As local property management companies initiate lease kick-offs for the 2006-07 academic year this week, students looking for off-Grounds housing can expect the usual high demand accompanied by plenty of choice, according to Off-Grounds Housing Manager Vicki Hawes.
Hawes described the market this year as fairly soft and said there are still options available for the current year.
While demand is historically high for properties on Venable Lane and Wertland Street, Hawes said there is plenty of choice for students.
"Urban legend has it that you have to sign a lease in October, but you may be able to extend it to December or January for certain areas," he said.
According to Hawes, virtually all students who want off-Grounds housing are able to find it, though they may not be able to live in the most popular areas.
Changes in zoning regulations in the past few years have allowed developers to replace single-family dwellings with buildings consisting of multiple apartments, Hawes said. More apartment rooms have allowed for more availability, and Hawes said he suspects rent rates may not be increasing at the high rate they have been in prior years.
Some students, however, are frustrated by what they view as high rents for apartments.
"So far this year, the availability appears to be there with all the new buildings being built, but the prices are so high that availability seems moot," third-year Commerce student Jennifer Groome said.
Groome said she thinks apartments on the Corner are so expensive that the advantage of convenience simply is not worth the high cost of living, while Jefferson Park Avenue boasts "nicer apartments with significantly lower rent."
Amanda Hester of Woodard Properties also said she thinks there are more apartments available this year and that demand this year is about the same as it was last year.
"People interested in properties are put on contact lists and are normally able to find what they like," Hester said, adding that the market is especially competitive on 14th Street.
Wade Apartments General Manager Wade Tremblay agreed that the overall market offers plenty of housing but noted a recent removal of certain properties.
"There's been a reduction in housing, as certain developments are scheduled to be demolished and others have already been torn down," Tremblay said, citing the scheduled demolition of Wahoo Park Apartments on 15th Street.
"There isn't a need for students to sign a lease today or tomorrow," Tremblay said. "There are plenty of apartments out there."
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