New Huge Development New My Condo Rental in Dallas

[Ryan H]

I was listening to a BP podcast w/ Serge and one of the topics was about not trying to compete with a huge apartment complex.  Well, when I bought 7 years ago, the Bishop Arts District in Dallas was mainly 2 stories max. with lots of SFRs, duplexes, and a few small condos.  There are a few new Class A 5-story apartment buildings adding hundreds of new units to the area with lots of opposition from the existing community. They have 24-fitness rooms, pool, community lounges, club houses, etc... my Class B condo ... does not.  The rents are also almost twice what I rent my 2BR/2BA condo for.

Question: Would you be concerned about increased rental supply or be excited for the growth of the area and possibly raise the rent to get closer to the new market rate?

Thank you in advance for your opinion.