Tampa Bay area apartment complexes see gloom but renters see deals

Tampa Bay area apartment complexes see gloom but renters see deals

Like gas stations undercutting each other to the tenth of a penny, the apartment complexes up and down Gunn Highway are bidding for business.

Marbrisa and nearby Lofton Place have been advertising $100 move-in specials. Across the street, St. James Crossing offers $99. And Lakes of Northdale, just south of Gaither High School, will move you in for a buck.

Like so many industries these days, the multifamily rental sector is hurting.

With the epidemic of home foreclosures in the Tampa Bay area, you might think more people would be moving into rental apartments. But even that flood of potential renters hasn’t compensated for the masses that have moved in with friends or relatives, doubled or tripled up in homes, or simply can’t find a job to pay for rent.