Rob Vogt Cited in Columbus Dispatch - 08/04/2014 Liz Young cites Rob Vogt in the article, Apartments in central Ohio trend toward high end. The article discusses the effect the amount of high-end apartments will have on the Columbus rental markets rents and vacancy rate. Central Ohio has added more than 7,500 new apartments to the market since the beginning of 2013. Many of these properties are in urban areas and targeted toward baby boomer, empty-nesters and millennials, according to Rob Vogt. Although many new units are being added to the market, rents are not expected to decrease at Class A properties. If the vacancy rate rises, Vogt said, it could mean more options for renters. Some landlords might waive security deposits or provide a free microwave as part of the deal, and others might invest in upgrades such as landscaping and stainless-steel appliances to draw tenants. Vogt said its hard to say whether an upward trend of vacancy rates and average rents could continue after this year. He said that while developers likely will continue building, the question is whether they will be able to find locations. These sites are starting to become fewer and fewer, Vogt said. Overall, he said, the increased number of new and renovated properties might draw people to the Columbus area. Its a positive thing for central Ohio in general, he said. Read the full article at the Columbus Dispatch. dispatch/content/stories/business/2014/07/29/apartments-trend-toward-high-end.html
Posted on: Mon, 04 Aug 2014 20:37:08 +0000
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