Elvis joined TenantTech at MMHA’s Spectrum Trade Show last week to enjoy the “Hollywood” theme. While Elvis was singing “Heartbreak Hotel” we heard from several attendees they were enjoying “stable” properties citing low rental vacancy rate/high occupancy percentages.
I had the good fortune of teaching two classes this year, Leasing 101 and Advanced Leasing. In both classes, I produced a brief snapshot of our current market; in Oregon, unemployment is currently (July 2011) at 9.5% and weighed in at 4.1% in the first quarter of 2011 with the lowest rental vacancy rates in the USA. Overwhelmingly, class attendees agreed that despite pessimistic unemployment rates and foreclosures, people are still renting apartments/homes!
Thanks for visiting us at Spectrum! If you missed, or even if you attended and are interested in hearing a more detailed synopsis of the property management market, I’d encourage you to attend MMHA’s Apartment Report Survey Breakfast next month, on October 19th, 7:30am, at the Multnomah Athletic Club. Check out the distinguished panel of speakers; it’s sure to be informative!
Have a great day!