Manhattan landlords offer sweeteners, drawing would-be buyers

Manhattan landlords offer sweeteners, drawing would-be buyers

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(Bloomberg) — Manhattan landlords are offering tenants more deal sweeteners than a year ago as developers continue to add supply, and mortgage rates and taxes are drawing in would-be home buyers willing to stick it out a while longer in the rental market.

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(Bloomberg) — Manhattan landlords are offering tenants more deal sweeteners than a year ago as developers continue to add supply, and mortgage rates and taxes are drawing in would-be home buyers willing to stick it out a while longer in the rental market.

Manhattan Landlords Offer Sweeteners, Drawing Would-Be Buyers Real estate investing mexico real estate , puerto vallarta real estate , real estate investing , retirement , vacation home Landlord concessions jumped to 37 percent of new leases in September, from 27 percent last year.

(Bloomberg) — Manhattan landlords are offering tenants more deal sweeteners than a year ago as developers continue to add supply, and mortgage rates and taxes are drawing in would-be home buyers willing to stick it out a while longer in the rental market.

The rental market remained hot this January as the weakening home sales market motivated many would-be buyers to rent instead. While strong demand pushed up rents everywhere except for along the L train, the StreetEasy Manhattan Rent Index reached a new high for the month of January and increased at the fastest pace in the city’s most expensive neighborhoods – particularly in Downtown.

REIT owners, such as Equity Residential and Aimco, can offer free months of rent, gift cards, or the cost of temporary wall installations to draw in new renters. landlords. buyers widened through.

The lower the rate, the fewer the available units, and that shrinks your likelihood of getting concessions-those sweeteners where landlords offer you a free month or pay the broker fee to entice you to sign a lease. The historical context. The city considers a "normal" vacancy rate to be 5 percent.

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