Greg, How are the screening changes working out?


#1

Early this year, you had mentioned cutting rates, deposits, and Credit qualiy of applicants in an effort to fill vacancies. Have you been able to retain these tennants? Are you seeing an end to your market problems that will allow you to regain your pricing?


#2

We had 5 of 13 move out within 4 months…not that good for us.

We are still at 82% occupancy even with the relaxed standards. Two move in, one moves out…

I can’t imagine hoW EMPTY we’d be if we still demanded first, last, 500 deposit and credit of 520…probably about 50%…or less.

I’m afraid we haven’t seen the bottom yet…spent yesterday in Tampa and they have worse problems there…BofA has 1400 pre foreclosures within the city limits!!! One bank one city YIKES!

Greg