Stong demand for rental apartments in 2008!
There's strong demand in 2008 for good quality rental apartments that are stylishly furnished for the sophisticated renter. Yes! There's definitely a different breed of apartment renter in town. Could the apartment market finally be coming of age?
This new breed is smart, sophisticated and well educated in apartment buildings. They are prepared to pay the price for stylish and well furnished apartments. They often can afford to buy their own home (may even have a couple of rental properties under their belt). These people rent for lifestyle. Don't show them peeling paper and tacky chain store furniture!
Personally, I can't see why any landlord would want to attract any less than top notch tenants. Surely, these are the ones that give you the least headaches? It's always good to remember the quote "The measure of a mans success is not by the quantity in his portfolio but by its quality."
So, what does a landlord have to do these days to rent his apartments? Well, for starters it seems a new paint job, carpet and new furniture is the bare minimum. You may have to throw in the latest latte machine plus a gym membership to seal the deal!
Competition is definately going to be tough as developers roll out quality apartments targeted at these high end renters.