The rental market in UTC is pretty soft right now. I’ve been renting in UTC for the past 5 years and just finished moving to a new apartment in UTC a couple weeks ago.
Prices have dropped dramatically in the past couple of months. When I first started looking for places a typical 600-800 1BR would be going for around $1400-1600 a month. In those two months priced dropped by $200 or so. Lots of apartments are sitting vacant for weeks or months and places are doing great move in specials (the place I moved to knocked $250/month off the rent for a year).
The more luxurious apartments like Regents and Palms haven’t lowered prices that much but I think they’re hurting as well. I’ve noticed quite a few more “units available now” signs around Palms in the past couple of weeks. Also when I showed interest in an apartment at The Villas the leasing agents called me like 5 times asking if I was still interested. I should have asked for $500 off per month and see what they would have said :).
[quote=flu]At the risk of sounding pessimistic…What is the rental situation in UTC these days? I mean it seems like there was a glut of developers building new apartments (for example, the one right of the 805 onramp on La Jolla Village dr/miramar rd entrance). And I see a bunch of for rent signs from condo convert owners.
