Monday, September 30, 2013

CoStar to REITS: Current Turnover Rates May Require Lower Rents

CoStar reports existing institutional renters are accepting elevated rent levels as the new normal and/or haven’t found a better alternative … yet.
"As another September approaches and more new construction hits the market, REITs’ revenue maximization products will have to adjust their dials to deal with the new competition. And if they are to maintain the current turnover rate, rents will likely have to fall."
Click to read CoStar's complete article.