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Security Measures and the Apartment Market

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Abstract

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.

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  • John D. Benjamin & G. Stacy Sirmans & Emily Norman Zietz, 1997. "Security Measures and the Apartment Market," Journal of Real Estate Research, American Real Estate Society, vol. 14(3), pages 347-358.
    • Handle: RePEc:jre:issued:v:14:n:3:1997:p:347-358
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    Cited by:

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    2. Pnina O Plaut, 2011. "The Characteristics and Tradeoffs of Households Choosing to Live in Gated Communities," Environment and Planning B, , vol. 38(5), pages 757-775, October.

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    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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