Daring to believe

Almost all the way done with all these crazy people moving out and new ones moving in.  I must say I have high hopes for this lease term.  I feel like we might actually have a fairly decent group of people.  Nice mix of college kids, young professionals, and even some real grown ups.  So exciting. 

Still have a few empty units.  That is stressful.  I have my boss freaking out because we have 8 empty units (out of 125)  I am on a mission to get up to 100% leased.  But this year is a hard year.

In this lovely town of mine we have gone from about 350 units in this area, up to 500 units and we are awaiting nearly 900 more units/beds to open up in the next year.  All of this in a very small part of town.  This area is having a huge boom which is great, but people around here don't seem to understand that if you build it, and there aren't enough people to fill them . . .  Well at some point one of the builders will have to realize the market is a big saturated. 

College towns like ours are into this new by the bed rental set-up.   The company I work for doesn't participate in it.  Basically it is a four bedroom apartment.  Fully furnished (Gross).  Each bedroom is on it's own lease and they share the living room and kitchen.  Usually what happens is 4 friends go in on an apartment together and they don't have to share with strangers.  But if one breaks a lease, the owners of these properties have every right to put whoever they want into that bedroom.  Also if only 2 or 3 friends want to go on a lease they can fill the other spots with people who don't have room mates. This sounds like the most awful living situation ever.  Truly.  But everyone went nuts for it. 

All the college kids who don't want to live on campus that usually flock to this part of town to live and party started getting all excited about these new places.  We began to worry about all these new units/beds going in around the area.  These kids love a shiny new toy. And we are not new.  I kept looking at my 8 units I don't have lease yet.  (only 2 of them are actually empty right now, I have 6 that just don't have the next lease term filled)  I have had heartburn.  I haven't been able to sleep.  I like to see all of my places leased up.  One less thing for me to worry about.  I just knew all these other places were full.  How was I going find anyone to lease our stuff when they all had gone to live at all these new places (which aren't all by the bed rentals, some of them are very nice new apartments and lofts). 

Yesterday I was showing some places to some potential tenants.  They brought along a friend.  He happens to manage one of these places.  He and I got to talking.  They are only 50% leased.  Whaaaaaat??????  Then he told me two of the other new buildings are about the same.  I am at about 95% and I am stressing.  And they are only at 50%???  Let me just tell you I kind of feel like a bad ass now. 

Then this poor guy starts telling me about his new tenants.  And how they are all fighting about who they are living with, and how they are so rude, they complain about everything  . . . Oh this poor guy.  Didn't have the heart to tell him that I had quite a few idiots move over there.  Guessing they are now making him crazy. 

Maybe this year really will be better.  Do I dare to believe it?