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Why Some Condo Floors Are Never Rented—Even in Booming Cities

June 24, 2025 By Teri Monroe Leave a Comment

Have you ever wondered why some condo floors are never rented? You’re not imagining things! Some condo floors remain unrented, even in high-demand, booming cities. This is usually for a mix of economic, regulatory, and psychological reasons. Here’s a breakdown of the key factors.

1. Developer-Owned Inventory

Have you heard of shadow holding? In this speculative holding, developers or investors may hold onto certain units, especially on premium floors, waiting for prices to rise. This shadow inventory is not listed for sale or rent. So, units could remain vacant for a while, until the market is right. Especially in volatile markets, holding high-value units can be a strategic move to avoid flooding the market and lowering prices.

2. Luxury Floors

Sometimes luxury floors are just too expensive. This can price out many tenants. Top floors often command luxury premiums because of views and amenities. Consequently, they may be too expensive to rent. Owners may prefer to sell them as luxury residences rather than rent at a discount. Plus, wealthy owners may not need rental income and are more interested in long-term capital gains.

3. Foreign Ownership & Vacant Units

Sometimes, foreign owners invest in a park. This means that foreign investors sometimes buy condos as a store of wealth and leave them empty. It’s especially common in global cities like Vancouver, London, and New York. It’s also important to consider that some units are used only a few weeks per year as second homes or vacation properties. That doesn’t mean that they are completely vacant.

4. HOA or Condo Board Restrictions

Some owners aren’t able to rent out their units due to homeowner’s associations or condo board restrictions. Many condo associations limit how many units can be rented at a time to maintain a certain owner-to-renter ratio, preserve property values, or comply with mortgage insurance requirements. Even if owners want to rent, they may be placed on a waiting list due to these caps.

5. Market Perception and Stigma

Some floors may be seen as unlucky. In some cultures, like East Asian, certain floors are avoided due to superstitions, like the 4th floor or 13th floor. Because of this stigma, tenants may be hesitant to rent on these floors. Some buildings even skip the 13th floor for this reason! Some other reasons that some units don’t get rented are for practical or aesthetic reasons. Noisy or unattractive units are much harder to rent. There also may be some units near HVAC systems, have low-light or are awkwardly shaped. All of these factors can make a unit less appealing and make it sit empty longer.

6. Construction Defects or Legal Issues

There may be other factors that are leading to vacancies. Some buildings are involved in legal disputes that deter potential renters or buyers. Plus, some buildings may not be completely finished. Top floors may remain incomplete due to budget overruns or changes in project scope.

7. Tax and Accounting Strategies

Sometimes, depreciation and write-offs play a role in units not being rented. Wealthy owners might leave units unrented for tax reasons, like using depreciation or capital loss strategies in complex real estate portfolios. By not renting, they can also avoid triggering certain tax events or reclassification of the property. These strategies are often used to optimize long-term financial positioning rather than maximize short-term rental income.

Understanding Why Some Condo Units Are Never Rented

While it might seem puzzling to see empty condo units in bustling cities, there are often strategic, financial, or cultural reasons behind the vacancies. From investor tactics and HOA restrictions to superstition and tax planning, these unrented spaces reflect a complex mix of motivations beyond simple supply and demand. So next time you pass by a seemingly vacant building, remember, there’s likely more going on behind those dark windows than meets the eye.

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6 Wild Facts About Life in Alaska’s Darkest Towns (Where the Sun Disappears for 65 Days)

June 19, 2025 By Teri Monroe Leave a Comment

Imagine living in a place where the sun disappears for over two months. In some of Alaska’s northernmost towns, this isn’t just a dramatic idea, it’s reality. During the long polar night, residents face extreme cold, total darkness, and unique challenges that most of us can’t imagine. But life doesn’t stop, it adapts. Here are six wild facts about Alaska’s darkest towns.

1. 65 Days of Darkness Isn’t Total Blackout

Even though the sun doesn’t rise above the horizon for over two months, it’s not pitch black all the time. For a few hours each day, there’s a period of civil twilight. Civil twilight is the period after sunset and before sunrise when the sun is below the horizon, but its geometric center is no more than 6 degrees below the horizon, according to the National Weather Service. During this dim light, it’s just bright enough to see without artificial light. This is when most Alaskans do their daily activities.

2. Mental Health Is Seriously Impacted

Extended darkness can take a toll. Residents often experience Seasonal Affective Disorder (SAD), a form of depression caused by a lack of sunlight. This happens because your circadian rhythm changes, and serotonin and melatonin levels drop. Many people use light therapy lamps and vitamin D supplements to cope.

3. Wildlife Encounters Get Riskier

Polar bears and other animals may venture closer to town during the long night. With reduced visibility, polar bear patrols are often deployed to help keep residents safe from surprise encounters. Polar bears normally only attack if they are hungry or feel threatened. However, climate change is impacting their habitats and food sources, making polar bears more vulnerable.

4. Daily Life Keeps Moving

Despite the darkness, schools stay open, people go to work, and life goes on. Kids even go outside for recess, in full winter gear, in temperatures below -20°F. Sometimes children go outside under floodlights if needed. While this lifestyle isn’t for everyone, Alaskans are used to it.

5. Traditional Foods Become Lifelines

With limited access to fresh produce in winter, many residents rely on subsistence hunting and traditional foods like seal, whale, and caribou. Staples like fried bread have also become essential pantry-friendly dishes. These foods provide vital nutrients and connect people to their heritage. These traditional meals aren’t just about survival; they’re a way of life passed down through generations. In many Arctic communities, sharing and preparing these foods strengthens family bonds and cultural identity.

6. They Celebrate the Darkness and Its Return

Communities hold festivals and events during the polar night. But one of the biggest celebrations happens at sunrise, when the sun finally returns after its 65-day absence. Locals often gather outdoors to cheer the sun’s first rays. The return of sunlight is more than just a natural event—it’s a deeply emotional and spiritual moment. For many, it symbolizes hope, renewal, and the resilience of life in the Arctic.

Celebrating Darkness in Alaska’s Darkest Towns

Life in Alaska’s darkest towns is unlike anywhere else in the world. From surviving months without sunlight to embracing centuries-old traditions, residents show remarkable strength, adaptability, and community spirit. These wild facts offer a glimpse into how people not only endure the darkness—but find ways to celebrate it.

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8 Lies About Your Credit Report You Need to Stop Believing

June 17, 2025 By Teri Monroe Leave a Comment

credit score myths — Image Source: 123rf.com

For many, credit reports and credit scores are a mystery. There are so many misconceptions surrounding credit that we often believe things that are far from the truth. It’s important to debunk these lies so that you can improve your financial outlook and not make costly mistakes. Here are 8 common lies about your credit report that many people believe, and why you should stop falling for them. With the right knowledge, you can get your credit report on the right track.

1. “Checking your own credit hurts your score.”

Pulling your own credit report is considered a soft inquiry, which does not affect your credit score. In fact, it’s a smart habit to check your credit regularly. If there are any errors, you’ll want to know immediately. Plus, regularly monitoring your report can help you make adjustments to things like your credit card spending habits, if it is bringing down your score. Be aware that hard inquiries, like applying for a new credit card, will show on your credit report and affect your score.

2. “You only have one credit report.”

There are three major credit bureaus (Equifax, Experian, and TransUnion), and each may have slightly different information. You have three credit reports, not just one. While your score probably won’t fluctuate significantly among the credit bureaus, it’s important to monitor all three. You can choose a credit monitoring service that pulls all your reports.

3. “Your report and credit score are the same thing.”

Your credit report is a record of your credit history. Your credit score is a numerical value based on that report. They’re closely related, but not the same. Both are used when you apply for credit cards or loans. Your credit score and report demonstrate your creditworthiness to lenders.

4. “Paying off a debt removes it from your report.”

Even after paying off a debt, it can remain on your report for up to 7 years if it was negative (like a late payment or collection). Positive accounts may remain longer. While it may seem hard to recover from a derogatory mark on your credit report, it will fall off in time. In the meantime, you can rebuild your credit by making on-time payments and keeping your credit utilization low. Over time, positive activity will help outweigh past negatives in your credit profile.

5. “Closing a credit card helps your credit.”

Closing a card can hurt your score by reducing your available credit. This can raise your credit utilization ratio. It can also potentially shorten your credit history. The number of closed accounts will appear on your credit report. Lenders often prefer to see long-standing accounts that demonstrate responsible credit use over time. Unless there’s an annual fee or another strong reason, keeping the account open is usually better for your score.

6. “You can’t fix credit report errors.”

You can and should dispute errors. Credit bureaus are legally required to investigate disputes and correct any inaccuracies under the Fair Credit Reporting Act (FCRA). If you suspect a discrepancy, you can file a report with that credit bureau. You can also submit supporting documentation to strengthen your case. Correcting these mistakes can significantly boost your credit score and improve your financial opportunities.

7. “You must carry a balance to build credit.”

You do not need to carry a balance or pay interest to build your credit. Simply using your credit card and paying it off on time is enough to build good credit. In fact, you should pay off your cards every billing cycle to avoid paying interest and lower your credit utilization and revolving balances. This ultimately can improve your score. Carrying a balance only leads to unnecessary interest charges without offering any credit-building advantage.

8. “Your income is listed on your credit report.”

Your income is not part of your credit report. Lenders might ask for income during applications, but it’s not something the credit bureaus track. If you have a higher income, you may get a bigger credit limit or be approved for a larger loan. But nowhere on your report does your income show.

Debunking Credit Report Myths

Believing myths about your credit can cost you money, opportunities, and peace of mind. Understanding the truth empowers you to take control of your financial health. By debunking these common lies, you can make smarter credit decisions, protect your score, and build a stronger financial future. Don’t let misinformation hold you back — stay informed, check your reports regularly, and take action when needed. Your credit is one of your most powerful financial tools — treat it that way.

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