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Apartment rents are rising across the nation as tenants return to cities and soaring home prices push many would-be buyers out of the market.

One data provider shows the median rent for a one-bedroom apartment is up 9.2%
since the second quarter of 2020. Two-bedrooms are up 11% during that period. Negotiating power has shifted toward landlords.

Earlier this year, renters could expect one or more months off a typical 12-month lease. Those days are gone.  I would expect the need for better credit and heftier down payments will be coming to cover those who paid nothing and walked away after the Covid eviction restrictions.

This is one business, that I was pleased to not have been a part of during those times, the eviction exclusion lasted far longer than any mortgage allowances granted by banks.

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