#73658On Sunday, September 23, 2007Guest (not verified) said,
Being in the business for 12 years, I can tell how new communities usually do business. They set their rents at a certain rate and then they set a scale that after a certain number of leases, they raise rents. It's usually every 10-15 leases they raise rents by about $15-$20. They do this until they reach occupancy of about 90% or better or until they get the rents so high that the market cannot handle the rates. So, this means that the 1st tenants are paying less than the recent tenants who have moved in. It's kind of like saying THANKS for giving us a try before anyone else does.
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Being in the business for 12
Being in the business for 12 years, I can tell how new communities usually do business. They set their rents at a certain rate and then they set a scale that after a certain number of leases, they raise rents. It's usually every 10-15 leases they raise rents by about $15-$20. They do this until they reach occupancy of about 90% or better or until they get the rents so high that the market cannot handle the rates. So, this means that the 1st tenants are paying less than the recent tenants who have moved in. It's kind of like saying THANKS for giving us a try before anyone else does.
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