Quote:
Originally Posted by Hayward
This is actually the type of property a poor economy generates. Rental. And luxury rentals are in very high demand as less people become homeowners but demand a higher level of service and amenities.
My only question is Ann Arbor's rental occupancy percentage. I'm very curious as to what it is with all the new construction. Nationwide it's something like 92% with major US downtown and core areas reporting numbers in the 94-98% range. That's not alot of available inventory. And the shortage may even be more severe when you take into account condos going rental. We can't build these fast enough.
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This is what I keep telling my employer. We keep building and rehabbing houses and I'm trying to get small scale rental (under 12 units, townhouses and such) back into our portfolio. There's so much potential to densify our corridors in Michigan right now.