For years, [tag]rents[/tag] have been flat or falling in cities nationwide — a result of the booming [tag]home-sales market[/tag], which transformed scores of renters into owners. But as the housing market cools, rentals are once again in demand, liberating landlords in many markets to raise rents at the fastest pace in years. They’re also cutting back on the goodies that previously helped lure tenants, such as a free month’s rent or a free DVD player.
The pace of change varies greatly from market to market. In its survey of 69 metro areas, Reis found 60 markets with rising rents, with [tag]Florida[/tag]’s [tag]Fort Lauderdale[/tag], [tag]Palm Beach[/tag], [tag]Miami[/tag] and [tag]Tampa-St. Petersburg[/tag] and California’s San Jose topping the list. It also found nine markets in which rents are flat or falling, including Buffalo, N.Y.; Charlotte, N.C.; Denver, and Omaha, Neb.
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