We talked about the challenging year ahead for New York City renters. Read the new Wall Street Journal article here. Author Jackie Bischof reviews our expert advice to provide a comprehensive assessment of the future rental scene.
Photo via Natalie Keyssar for the Wall Street Journal
The Wall Street Journal article highlights several points that we’ve also discussed in our latest post. For a full rundown of our 2013 predictions for the rental market, check out our last post. Throughout 2013, we anticipate that there will be lower inventory, which drives up rental prices for prospective tenants.
2013 Predictions
If you’re in the position to rent an apartment this winter or early spring, we recommend jumping on that opportunity. Prices may increase significantly in the winter season, making it difficult for new tenants to find an appealing apartment within their budget. In New York City, renters are not likely to enjoy as many concessions as they have in years past. It’s going to be a longer, less exciting year for the rental industry.
Renters can still try to negotiate with landlords and management companies when it comes time to rent, but they may not have the same success as in years prior.
Editor’s Note: We updated this article to enhance readability.
