Saturday, February 11, 2012
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A renter's market

Capital Gazette Communications
Published 06/07/09

Annapolis area apartment complexes are holding off from raising rents and are throwing in freebies and generally becoming less rigid as they struggle to attract tenants in a recession.

Joshua McKerrow — The Capital Sara Walters, community manager at Regatta Bay apartments in Annapolis, above, said tenants are being offered one month’s free rent and flexible renewal plans. Managers at apartment complexes throughout the area are making similar concessions in an effort to keep and attract renters in this tough economy.
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Sara Walters, community manager at Regatta Bay, a Housley Road apartment development where the average monthly rent is $1,300, said tenants are being offered one month's free rent and flexible renewal plans.

And in some cases, renters are given permission to turn over their lease to someone else instead of breaking a contract, she said.

"People are in dire straits right now so we're not increasing (rents) to the average market...

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