Rent Prices Stable In Jefferson City
JEFFERSON CITY - Jefferson City landlords say they haven't seen much of a change in occupancy or price of rent over the last several years. They cite the city's steady employment, low interest rates, and improving economy for the market's consistency.
Jana Millard, the leasing manager at deVille Southwest Properties, said that credit history is the first thing they look at in an applicant. She says she has seen an increase of foreclosures and repossession, but not significant enough to affect occupancy standards. Millard says she has not had to increase rates in the past two years.
Margaret Thoenen, a salesperson at Action Realty, says that sewer and insurance rates are the reason she has had to increase rentals rates by 2% in her subdivision.
Vacancy hasn't been much of a problem for Jefferson City landlords. Both Thoenen and Millard claim to have less than 3% vacancy rate. Thoenen says she only has 1 vacant property in her subdivision of more than 100 units. She says that she hopes to expand the amount of her rental properties in the next few years.