The fun may be over for New York City renters, according to the Wall Street Journal, who have enjoyed lowered rates thanks to a glut of inventory and rising vacancies across the city. Even though New York City apartment vacancies continued to climb in the beginning of the year, some property managers say they no longer have to pay broker fees or offer other incentives to lure renters. Also on landlords’ side are statistics — the 20 to 34 age group, which many identify as the prime renting market, is slated to grow by about five million over the next 10 years. Some brokers even say that they’re noticing small increases in rents so far this year.
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