Glut in housing, lack of tenants mean better deals
It’s a good time to look for an apartment.
Lee County landlords have begun slashing rents and using other incentives to boost sagging occupancy rates brought on by a limp economy.
“It’s a smorgasbord of concessions,” said David Malt, broker for Malt Realty, a Fort Myers-based manager of multi-and-single-family home developments and homeowners’ associations.
A tenant pool hit by people leaving the area after job losses and a glut of available single-family homes have combined to decrease demand and create a renter’s market. Property managers and rental market experts say it’s a market that should linger through 2009 and perhaps beyond.