The tight apartment market has led to a wave of new buildings coming to the market at the same time.
The tight apartment market has led to a wave of new buildings coming to the market at the same time.
Empty apartments aren’t making those new owners any money, so in an effort to hurry the initial lease-up, many landlords in the Portland area are offering move-in concessions to get tenants into long-term leases.
“As these new urban units come online, we do expect a few more concessions, especially during the lease-up periods,” said Patrick Barry of Mark D. Barry & Associates, an apartment appraisal firm. “We also expect a slight increase in vacancies as more supply hits the market.”
Read more at OregonLive.com.
