As many brokers and tenants seeking units have noticed, rents are on the rise and available units are on the low. It is the laws of basic business: low supply+high demand=high prices. Landlords have been recognizing larger potential earnings from their units and 5-10+% increases haven't been unheard of. After seeing much of this first hand in the Back Bay market I was not surprised to read the same in an article by Jane Hodges on msnbc.com.
These rental hikes have been felt by tenants coast to coast. Tenants often find themselves arguing with landlords over raises and search for other options only to find out rents have been raised everywhere else too. Although we'd all like more for less, the market is challenging tenants wallets. However, rents are always rising. If you put off another year, you may see another 5-10+% increase. So although it may not be the price you want, it could save you money going forward.
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