https://www.bloomberg.com/news/articles/2021-07-06/soaring-u...""Soaring U.S. Rents Are the Sticky Inflation With Staying Power"""Summer lease renewals will lock many into bigger monthly bills Renter pain contrasts with wealth gains, refi boom for owners"I'm hardly some mega-land owner but anecdotally - - the units I own in Northern Virginia are commanding noticeably higher rent. The latest one to have a vacancy - we had 38 applications. Certainly some of those are just not credible but still, 20 of them were rather solid.
Kind of depends. I stopped raising rents in January 2020 and will restart in January 2022. Increases will be a little more than my usual annual increase and still less than if I hadn't stopped raising rents for two years.
Can't find the article, but read a few days ago where some landlords are now asking for multi month rents in advance. An unintended consequence of the rent moratorium.JLC
some landlords are now asking for multi month rents in advance. An unintended consequence of the rent moratorium.Getting multiple months of payments in advance creates it's own unintended consequences - it's much more difficult to evict for something like property damage, having a pet or breaking other rules in the lease when the tenant has paid several months of rent in advance.AJ
It's worrisome for sure. Thus far I've been fortunate - 100% of rents have been on time. Mind you I'm hardly Jeff Bezos, currently I'm just with 4 homes.I think it's possible, as a new generation of leaders take over that more eviction moratoriums, etc come up and if that happens, I think many small landlords will sell their properties and invest somewhere else.And renters can then have solely big corporations to deal with - corporations whose shareholders seem to expect a larger return on investment than I'm currently earning off my rentals.
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