Low Rental Rates – No Tenants
Commercial property owners are finding it hard to weather out the economic turmoil that is this recession due a sharp increase in the numbers of vacant properties in and around most major city centers. Large companies in efforts to cut down on costs are either relieving most of their local staff, closing offices to relocate their people back to corporate headquarters where they don’t have to pay rent. Those are the lucky ones, for most people are simply laid off, their employers unable to cope with the financial drain the recession is exacting on them. Rental rates are at their lowest in many years as people relocate to cheaper housing options or return back home, with no job to keep them staying.