Apartment Renters Forced Into Bidding Wars - How Is Your Market?

[Nathan Gesner]

https://www.cbsnews.com/boston...

Some of us knew this was coming. As sales prices skyrocket and mortage rates increase, fewer people can afford to purchase a home. This increasese the competition for rentals and drives up the rates. We also knew there would be a backlash after the eviction moratorium. You can't let people go for months or years without paying rent and then expect Landlords to absorb the losses or forgive the bad behavior.

My rental market is on fire. Everything rents quickly and for top dollar. We're being more selective in who we rent to, particularly with renters in the lower-income brackets where they are most likely to take advantage of eviction moratoriums or other government interference.

How's the market in your area?

[Greg Scott]

I love this quote from the article

"Many landlords lost money due to eviction moratoriums during COVID, and now they are more strict with tenant qualifications"

Politicians fail to realize that when they enact legislation there are unintended consequences.  Rent control, another favorite, has been proven to reduce development, which constricts supply and makes housing less affordable in the long run.