Apartment managers should not rush to cut rents, even if a flood of new apartments are expected and the construction cranes loom over their properties. If vacancies are still low, there still may be time to raise rents before competition for tenants forces existing apartments to trim their rental rates. “You can take the haircut in rents too soon,” says Greg Willett, vice president for MPF Research. As the national economy strengthens, demand for apartments is improving overall, ...
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