Bloomberg Wealth: It's Never Been a Better Time to Be a Landlord

Remember those stories you used to hear about home-buying mania? Get ready for tales from the rental side.

The U.S. is witnessing the biggest increase in tenants in history. In July, the rental occupancy rate hit 97%, allowing landlords to flex unprecedented pricing power. People who signed new leases last month paid 17% more than the prior renter, the highest surge on record.