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Queens’ rents continue to rise in 2014. Most neighborhoods rental rates have been accelerating over $100 since last year, proving how strong the rental market is. Many buyers continue remain frustrated at the lack of product, availability of financing, and numerous foreign all-cash buyers providing easy deals for those who put their properties on the market. Many renters continue to renew their leases as landlords have been striking a delicate balance between renewal rates and potential vacancy . They have been raising the rents enough for people to look at other option but not enough to make them incur the cost of leaving due to the moving expenses and just slight differences in rent. Many Spring and Summer renters have been calling in trying to take advantage of sporadic Winter incentives, such as, a free month or partial broker fee being paid by the landlord however it is way too far in advance to be looking. Spring and Summer rentals can increase by approximately 20-30% from their Wintertime lows.See the chart via Streeteasy.com for more info below.

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