14d • General discussion
Why occupancy can fool people
A property can show decent occupancy and still be weaker than it looks.
If collections are soft, utilities are heavy, taxes are rising, and CapEx is real, the ownership picture changes fast.
That is why I do not like stopping at rent roll headlines.
The better question is:what does the deal look like once the tax layer and the operating layer are both included?
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Why occupancy can fool people
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