End of the Year Multifamily Data - Wall Street Journal Reports

The Wall Street Journal reported this morning that while we may begin to see some recovery in the single-family home market, we can expect multifamily properties to take much longer.

Construction is seemingly at a stand still as the National Association of Home Builders reported that its sentiment index fell in December to its lowest level since mid-year. Completions of apartments are down 16% from two years ago, and new permits for construction in October are down 75% on average.

The bottom-line is that things are tough right now, there is a lot of inventory, and fewer renters. This is nothing new, but during the holiday season when things are especially slow, it becomes more compounded. This is the time when you really need to push every available vacancy. That mean personally showing every vacancy, pushing a listing with aggressive marketing, and working with prospective residents. As an owner there comes a point when you've got to ask yourself, why do I continue to have vacancies, while other buildings stay occupied or lease up so quickly?

At Pacific Shore Property Management we have the answer! To learn more about why we're the preeminent Los Feliz Property Management Company please call or visit us online today!

(877) 4-PSPMLA

or

www.PSPMLA.com