Student market
The student market is still changing. We are seeing a lot more vacancies even this late in the pre-leasing season. Many tenants are still looking. With the number of available units they can afford to shop for deals. A number of properties have lowered rents in order to lock in tenants before we get to the slower summer season. With the University looking at making their Bear Creek Apartments more attractive we may still see more downward pressure on this segment of the rental market.
Environmental Enforcement
In an earlier newsletter we let you know the City is cracking down on rental violations. We also found out that the first thing Environmental Enforcement checks is the status of the rental license. If the license is not current the landlord/agent will receive a court summons and be subject to a $1000 fine.
Please note: we are finding that the City notices of rental license expirations are not always getting to the landlords or agents. You should check the City website to make sure your properties are current. The City will not accept the defense that you did not receive the notice.
