Demand for apartments has been going up for the past five years now, according to a recent article by Newsday. While this can be good news for landlords, it can have questionable results for would-be tenants. Since the game isn’t on your side, you need to get smarter about looking for apartment rentals.
There has been a larger demand for rental units ever since the housing market collapsed back in 2007. Foreclosures led to people being kicked out of their homes and into leases, while others became weary of an investment that was prone to depreciation. On the plus side, apartment builders have finally gotten the loans denied to them during the credit crisis and are erecting new buildings, which should put some ease on demand.
Until then, though, it’s likely that the vacancy rate fo