“We don’t attempt to be the owner of all issues to all folks,” Jogia stated in a current interview with Wealth Skilled. “The common buyer at Avenue Residing presently earns someplace between $53,000 and $56,000 a 12 months, and we set our rents to be beneath 30 p.c of their present earnings.”
Whereas some residents who misplaced their jobs resulting from lockdowns nonetheless benefited from authorities wage assist, typical Avenue Residing residents, who’re regularly important staff, have proven themselves to be resilient earners by means of tough financial instances.
This group of renters has successfully benefited from wage will increase within the present surroundings of inflation and labor shortages.
Regardless that Avenue Residing needed to improve the hire to maintain up with inflation, it did so in a accountable method by maintaining costs inside its clients’ vary of affordability.
The corporate has entered strategic partnerships that assist preserve prices low by means of environment friendly supply-chain administration and provide flexibility by means of choices like Zenbase, a monetary well being answer that customizes hire cost schedules for these in want of such a service, to assist preserve prices underneath management whereas nonetheless committing to best-in-class service.