Word: kossan
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...university policy that rents for affiliated housing are based on rents in the [local] market," said HRE Vice President Nancy Kossan...
...past, Harvard rents have not quite kept up with the general market. While Cambridge-area rents climbed an average of 12 percent last year, rent on university-owned residences rose only 5 percent on average, Kossan said...
...much as we're attempting to be at market rates, we've tended to lag," Kossan said. This lag occurred because HRE underestimated how much market rents would rise...
...Kossan said that the new rent increases will attempt to make up for the "lag" in past years' rents. They will also incorporate an anticipated 8 percent increase in the market rate for the 1986-87 lease year...
...percent cap on rate increases for continuing renters is the same as that imposed last year by HRE, Kossan said...