Vacancy Rate in Boise
First Rate Property Management Inc. (FRPM) reported overall vacancy at 1.8% this week. The local chapter of NARPM®, (National Association of Residential Property Managers), also calculates vacancy numbers for the Boise area. The reporting property management companies averaged 2.8% overall vacancies in the same time period. The overall numbers for all reporting property management companies in the Boise area is 3.3%. Are we good or are we lucky? I think our Leasing Department is kicking butt and our overall marketing efforts are working well.
Property Managers in Boise starting to get Busy
At least I can say we're busy. In April 2010 we signed 21 leases, up 4 leases from 2009. This April we have signed 38 leases, a 45% increase over last year. Our average number of managed units in 2010 and 2011 is roughly the same. Right now we're signing, on average, nearly 2 leases per business day! We're receiving hundreds of phone calls every day and showings are booked solid. We will continue to get busier and not start to slow down until October, if statistical history repeats itself.
Robert S. Waldron
First Rate Property Management, Inc. CRMC®http://www.frpmrentals.com/
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