Interview: Rental Housing Trends

Sonseeahray Tonsall reports

HOT AROUND THE REGION.

ALL THESWEATING IT OUT OVER THEWEEKEND GOING TO BE NOT IN THETRIPLE DIGITS THIS WEEK JUSTTHE 90'S.

SPRING AND SUMMERTYPICALLY THIS SEASON, SOMEPEOPLE ARE MAKING MOVES BUTDUE TO THE PANDEMIC THINGS AREDIFFERENT WHEN IT COMES TOLOOKING FOR A NEW PLACE TOLIVE.BRIAN CARBERRY FROMAPARTMENT GUIDE IS JOINING USLIVE TO TELL US ABOUT HOW THECORONAVIRUS IS AFFECTING THERENTAL HOUSING MARKET, GOODMORNING TO YOU.HI GOOD MORNING.A LOT OF THINGS ARE MOVINGVIRTUAL HOUSE IS BEINGINCORPORATED INTO LOOKING FORA NEW PLACE THIS TIME OF YEARIN THE MIDDLE OF THE PANDEMIC.YES, SO RIGHT NOW REALLYCAN DO EVERYTHING FROM THECOMFORT OF YOUR COUCHEVERYTHING FROM SEARCHING FORAN APARTMENT TO APPLY FOR THEDEPARTMENT EVEN SIGNING OF THEEAST YOU CAN ALL DO THATVIRTUALLY SO YOU POTENTIALLYCOULD FIND A NEW PLACE TO LIVEIN THE VERY FIRST TIME YOU SETFOOT IN THAT COMMUNITY IS WHENYOU'RE PICKING UP YOUR KEYS TOTHEIR IT'S SOMETHING THAT ALOT OF PROPERTIES ARE TAKINGADVANTAGE OF RIGHT NOW.

AND ALOT OF RENTERS ARE TAKINGADVANTAGE OF 2 AND GOING ONVIRTUAL TOURS WITH PEOPLE ANDTHEY REALLY GET ALMOST THESAME EXPERIENCE THAT THEYWOULD GETS AS THEY WENT OR INPERSON ALBEIT FROM ALL.I HOPE THOSE VIRTUAL TOURSARE ACTUALLY LIVE AND NOT JUSTA SERIES OF PICTURES BECAUSEWE ALL KNOW THE PICTURES CANSOMETIMES BE DECEIVING MAKETHINGS LOOK A LOT BIGGER THANTHEY ACTUALLY ARE HOW THEYACTUALLY PLAY IN PERSON.YOU KNOW IT IS ACOMBINATION OF BOTH REALLY ALOT OF HARTMAN COMPLEXES HAVEMADE VIDEOS THAT THEY KINDWALK THROUGH TO WORK, BUT YOUCAN ALSO DO A LOT OF TOURISTSWHETHER TO RESUME OR FACETIMEOR SKYPE OR ANY IS VIDEOCONFERENCING APPS YOU CANBASICALLY ASKED QUESTIONS LIKETO YOUR LEASING AGENT YOURPROPERTY MANAGER WHO EVER ISTAKING YOU ON THAT TOUR ANDREALLY GET THE SAME EXPERIENCETHAT SHE WOULD IS IF YOU ARETOURING IN PERSON, I MEANYOU'RE LOOKING AT ON YOURPHONE YOUR COMPUTER BUT THEYCAN SPIN AROUND FOR YOU THEYCAN'T DO ANY WE'RE CAMERATRICKS OR ANYTHING LIKE YOUSAID TO MAKE ROOM LOOK IT'SIT'S ACTUALLY WORKING OUT ALOT OF PEOPLE ARE TAKINGADVANTAGE OF.THAT'S GOOD NEWS.

WELL,USUALLY LOOKING FOR A PLACE TORENT IS ALL ABOUT LOCATIONLOCATION LOCATION IS THAT THECASE STILL DURING THEPANDEMIC.YOU KNOW LOCATION ISIMPORTANT BUT SINCE A LOT OFPEOPLE ARE ABLE TO WORK FROMHOME, IT'S NOT AS IMPORTANT ASIT ONCE WAS FOR INSTANCE, IFYOU'RE LOOKING TO MOVE TOATTACK HOPE YOU MIGHT NOT NEEDTO LIVE AS CLOSE TO BACKCORPORATE HEADQUARTERS AS YOUMIGHT WANT TO DEPENDING ONWHAT DIRECTION YOU LOOK ONETHING TO KEEP IN MIND NOW ISWHAT WE ARE ALL WORKING REMOTECHANCES ARE A LOT OF US AREGOING TO BE GOING BACK AT SOMEPOINT SO YOU DO WANT TO KEEPTHAT LOCATION IN MIND.

TRAFFICMIGHT NOT SEEM TERRIBLE RIGHTNOW IN FROM YOUR UNITS, BUTYOU KNOW 3 MONTHS FROM NOW 6MONTHS FROM NOW WHENEVER IT ISTHAT WE'RE ALL GOING BACK TOWORK AND TRAFFIC IS BACK TONORMAL YOU MIGHT WANT TO YOUKNOW CONSIDER WHAT YOU COULDBE DEALING.

WHEN YOU'RELOOKING THAT IS AN IMPORTANTCONSIDERATION.AND HOW IS THE PANDEMICAFFECTING RENT PRICES, ANYDIFFERENCE.YOU KNOW RIGHT NOWGENERALLY THIS TIME OF YEAR WESEE PRICES START TO GO UP THISSUMMER IS USUALLY HOT MARKETFOR RENTERS A LOT OF PEOPLEARE MOVING INTO BETWEEN SCHOOLYEARS SUMMERS, A POPULAR TIMEWE ARE ON TREND SEE PRICESSTILL GOING UP MAYBE NOT ASHIGH AS THEY LOOK AT CERTAINMARKETS IT REALLY IS KIND OFWORK IT WORK IT THING FORINSTANCE, IF YOU LOOK AT SANFRANCISCO WHICH THE TORIES LEEONE OF THE MOST EXPENSIVEPLACES TO LIVE FOR US ISACTUALLY KIND STEADY OR EVENDROP SIGNIFICANTLY FROM THISTIME LAST YEAR.

HOW THIS ISGOING TO CHANGE OVER THE NEXTFEW MONTHS WITH CORONAVIRUSTHE PANDEMIC THAT REMAINS TOBE SEEN.

WE ARE SEEING A LOTOF HIGHER PRICED UNITS COMINGDOWN IN PRICE BECAUSE PEOPLEARE LOOKING FOR A MOREPORTABLE OPTION.

BUT THE LOWERPRICED UNITS OR MORECOMPETITIVE RIGHT NOW SOTHEY'RE REALLY NOT GOING ANYLOWER SOME MIGHT EVEN GO UPBECAUSE OF SUPPLY AND DEMAND.AND JUST LASTLY WILL THEREBE ANY LONG-LASTING EFFECT ONTHE RENTAL HOUSING TRENDSBECAUSE OF THE SITUATION WE'REIN WITH CORONAVIRUS DO YOUTHINK.YOU KNOW YOUR GUESS IS ASGOOD AS MINE I'M GOING TOGUESS AND SAY YES JUST BECAUSEI DON'T THINK WE UNDERSTANDQUITE YET.

THE OVERALL IMPACTOF THE PANDEMIC IS GOING TOHAVE ON OUR LIVES.

I THINK ALOT OF PEOPLE WHO HAVE BEENOUT OF WORK ARE GOING TOSTRUGGLE TO YOU KNOW GET BACKON THEIR FEET IF THEY'REWAITING ON US ANOTHER STIMULUSCHECK OF THE GETTING GRANTS ORSOME SORT OF ASSISTANCE FORHOUSING.

THAT IS GOING TOIMPACT THEM IF THEY DIPPEDINTO THEIR SAVINGS ARE REALLYHAD TO USE THAT VACATION THATRAINY DAY FUNDS TO PAY FORRENTALS, YOU KNOW ANYTHINGFROM RENT TO AMENITIES LIKETHAT THESE PEOPLE ARE GOING TOIMPACT THEIR IMPACT PROPERTYIS GOING TO BE IMPACTED THEOVERALL TREND WE'LL HAVE SOMESORT OF PACT WE'RE JUST KINDOF WAITING TO SEE WHAT THAT'SGOING TO LOOK LIKE I WOULD SAYIT'S SAFE TO BET THAT THINGSWILL LOOK A LITTLE DIFFERENTLYNEXT YEAR THAT WE ARE.ALL RIGHTY WE KNOW YOU'VEGOT YOUR EYE ON IT WE'LL CHECKBACK IN WITH YOU THANK YOU SOMUCH.THANK YOU KNOW WHAT.