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@gooch, MS

My study looked at how age effects rental rates. Obviously there are a lot of other competing factors, including proximity to Metro (which is why all of the buildings sampled are within one mile of the Silver Spring Metro station) and size (which is why I calculated the rent per square foot).

However, age still has a lot to do with it - newer buildings tend to have more amenities that cost money to provide, but developers are also paying for both construction AND financing. Older buildings are more likely to be paid off, allowing you to charge lower rents based on that alone. If a new building was built where Hillbrook Towers is located, it would still command higher rents than most of the other buildings I studied, even though it's farther from Metro.

by dan reed! on Jan 28, 2013 6:10 pm • linkreport

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