Security Measures and the Apartment Market
This paper examines the effect of security measures on apartment rent and occupancy. Three variables representing various security measures are estimated in a simultaneous model of rent and occupancy. Providing 24 hour security has a significant positive effect on both rent and occupancy. Having a manager living on site or a manned front desk/restricted entry does not significantly affect rent. All three variables, however, have a significant positive effect on occupancy. It would appear that, although landlords cannot extract higher rents for some security measures, all three measures included in this study act to increase occupancy.
Volume (Year): 14 (1997)
Issue (Month): 3 ()
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