This section will deal primarily with the Student Rental Segment. Please see the Rental Market Section for overall market information.
The student market continues to confuse and confound owners and landlords. In normal years the majority of student rentals are pre-leased for Fall. This year, however, we are seeing a very high vacancy rate and many students state they are just starting to look. We attribute a lot of this to the continuing controversies at CU and their insistence in raising tuition. Add that to both the Daily Camera and Colorado Daily newspapers telling them to wait for prices to come down and we see a depressed market. We still have a number of vacancies as do all my competitors whith which I have spoken recently. One source stated the vacancy rate at the new CU Bear Creek Apartments was about 40%. Price continues to be the driving factor. Rents are still dropping as owners try to attract renters. This does not seem to be having a strong effect on the typical non-student rentals. We will have to wait to see how this segment resolves after the classes begin on August 22nd.
