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Ask Marilyn: This Week's 'Strictly Personal' Question
John Stratton of Baltimore, Maryland, writes:
Marilyn: A friend lives in a very old apartment building where about half the units are vacant. Recently a new management company took over and decided to renovate all the apartments, starting with the vacant apartments. When they finish with the vacant apartments, they will begin renovating the occupied ones. My friend thinks that the occupied apartments should be renovated first, before the unoccupied ones. What do you think?
I think management is doing the right thing for everyone concerned. With half the units vacant, the building is under great financial pressure, and that isn't good for either the tenants or the owners of the building. After renovation, the unoccupied units are more likely to be rented. Management may even be counting on that income to renovate the apartments that are occupied now.