Saturday, October 09, 2010


UPDATE (10/26/10):  Since I wrote this post they've lowered rents to $1,500.  That is well below what I was charging and they have not filled their vacancies, which are more numerous than when I was managing the place.  It is killing me.  I want to call up the new manager and offer to help her but I don't think she'd appreciate it.


When I was fired from my last position as an apartment manager I had one vacancy and rents were set at $1,600.  Given market conditions, I thought $1,500 to $1,550  was more realistic but I didn't have power to set the rents.  Anyway, as soon as I was gone rents were raised to $1,700, and new appliances and carpet were put in the unit.   It has been a few weeks since my departure and now they have three empty units. Last week they lowered their rent to $1,650.  Now they've lowered the rents down to $1,600.

I'm sure my former boss thought I was not doing a good job leasing the apartment in a timely manner.  And, honestly, even though the rent was too high, after it had been vacant a couple of weeks, I was beginning to think maybe it was my fault.  But that doesn't seem to have been the case.  Now, even though they've put new appliances and carpets in the vacant units they haven't been able to rent them.  I am not experiencing any happiness on account of them losing money.  (I hate to see capital lying fallow.) And I feel sorry for the new manager.  I'm sure she thought she was stepping into an easy job and is surprised to find three vacancies on her hands and the boss breathing down her neck. (He is a yeller.). However, I am feeling some relief that my firing seems to have been unwarranted.

In other news, I just talked to my new boss. (You might have heard of him.  His name is Jeff and used to blog with me about 6 ot 7 years ago.)  He is looking forward to me starting next Tuesday.

No comments: