Below is the graph showing that our current vacancy is just under 2.5%.  Currently the Boise Bench area is our highest area of vacancy at 4.6% with Eagle right behind it. The bench typically is a bit higher than the other areas. Eagle is a great place to live and the single family homes always do well in this area, however I find that multi-family vacancy in Eagle is always a bit higher.  Most apartment dwellers choose location to be close to school or work and there are few low paying jobs in Eagle.  Also, single family homes all over the Boise area are renting up like hot cakes right now.

 

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Based on the market data, First Rate Property Management has been increasing the rents on tenants that are month-to-month or expiring within the next two months.  This has caused some irate tenants. Some have given notice to vacate while others call to complain.  In both cases we explain that they are not paying over market rent. If it looks like we are going to lose the tenant and we aren’t too late, we are calling the owners to discuss options.

Tony A. Drost