Biggs Property Management specializes in providing Premium, Market Rate and Affordable apartment living throughout Indiana and Michigan. So what exactly is the difference between the three?
To answer that, we must first answer how they are not different.
For the most part, Biggs Property Management does not differentiate between managing Premium, Market Rate and Affordable properties. No matter what type of property we are managing excellent customer service is always provided. We pride ourselves in keeping the customer at the top of our priority list. Secondly, our emergency maintenance technicians work around the clock for all of our housing communities. Our 24 hour emergency maintenance hotline number is provided to all of Biggs’ residents.
Basically, with Premium, Market Rate and Affordable housing you get the same service, but at different costs and with different, yet appropriate, amenities that serve each household.
BPM’s upscale, Premium properties can accommodate families or individuals, fit any kind of lifestyle with a superior amount of comfort. There is a flat fee for these apartment homes. Market Rate communities simply have less amenities than the Premium properties.
Affordable Housing communities are apartments which are available at a reduced cost for households with incomes at or below specific levels. Affordable housing provides a stepping stone for young families, a stable place to get back on one’s feet and a cost-effective living situation for persons with special needs.
The U.S. Department of Housing and Urban Development (HUD) defines "Affordable" as housing that costs no more than 30 percent of a household's monthly income. That means rent and utilities in an apartment or the monthly rental payment and housing expenses for a homeowner should be less than 30 percent of a household's monthly income to be considered Affordable.