According to a recent study, 35.9% of renters with leases expiring in the next six months are likely to not renew said leases. In addition, renters who pay upwards of $1,750 a month are even less likely to renew with 41.6% of these consumers planning to not renew their lease. Furthermore, only 34.1% of renters said their management company has offered payment plans for May’s rent while 65.5% are unaware of any state or federal program to assist them with rent payment issues. With less people choosing to renew their leases, more buyers may soon be entering the market.
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