Scottsdale, Ariz. (PRWEB) August 19, 2009
The American Tenants Association (ATA, http://www.american tenants.org), the country's only nationwide tenants advocacy group, called on America's 95 million residential renters to take advantage of one of the highest rental vacancy rates in recent history. Currently standing at 10.1% nationally, this rate represents a rate of increase of more than 5% from the last quarter of 2008.
According to William Deegan, the ATA's Executive Director, "This unprecedented nationwide vacancy rate represents an outstanding opportunity for renters to re-negotiate better rents or seek out higher quality housing at lower costs. For once, tenants are in the driver's seat. We don't have to automatically accept whatever increases landlords think they can get away with."
Mr. Deegan went on to say that residential renters are in an excellent negotiating position to benefit from the housing surplus. "It's a simple issue of supply and demand. Tenants can put the pressure on landlords for a change and squeeze them for rent reductions or better housing accommodations", he added.
Stan Dale, the ATA's Director of Public Policy, indicated that the high rental housing vacancy rate is a result of several complimentary factors including the housing glut caused by speculation due to easy credit, the current state of the economy and demographic shifts including a dramatic slow down in the growth of the sunbelt. Mr. Dale noted that "The ATA will monitor local rental vacancy rates and advise residential renters of attractive rental opportunities".
Mr. Dale listed the nation's "top ten" Metropolitan Statistical Area residential vacancy rates as reported by the United States Census Bureau:
1) Richmond, VA: 23.7%
2) Dayton, OH: 21.7%
3) Detroit, MI: 19.9%
4) Memphis, TN: 19.6%
5) Phoenix, AZ: 19.0%
6) Indianapolis, IN: 17.1%
7) Cleveland, OH: 16.8%
8) Atlanta, GA: 16.1%
9) Las Vegas, NV: 16.0%
10) Austin, TX: 15.8%
The American Tenants Association is open to all residential renters and supporters of tenants' rights. Membership in the organization is free. The ATA's website is http://www.americantenants.org.