APARTMENT NEWS

ARCHIVES 2010:

N.C. Triangle Apartment Managers Working to Fill Vacancies - 01/09/10
Digested From "Triangle Apartment Managers Working to Fill Vacancies"
by Amy Thorpe

Reis Inc. reports that apartments in North Carolina's Triangle region are faring better now after an increase in the number of vacant rental units last year. While the vacancy rate in the Triangle rose in September 2009 to 9.5 percent, it is better than the more than 10 percent rate measured just six months earlier. More and more apartment owners and managers are offering amenities to entice new residents.

Frederick Dean Jr. of the Triangle Apartment Association (TAA) states, "Some are running free televisions with every move in." According to the TAA, filling empty apartments runs on a cycle, seasonally and over several years. Dean concludes, "Cycles run five to seven years. When you look at new construction versus properties that are being finished and built versus money for financing, those items effect us greatly in the Triangle as it does around the nation." He adds that many local owners and managers are feeling optimistic about the year ahead and believe the div erse appeal of the Triangle area will fill empty apartments in the months to come.