Apartment property managers slash prices

Reported by Gavin Johnson - bio|email
Posted by Debra Worley - email

WILMINGTON, NC (WECT) - Wilmington college students are getting a lesson in fractions as apartment complexes across town are slashing prices.

Upper classmen at UNCW said their rent is cheaper this year, in some cases by $100 a month.

"You have to stay a little below your competition so that's kind of tough, because it's getting lower and lower," said Veterans Park Apartments property manager Trinity Turk.  "You want to beat those specials, but at the same time you don't want to give away the farm."

Rates aren't just being lowered for those moving in, they're also being lowered to keep tenants from moving elsewhere.

Ross Garifo has lived in Brookstone Apartments for two years, and his landlord just lowered the rent.  He said the extra money is helpful for other life necessities.

"It's an extra couple of dollars of gas," said Garifo.  "It gets you where you need to go. If you're running low on food, you can go to the dollar store and pick up food."

Some apartment property managers said rate specials for apartments can change from day to day.

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