February 2, 2025

Breaking the odds in rentals

Mahoning Matters -  A landlord in Maine has shared a rare find after one of his tenants, who had lived in the same apartment since 1992, recently moved out-left behind a perfectly cared-for home that stunned him.  Syed Zafar purchased the building in May 2024. Born in 1993, he was amazed when he entered the apartment that had been the home of the same woman since before he was born.

"I was really taken aback because it does not look like this place was lived in for 32 years," Zafar told Newsweek. "It was in such great condition for its use and age." Despite appliances older than Zafar himself, the space had flawless carpets and floors. "It's not often you find a place where someone lived for 32 years and kept it in such good condition," Zafar said. "Definitely will never see that again."

The time the previous tenant spent in the home was particularly unusual, in fact, according to research by ResidentRated, the average length-of-stay for a U.S. renter in a multi-family building is just 27.5 months, or just over two years.

Renters in the Northeast have the longest average stay at 32.9 months, while renters in the South are moving most often with an average stay of 24.3 months.

When it comes to finding somewhere new to live, renters seem to be moving quickly. In 2023, the U.S. Census Bureau revealed that over half (58.5 percent) of renters found a new place to live in less than a month. During this time, 46.9 percent of renters viewed units in only one neighborhood, and 64.2 percent visited just one unit in their chosen neighborhood before deciding to move in.

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