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Don't Sell, Just Rent It Out

Per WSJ: Rents Fall for First Time Since Late 2020

Apartment rents are falling from record highs across the U.S. for the first time in nearly two years, offering the prospect of relief to millions of tenants who have seen steep increases during the pandemic.

August apartment asking rents nationally slipped 0.1% from July, according to a report from property data company CoStar Group. It was the first monthly decline in rent since December 2020, the company said.

Other surveys also showed rent declines of various degrees. Apartment-listing website Rent.com showed a 2.8% decrease in rent for one-bedroom apartments during the same month. The listings website Realtor.com also noted a slight monthly decline in rent this August. (News Corp, owner of The Wall Street Journal, operates Realtor.com under license from the National Association of Realtors.)

The decline is obviously very modest, but could just be the tip of the iceberg, especially if the labor market takes a hit.

submitted by /u/NopetoTheDope
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source https://www.reddit.com/r/RealEstate/comments/xpdrqh/dont_sell_just_rent_it_out/
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