Two Year Best

Two Year Best
By: Nicholas A. Dunlap, CPM

Unemployment has decreased to 8.9%, the lowest in nearly two years. For those of us in consumer driven businesses and in this case, the rental industry, these statistics certainly mirror what we have seen in our leasing offices. An increase in calls, improving credit ratings and expendable income have lead to a decrease in move-in specials and concessions and an increase in occupancy.

Will we see these improving circumstances transcend into the investment sector? In some instances, we already have. All cash buyers are snapping up properties of all sizes in primary markets such as Orange and Los Angeles counties, with smaller apartment complexes selling to cash heavy buyers through multiple offers and decreased due-diligence periods.

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