Apartments could sit empty Sept. 1 as international students hesitate to sign leases

Boston's rental market is facing a notable shift as international students hesitate to sign leases ahead of the September 1 move-in date. Mission Hill and Fenway are reporting significant increases in apartment availability, with Mission Hill seeing over a 90% rise compared to last year. This increase is largely driven by uncertainties regarding international student visa statuses, exacerbated by recent administrative policies. Real estate manager Gabriella from Kenmore Properties indicates that international clients have dropped from 50% to 20% of their business, leading to stalled leases despite readiness from many prospective renters. Landlords are adjusting their strategies, with some lowering rents in anticipation of continued uncertainty.

Meanwhile, Cambridge's availability rate is up 20% from last year, reflecting broader trends across the city. Local universities, including Boston University and Harvard, contribute significantly to the economy, emphasizing the importance of international student enrollment. Despite these challenges, there are signs of renewed activity among international student renters in recent weeks.