Vacancy Rates on the Rise

Apartment vacancy rates have officially hit their highest point since 1986. The U.S. vacancy rate hit a 23-year high of 7.8% across the country. The unemployment rate has also surged to a 26-year high of 9.8% across the country.

These number are very closely related. As unemployment rises, would be renters seem to be doubling up and splitting rents with friends or family. The under 35 years old demographic, historically making up a large percentage of the would be renter pool, has been hardest hit by unemployment. This would explain the close relationship between unemployment rates and vacancy rates across the country.

The bottom-line for property owners is that in today's rental market you need to make sure your property management company is doing everything they can to woo prospective renters. A recent search of 1-bedroom apartments available in Echo Park showed 97 current vacancies! If you're looking for an Echo Park Property Management Company you should call Pacific Shore Property Management today at (877)4-PSPMLA.

At Pacific Shore we always show every apartment by appointment so we can highlight all the great features of both the property, and our company. One such feature that's sets us apart from other Property Management Companies in Echo Park is our exclusive 48-Hour Maintenance Response Guarantee. To learn more about our resident guarantees and our company please call us today, or visit us online at:

Pacific Shore Property Management

www.PSPMLA.com

(877) 4-PSPMLA