Area apartment managers discuss rental rates

By D. Richard Roth

NIU students banking on saving a buck next year can count on one constant—apartment rental fees.

“Our rental prices will definitely stay the same as fall ‘92 for the fall ’93 school year,” said Jackie Hassebrock, assistant manager of Amber Manor Apartments.

Apartment rentals for the fall semester of 1993 have shown a marked increase over the rates during the fall semester of 1992, she said.

“This is probably due to the fact more people are out (of school) earlier,” she said.

Hassebrock also said there has been an increase in the number of students sharing apartments.

“Usually, groups try to get together, rent an apartment and pool their money to cut expenses,” she said.

Other local apartment complexes also will see their rates increase.

“While we will not stay the same as ‘92 rates, our increase will be only 2 percent, not the traditional 5 percent increase,” said Amy Sharer, manager of University Heights Apartments.

Overbuilding by DeKalb real estate owners has caused a “saturation of the market” effect, according to some local apartment managers.

“The level of rental rate is only what the market can support,” Sharer said. “Right now we have been experiencing an overflow of space.”

Sharer said University Heights Apartments had a full occupancy rate in December 1992. Recently, that rate has decreased to as low as 95 percent.

Others have echoed similar opinions.

“We have not increased prices for the fall ’93 rate mainly because of the market. We were full in ‘92 but not now today,” said Arlene Roe, manager of Campus View Apartments.

She also said group rentals have shown a dramatic increase recently mainly because of the economy.