Century Blog

Lincoln Market Update

Apartment Sales Activity has been strong in the last couple months while commercial sales and leasing has remained very slow.  Apartment sales activity may be strong right now because interest rates are low and we believe apartments are poised for significant rent increases during 2011-2013.  Here is our reasoning for this projected rent increase:

1. Significant government spending will most likely result in higher interest rates making it more difficult to purchase a home.
2. Tightened credit also makes it more difficult to buy a home.
3. Government spending will most likely cause inflation raising the price of most goods and services.
4. Slower construction rates in the city in recent years has not kept pace with normal absorption of rental units. 

At Century,  we began raising rents in 2008 and continue to find success in doing so during 2009.  Additionally, one of the leading eviction attorneys in town claims evictions are decreasing too as a result of more demand for rental units and landlords raising their tenant approval standards.  These are all good indicators for a future rental market that is even stronger.

If we can be of help to you in the management or brokerage of rental property please contact David directly at 437-8332.