More multi-unit complex rentals means more competition - KOAM TV 7

More multi-unit complex rentals means more competition in Pittsburg


Over the last five years the city of Pittsburg has seen more multi-plex housing coming in.

More than half of Pittsburg properties are rentals and Tim Kundiger of SLB Property Management says there was a need for single bedroom housing, which most of the newer complexes accommodate.

"The general concern the last several years has been is that going to hurt our occupancy rate," says Tim Kundiger of SLB Property Management.  "Fortunately it hasn't with the college growing as it has been.  We haven't really seen any loss of our occupancy."

Kundiger manages many multi-complex housing units and rental homes.  He says properly managed rentals are what keeps the market competitive.

"I think that is what really keeps you above the rest - it's more of a what your quality is of the property that you're renting now as opposed to really what your rental price is," says Kundiger.  "If you have a decent property that you can rent, you're not going to have any problems."

Kundiger says some lesser quality homes are probably hurting, as he has seen more of those homes for sale.

"With the construction of these apartments and small apartment complexes, you're going to see more and more of these get rented and less and less of the older type homes," says Kundiger.

City of Pittsburg Public Works Director Bill Beasley says his office has had many questions about potentially building more.

Beasley says home rentals are still happening but these types are generally geared toward college students.

"Primarily they are in the south end of town around the University," says Beasley.  "I think as land becomes available I would see more of these constructed."

"My bigger concern would be the long-term - three to five years down the road when these apartment complexes require maintenance, routine maintenance," says Kundiger.  "Is that going to be taken care of by the owners or not?  We don't want to have a short term gain by bettering the community then have a long term problem."

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