CHICAGO - Despite an increase in business already in 2009 of 30% over 2008, MedBed is doing its part to keep rents affordable for its medical student tenants. MedBed hasn't increased rents for 3 years and hopes to keep it that way.
MedBed rents vary by location, and range from $780/mo to $990/mo for dorm-style apartments and go all of the way to $1800/mo for private studio or 1-bedroom apartments.
The fact that MedBed does offer leases for as little as 1-month, makes these prices very attractive to the main MedBed market: medical students. Most dormitories are twice the price of MedBed and hotels go up from there. "Most of our clients need a place for 4-8 weeks to do their rotations. It's very hard housing to find, and we try our hardest to keep it affordable", says Ryan McIntyre, founder.
Although rent increases may someday be inevitable, with the current recession in play, there is no telling when the next increase may actually occur.