A survey conducted by Rent.com found that property managers “are planning on showing little mercy to their tenants this year,” MarketWatch reports.
Around 88 percent of property managers raised their rent in the last 12 months, while 68 percent expect that rental rates will continue to rise in the next year by an average of 8 percent.
“What’s more, 55% of property managers said that they are less likely to offer concessions or lower rents in order to fill vacancies,” marketWatch reports. “One reason why they’re getting even tougher: They are in a stronger position than they were this time last year.”
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