May 2011 - ECONOMY
Source: Property Management & Managing Risk
Robert C. Kyle & Floyd M. Baird, RPA/SMA
that has a diverse business sector is in better economic condition than
an area that depends on a single major industry for its support.
The Property Manager can draw on several sources of statistical
information for help in assessing the economic health of a
neighborhood. Brokers, Appraisers and local newspapers are
fruitful sources, as is the local Chamber of Commerce, which should be
able to supply data on the number and type of business in the area, the
volume of their activity, and the general trend of growth in the past
and for the future. Rental rates currently being charged in the
neighborhood are another sound indicator of the present economic
strength of the real estate market. When space is in short
supply, rents are high.
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This web page was updated on 04/27/2011.