June 1, 2011

Michael Petruccelli asks; If I build it, will they pay?

Michael Petruccelli says; If income is the only reason for a rental, this is obviously crucial. Check the apartment listings, visit units and see what they are getting for the money. Some areas, such as high-rent cities or college towns, will keep a strong rental market for attached units. Others, such as those with heavy job losses, could experience high vacancy rates. Compare prices to other attached apartments, which tend to be discounted 10% or more below the rent for traditional apartments. Keep in mind, too, that homeowners typically don't raise the rent for good tenants in these types of close living situations.