Rents on Boston rentals drop because of Covid-19.

A rental apartment broker walks into a landlord’s office and pays the Broker Fees for 30 apartments so his prospective tenants won’t have to. Without a tenant doing rental deals, a BROKER has no income.

An Allston 2BR owner is asking $1,900 with no security deposit or broker fee. This is a price reduction.

A brand-new Mission Hill studio apartment is being rented for $1,500, a Twenty-percent drop from what it was renting for pre-pandemic, with no fees.

studio in Brighton for $1,250. A posh one-bedroom with a roof deck on Beacon Hill, usually in the realm of $2,600, is available for $1,900, with heat included.

THIS PRICE EXAMPLES COME FROM THE MARKET RATE real estate sector. Units mentioned in this article are not designated as “Income-Restricted.” As you can see, in some cases the rent price is the same for these market rate units are they are for the quote “Affordable Rates.” So let’s working on find them for you.

Connect.

Read cases like these about the slide of rental cost deals in a great story produced by Commonwealth Magazine recently. Here’s the link:

The article quote one Kristie Aussubel, the owner of Presidential Properties as saying she has a three-bedroom apartment on Beacon Hill available for $1,000 below its original asking price of $3,500. “That used to be the market price of a one-bedroom,” she said.

Includes in the article is another example of RENTAL COST GOING DOWN: where the tenants who used to pay upfront the first and last month and security deposit and a broker’s fee can get away with NOT paying 1st and Last and they can get ONE MONTH free.

IF YOU ARE BLACK

Maybe rents are going down in Black, Hispanic and other minority neighborhoods because they are in White neighborhoods.

Landlords own properties everywhere and they will DISCRIMINATE against Blacks, Blacks with African names, married renters with babies or kids, and everybody with a Section 8 voucher or any kind of voucher. It is a proven Boston fact!

How horrible is that!
A 2020 report said landlords and brokers work together to prevent Blacks and others from renting apartments in the city of Boston.

If a landlord said No Black People and No Section 8, the Brokers would not show unit to them.

According to this Suffolk Law School study, renters were discriminated against quite often in Boston. The report recommends how to fix this problem. Do you remember what the fixes were. See how here.