|Apartment Vacancy Rates Jump to Over 7% in 1Q 2009|
Washington, D.C.--National vacancy rates for rental housing in the first quarter of 2009 were 10.1 (+ 0.4) percent, according to the latest figures released by the Census Bureau. Meanwhile, apartment vacancy rates for the same time period stood at 7.2 percent, Grub and Ellis found.
|Q&A with Kenneth Olson: Keeping Property Occupancy and Collection Rates High is Critical |
Kenneth Olson is the president and CEO of POKO Partners LLC, a Port Chester, New York-based development and management company whose projects are focused mostly in the tri-state area. Olson talks to MHN about projects that POKO currently has under development, the company’s management strategy during the economic downturn, and hidden opportunities to be uncovered during the recession.
|Multi-Housing Communities Use Mystery Shoppers to Evaluate Customer Service |
Findlay, Ohio--Kelly Carmichael’s job is to walk into an apartment leasing office pretending to be someone looking to rent. It is also her job to ask a few questions about the apartments, wait for a member of the leasing office to take her around the community, and finally go back and wait for a follow-up call from the leasing office.
|Demand for Apartments Expected to Bottom Out This Year |
Boston--Demand for commercial real estate is expected to hit rock bottom this year with the apartment sector enduring the lightest demand loss in 2009 of all the commercial property types. However, that's not saying much, as this will still be the heaviest loss in apartment demand in 25 years (Graph 1), according to the first quarter 2009 forecast report from Property and Portfolio Research Inc. (PPR).