According to recent news reports, because the economy has been so uncertain and the real estate market so volatile, more people are opting to rent apartments than ever before. Therefore, in popular cities like Orlando, Chicago, Minneapolis/St. Paul, Asheville, Toronto, Grand Rapids and Palm Beach, the new apartment construction business is booming.
Home ownership has dropped to 64%, while apartments are at a less than 7% vacancy rate at this point. Many people also enjoy the convenience and trendiness that modern apartment living affords them, with upscale amenities, balconies with lovely views, well-manicured lawns, clean grounds, and convenient, big box shopping, dining and entertainment right next door. In fact, the demand for apartments is so great that builders can't find enough workers to build the complexes quick enough.
The College Market
Another great rental market is the college dorm/college housing one. Kids need places to live every year and many of them have mom and dad, student loans or scholarships, footing at least part of the bill. In addition, you can put 4 kids in one 4 bedroom apartment and charge them $500 each because of the location and the demand. If you put a single family with say a cousin or grandparent or two in that same apartment, you might have to charge $400-$600 less/month.
Tenants and Trust
Though renting apartments is lucrative business, it does have its downfalls, (namely damage to your property). You can run background and credit checks on your tenants until the cows come home, but sometimes people welcome guests onto your property that do damage to it; or go through a major life change and become different people themselves, (people you wouldn't want to rent to).
For example, police are investigating a Greensboro College dorm trash can fire, and it looks as though an arsonist set the fire intentionally. Why? Well, unfortunately, people don't always take care of property that doesn't belong to them.
Why Use Boss Corner Guards?
Though corner guards can't protect your property from an arsonist's fire, it can protect your property in many other ways. In reality, you should never rent to people without having stainless steel corner protection throughout your property.
Contact us at Boss Corner Guards today for more information on our various solutions. We offer amazingly durable steel corner guards in stainless steel and aluminum checker plus, and high-strength industrial styles. They can attach securely to drywall, brick and plaster walls and look quite beautiful with all decor schemes.