just a big media creation? I’m seeing huge demand for my units. I’ve raised the rent by $200/yr on my downtown properties and I get tons and tons of calls on anything I advertise. I’m thinking of upping my asking rents by $1000/mo just for the heck of it, just to see.

   It’s mind boggling. I don’t know if any of you were landlords during the Internet bubble but it’s like it’s happening all over again. Inventory is soooo low and you can pretty much get what ever you want. Am I the only one? This is the best economy I can remember for at least 2 generations.

6. Glenn Scott Ryan
   Comment by Glenn Scott Ryan | 01/27/09 at 6:01 pm

   I think it is hit or miss. We have studios in the South End that are on the market for one day and they are rented. Then again we have a few units in the Broadluxe that have been sitting there for months, as well as some lofts in the Back Bay.

   It is all about getting the right person at the right time.

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