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Renters Feel the Landlord Love

In soft market, tenants offered flat-screen TVs, cash, reduced rent

By Polly Davis Doig,  Newser Staff

Posted Nov 2, 2009 6:19 AM CST

(Newser) – Time was, the landlord's knock could inspire dread and bogus excuses. But as apartment vacancies soar, these days he's more likely to drop by to offer you a flat-screen TV, cash, or reduced rent if you re-up your lease. "Many companies are doing whatever they can to keep units occupied, especially heading into the seasonally slower leasing period," says one analyst.

Retaining existing tenants is key as national vacancy rates hit a 23-year peak of 7.8%—and offering incentives helps avoid renovations, marketing expenses, and lost rent, reports the Wall Street Journal. Besides, savvy tenants are checking online to see offers to new tenants—giveaways like paying brokers fees—and looking for parity. But with few new units coming on the market, the party is likely to be over—and the shoe back on the landlords' foot—when the economy comes back.

Signs advertising  apartments for rent are displayed in front of an apartment complex July 8, 2009 in San Francisco, Calif.
Signs advertising apartments for rent are displayed in front of an apartment complex July 8, 2009 in San Francisco, Calif.   (Getty Images)
A sign advertising apartments for rent is displayed in front of an apartment complex July 8, 2009 in San Francisco, Calif.
A sign advertising apartments for rent is displayed in front of an apartment complex July 8, 2009 in San Francisco, Calif.   (Getty Images)
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COMMENTS
Showing 3 of 3 comments
Silverbow7
Nov 2, 2009 4:23 AM CST
Mr Roper would be gay. Chrissy would have her own reality show, and Jack would get laid.
Nwambe
Nov 2, 2009 3:29 AM CST
Mr. Roper would be a bear, Chrissy would be gay, Jack would be transgendered, they'd all hang out at a vegan coffee shop and nobody would understand each other anyway.
Netstorm2k10
Nov 2, 2009 1:55 AM CST
I just wonder how Three's Company would be written today.

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