Enjoying those low, low rents and prompt repairs that have made A2 such a “renters’ market” over the past few years? Well, the market may be about to get tighter, according to a story in the new Observer. “The vacancy rate is dropping — in small increments, but dropping nonetheless.”
How does the Observer know that it’s dropping? The U’s housing office keeps detailed records of these numbers, which have been relatively high in recent years. “The office hasn’t yet calculated this year’s vacancy rate, but it’s likely to be down.” So, in other words, they’re basing the entire premise of this article on statistics that have yet to be computed, but, when they are computed, are certainly going to confirm their predictions.
Not that the Observer would make such an assertion without compelling reasons. The writer (the piece is un-bylined) has two pieces of evidence. First of all, some apartment advertising banners at State and Kingsley (a short jaunt from the Observer’s office) have disappeared. No mention of when they were taken down last year. Also, “landlords say fewer apartments are sitting empty.”
Oh, well, if they say so. The piece quotes a leasing agent and a landlord who claim that vacancies are going down, and a management company representative who talks only about how low the rents were this year. “In July, the calls for one-bedrooms went through the roof,” says the leasing agent. Normally in A2, it’s mainly squirrels and rain that go through the roofs of rental properties.
The piece is nicely timed to coincide with the beginning of the rental season under the new ordinance. Remember, kids, take what you can get — this sweet renters’ market isn’t going to stick around much longer.