Boston Pads in the News

Renters searching for an apartment in the Boston area may have something they have not had much of in recent years: leverage. Apartment availability in Boston has more than doubled compared with this time last year, according to Boston Pads. With Sept. 1 approaching, some landlords are cutting prices or offering incentives to fill units that remain available.

Cambridge has passed one of the most ambitious multifamily zoning laws in the country. The Cambridge City Council on Monday night voted 8-to-1 to allow apartment buildings of up to four stories on any lot in the city. The law would allow six-story buildings on lots of 5K SF or more if the developer reserves 20% of the units as affordable housing.

About 70% of Boston leases turn over on September 1. For a 2-4 unit owner, one missed turnover costs roughly $10,500, or 17% of the year's NOI.

Boston Pads announced today that its property database has officially surpassed 20,000 landlords, marking a major milestone in the company’s expansion beyond its original Greater Boston footprint and into communities throughout Massachusetts.

In both Boston and the Greater Boston area, the availability rate, which includes apartments both vacant now and those that will soon become vacant, for rental units has almost doubled year over year, according to data from Boston Pads.

Boston has some of the highest rents in the country. It’s also got confusing rules about what fees tenants have to pay. GBH News put together a video with everything you need to know before you rent in Boston. Here are four takeaways:

One thing that hasn’t changed is Boston’s reputation as a “city of neighborhoods” — a patchwork of micro-communities, all with their own history, culture, and quirks. So if you’re looking for a place to live, just remember that the name of the game is location, location, location.

The number of available apartments in Boston is at its highest in years, forecasting a potentially easier time for renters looking for a new home, according to new data.

The apartment availability rate — which includes units that are currently on the market or will be soon — is at 7.21% within the city of Boston and 6.46% for the Boston region, up about 36% from this time last year, according to apartment listing platform Boston Pads.

Apartment availability in Boston is at its highest level in years, according to a report from Boston Pads.

Demetrios Salpoglou, CEO of Boston Pads, attributed the increase in part to a harsher winter, noting that apartment showings in the city were weaker in January and February.

"This year, our apartment leasing market started a lot later than usual and many say the two months of horribly cold and snowy weather also factored into a later start," Salpoglou wrote. "Landlords started asking if their tenants are staying or going a bit later."

Apartment availability in Boston is at its highest level in years, according to a report from Boston Pads.

Demetrios Salpoglou, CEO of Boston Pads, attributed the increase in part to a harsher winter, noting that apartment showings in the city were weaker in January and February.