The Palm Beach County rental market is without a doubt at a crossroad. A recent market survey of several rental communities indicates that generous concessions continue to maintain a firm grip on occupancy with no sign of retracting. My suspicion after several conversations with industry colleagues in the area is that we have fallen victim to a good ol' fashion case of "you first then I'll follow"! If I'm half right then it just might be time to call on our marketing gurus to help facilitate a consensus that will help roll back concessions uniformly resulting in less risk.
If we can't develop a unified market initiative, how long will we allow our budgets to be affected by a "psych out" induced insecurity? I was once told by a progressive mentor never be afraid to lead the market, its a notion I believe in whole heartedly, but should we also be brave enough to let the market lead us?