Apartment communities can capitalize on the current economy.  In the past, consumers who wanted any particular item could rely on readily available credit to simply purchase the item.  This is no longer true.

Consumer credit has fallen 7 straight months.  In July, credit fell $21 billion.  In August, credit fell $10 billion.  In September, credit fell $12 billion.  News reports this week describe consumer spending as weak and focused on necessities.

A multifamily operator with imagination is uniquely positioned to be the value provider to residents.  For one price and some imagination, a community can:

• Reduce the cost of living,
• Reduce outlays for necessities, and
• Provide luxuries that are otherwise unavailable.

Communities can provide services for good profits yet at a discount to alternative sources because your community is captive, your collections process is in place, and your staff is already positioned to provide much of what is needed.

Secondarily, the environment may be right  to significantly increase retention.  And, increasing retention reduces cost.

Blake

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