Report: Rent cuts, concessions doing little to attract renters

01/2/2009 |

In response to competition from the glut of single-family homes and increasing layoffs, property managers in 13 of the nation's largest multifamily markets are cutting rents and offering concessions but with little impact, according to a Bank of America survey. In the next six months, apartment REITS with "niche defensive plays" and "healthy balance sheets and limited near-term development risk" will be in the strongest position, according to the report.

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