Question: Pondview Apartments is a 900 unit apartment complex When the
Pondview Apartments is a 900- unit apartment complex. When the apartments are 90% occupied, monthly operating costs total $ 224,650. When occupancy dips to 80%, monthly operating costs fall to $ 218,800. The owner of the apartment complex is worried because many of the apartment residents work at a nearby manufacturing plant that has just announced that it will close in three months. The apartment owner fears that occupancy of her apartments will drop to 70% if residents lose their jobs and move away. Assuming the same relevant range, what can the owner expect her operating costs to be if occupancy falls to 70%?
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