The Real Deal New York

Will rental market get a new lease on life?

July 07, 2008 05:35PM
By Melissa Dehncke-McGill

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From the July issue: While rentals have historically benefited from a slowdown on the sales side, they too are showing signs of softening, and apartment hunters are looking for bargains. Although rentals vary between neighborhood and apartment size, the question at hand for those who specialize in them is: What kind of lease on life will they have during this economic downturn? For this month’s Q & A, The Real Deal talked to brokers who said that while landlords are bending over backwards to maintain their monthly rental prices, they are offering more concessions than they were even six months ago in the form of a month of free rent, wiggle room on move-in dates and perks like free gym memberships.

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