Imagine that same story, but it’s 7 units suddenly becoming unoccupied and you have a more plausible scenario.
Housing doesn’t work precisely the same as other goods. People don’t break their lease to jump to an apartment with lower rent.
If you have vacancy because people aren’t choosing you, you need to make changes to increase appeal.
If you had otherwise full occupancy and now you and all your competitors have 7% vacancy, you don’t need to make yourself stand out
Imagine that same story, but it’s 7 units suddenly becoming unoccupied and you have a more plausible scenario.
Housing doesn’t work precisely the same as other goods. People don’t break their lease to jump to an apartment with lower rent.
If you have vacancy because people aren’t choosing you, you need to make changes to increase appeal.
If you had otherwise full occupancy and now you and all your competitors have 7% vacancy, you don’t need to make yourself stand out