Why Renew Your Davis Apartment Lease Now?

As the economy improves, Davis apartment availabilities are expected to drop and rents will go up. Economists are warning renters to lock in favorable lease terms on their Davis apartments for next year, while they can.


By Les Christie, staff writerMarch 22, 2011: 10:53 AM ET

NEW YORK (CNNMoney) — Renters beware: Double-digit rent hikes may be coming soon.

Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years.

“The demand for rental housing has already started to increase,” said Peggy Alford, president of Rent.com. “Young people are starting to get rid of their roommates and move out of their parent’s basements.”

By 2012, she predicts the vacancy rate will hover at a mere 5%. And with fewer units on the market, prices will explode.

For more information on why you should renew your Tandem apartment lease now, read the rest of the story at CNN.com.