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RSS FeedTenant's Market? |
The rental market is soft, whether you're talking residential or commercial the story isn't pretty.
I spend more of my time looking at residential and I've been thinking about this change. Over the last few years more and more fees and special clauses have been piled on tenants.
There are lease clauses that say you have to have the chimney cleaned before you leave. There are clauses that say you have to have the carpets professionally steam cleaned before moving out. There are deductibles charged any time a service call is made. There are clauses that state that tenants will make repairs on anything under $200 with their own money.
And, now there are lots and lots of empty rental properties. So will the pendulum swing the other way?
My hunch is it will to some extent. You're already seeing apartment complexes running all kinds of specials to lure tenants in.
We've had a buyer's market for several years now.
Welcome to the tenants' market?!
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