Monday, February 15, 2010


Boomerang Kids

I am sure you have heard this term over the last few years. Even before the economy tanked a lot of 20 somethings were moving back in with mom and dad. Now the Pew Research Center has found that 1 in 10 adults between 18-35 are moving back in with their parents because of the weak economy. All this is causing the vacancy rate in apartment buildings to be at its highest level in 23 years. Census data also shows that less young adults are living alone so even if they are not moving in with mom and dad they are moving in with roommates. This is also causing a disproportionately higher level of vacant one bedrooms.

Don't raise your rent this year. It is very important in this economy to retain the tenants you have, it is the cheapest way for you to do business. Take good care of your tenants especially the good ones. You might even consider a rent reduction for a really good tenant or up-grading their apartment if possible.

Monday, February 08, 2010



I am actually not that into statistic, probably should be in my line of work. Still I enjoy this site,, and some of the stats it has to offer. I decided to check out Logan Square where I live and have my rental buildings. Here are some of the interesting stats that I will think of in the future when renting. The media age is 28, the average household is 2.9 people, 69% of the households are renters (that one was a surprise). There are a few more men renting in Logan Square than women, that could be interesting if you are 28 and single. A little over 30% of the residents are near or below the poverty level (I wish this was a surprise).
Check out your zip code and see how it compares. I think it could be useful when targeting tenants to understand who the average tenant in your community will be.

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