Are rents changing?

[LynnSmith]

My son and his wife were looking for an apartment this week. They looked at several places. Rent ranging from $1400-1700 online. Each place in person started negotiating the amount. The apt they like settled on a 1 yrs lease at $1k a month. It was listed for $1,700. What is happening? Is it that hard to find good tenants?

[KarlaH]

This is a hard time of year to rent vacant units. The incentives aren’t abnormal.

[SLopez]

I don't know too much yet but dropping the price $700 seems a little abnormal

[BBFult]

Maybe it's like one of those get one free month kind of deal but it's discounted instead.

[SLopez]

1 minute ago, SLopez said:

I don't know too much yet but dropping the price $700 seems a little abnormal

I price all mine as affordable as possible until covid is on the way out

[LynnSmith]

3 minutes ago, SLopez said:

I price all mine as affordable as possible until covid is on the way out

My units are full , rent fast when vacant, and I don’t negotiate. If the units are priced right for the location and market comps, no negotiation should be needed.

So that's why I'm shocked this person negotiatied so much for my kids.

Edited January 24, 2021 by LynnSmith