12 Cities Where Renters Have More Bargaining Power This Winter [Forbes]
REALPAGE (RP)
Last realpage earnings: 2/27 04:05 pm
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Source: Forbes
Closeup of red, white for rent sign attached, hanging on wooden apartment, house, home, building door with glass windows Getty Renters looking to save on their monthly costs might want to consider a move — and fast. According to a new analysis, apartment bargaining power goes up in the winter, especially in colder markets. Recent data from RealPage, a property management solutions company based outside of Dallas, shows that apartment rents tend to drop toward the end of the year, remaining relatively flat through the next quarter. This gives renters increased bargaining power on their monthly costs. This leverage is especially apparent in bigger markets with low temperatures — places like Milwaukee, Chicago, Indianapolis and Boston. “The largely flat rents seen in fourth quarter and first quarter reflect that relatively few renters move in that time period,” said Greg Willett, chief economist at RealPage. “Cold weather makes the moves more difficult, and
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