Two decades ago, if you wanted to rent an apartment, you would have to sign a two-year lease even if you were moving into a two-bedroom apartment on the fifth floor without an elevator. Things have changed a lot since then. The rental market is continually adapting to various market conditions. People have access to a lot more options than they used to. Buildings feature new designs, greater innovations, community planning activities and more.
The rental market looks like it will remain strong in 2019 as rates of occupancy range between 94 and 95 percent, and rent increases should fall between 2 and 3 percent. As for the changes to come in the next few years, here are some predictions.