by Calculated Risk on 6/20/2010 09:42:00 PM

Some landlords think rents have bottomed ... other are not so optimistic ...

From Jon Lansner at the O.C. Register: ‘Worst ever’ market hits O.C. landlords

Veteran Orange County apartment owner and manager Ray Maggi says this the current rental market “is the worst I’ve ever seen” for landlords.
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Last year, landlords usually offered free months of rent as lures for new tenants. This year, Maggi says, more landlords have simply slashed rents to meet tight-fisted renters who have plenty of choice.

Making matters worse for property owners is that a growing number of tenants aren’t keeping up with payments. Charge-offs have roughly tripled to nearly 3 percent of rents due.