NEEDHAM, Mass. —
“WE HAD 106 5598 UNIQUE LISTINGS AND THAT COMPRISES 15,500 PLUS LANDLORDS WE HAVE. >> THE MAJORITY OF RENTALS RUN ON A SEPTEMBER 1 LEASING SCHEDULE TO COINCIDE WITH COLLEGE STUDENTS RETURNING TO TOWN, BUT WHEN THE PANDEMIC HIT, EVERYTHING CHANGED. ” -Demetrios Salpoglou, CEO
Ben Leavitt works for NextGen Realty and can be found on Instagram @NextGenBen, by phone: (617) 285-5884 or e-mail Bleavitt@NextGenrealty.com.
James Arsenault is the landlord at this Allston apartment. Arsenault usually rents out a year in advanced, but due to COVID-19 it is still sitting vacant.
“THE AVERAGE ONE-BEDROOM RENTAL PRICE DROPPED MORE THAN 8% FROM SEPTEMBER 2019 UNTIL SEPTEMBER 2020. TWO-BEDROOM RENTS ARE DOWN ALMOST 3.5%. >> IT’S IMPACTING US FINANCIALLY BECAUSE THAT EXTRA MONEY IS NO LONGER THERE. IT IS A LOT HARDER TO MAKE THOSE MORTGAGE PAYMENTS.”
Read the full Boston Rental Market Update and more video options.