Landlords can really be like magicians, they have a whole host of tricks up their sleeves that tenants can overlook. One of the more recent trends we've seen around colleges is landlords trying to maximize their revenue per square foot of apartment space. How do they do this? With some real-estate magic...
For their first trick, landlord will convert rooms deemed "unnecessary" into extra bedrooms. These rooms can be anything from dining rooms and living rooms to walk-in closets and enclosed porches, almost anything is fair game. This allows a landlord to turn a 2 bedroom apartment into a 4 bedroom apartment and nearly double their revenue per apartment, like magic.
On the tenant side, converting too many rooms into bedrooms leads to overcrowded apartments that lack storage space and common areas to socialize and relax.
For their next trick, the mystery of the shrinking room. Even within the newest off-campus housing developments, the size of bedrooms is not increasing. Actually, it's shrinking!
The average size of new bedrooms in non-high-rise properties is down 8.5% according to realpages.com, and the trend seems to be continuing for all types of student properties.
Major land-owners want to build smaller bedrooms so that they can fit more tenants in every apartment and increase rent. It's no wonder your room seems to shrink with every move.
If you'd rather have your bedroom grow with you, then no worries, Toku Got You.
Join the community today! https://www.tokustudentrealty.com/for-students