South Florida Dirt: Worst is over for multifamily landlords

The tide is beginning to turn back in favor of multifamily landlords, but it’s still too early to get excited.  Developers are starting to pull back on leasing incentives and bring rents back up after an oversupply benefited renters. At the end of the second quarter, the number of new leases (13,774) surpassed the number of apartments completed (12,751), marking the first time in three years that demand has outpaced supply, according to CoStar. At the depth of the oversupply, new leases trailed completions by 56 percent, so the market has definitely improved.  CoStar’s Juan Arias confirmed that the worst […]

This article originally appeared on The Real Deal. Click here to read the full story.