Mid-February’s Vacancy Rate

First Rate Property Management’s vacancy rate continued to lower to 2.9%. This is absolutely phenomenal. To me the number suggest a time to increase rents. The Leasing agents tell me “No, it’s the low rents and incentives that are getting us so much activity”. I’ll continue to watch and unless we have numerous properties in a given area, I’ll probably be pushing leasing to begin cutting back incentives and not to be so quick to drop the rent.

Tony’s Absence:

I am sorry, I never updated everyone on my election as the National Association of Residential Property Manager’s (NARPM’s) 2010 President-elect. Which means unless I screw it up, I’ll be NARPM’s President in 2011. This is a volunteer role that I really enjoy, but it does require some travel. When I am traveling it is difficult to return calls, due to time zone changes and that I am up early and back late. I am generally able to catch up on email in the late evenings. So as a general reminder, below is the contact information for the department heads. Each of these should be able to respond to any of your questions or concerns in a timely manner.

General Manager- Lizz Loop, MPM® RMP® 208-577-5202    Lizz@FRPMrentals.com

Leasing Manager- Maria Swanson 208-577-5203   Marie@FRPMrentals.com

Maintenance Coordinator- Sheila Thomason 208-577-5201   Sheila@FRPMrentals.com

Accounting Manager- Cathy Hazlett  208-577-5204   Cathy@FRPMrentals.com