Are renters crazy lately???!!!???

Discussion in 'Rentals - Long Term' started by beck, Aug 18, 2011.

  1. beck

    beck Beach Crab

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    The prices of renting a regular house have gone totally and completely CRAZY! Im not sure what has happened around here but if everyone has gotten raises.....I CERTAINLY HAVENT! LOL The economy is still down, gas is still outrageous....so why in the world does all the renters actually believe anyone can afford a regular 2 to 3 bedroom house for $1400-$2000 per month plus deposit....???? REALLY PEOPLE??????:lol:
     
  2. scooterbug44

    scooterbug44 SoWal Expert

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    $1400 for a 2-3 bedroom house sounds cheap.
     
  3. beck

    beck Beach Crab

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    Cheap??? Lmao.....i guess you are a renter...........
     
  4. Kurt Lischka

    Kurt Lischka Admin Staff Member

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    I think you mean rental owner?

    It's not about raises. There is a shortage of long-term rentals in SoWal. Owners will set rent as high as they can which is called free market. A smart owner will go a bit under the prevailing rate and get a good renter in quick instead of losing a month or two of rent. The good places at fair rent don't even hardly hit the market but get filled by a friend of a friend.
     
  5. whatiscmr

    whatiscmr Beach Lover

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    That's what I did! I'd rather have someone I know and can trust for less $ then playing renter roulette.

    p.s. Post 50! Bam!
     
  6. Bobby J

    Bobby J Beach Fanatic

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    Supply and Demand...
     
  7. Linz30A

    Linz30A Beach Comber

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    I have to agree with the original poster here. I noticed when I lived there that most of the locals there were either in the service industry or artists. I somehow managed to find a decent "deal", if you will, but had horrible neighbors and now the entire building is for sale. But, yes, I agree that the prices are crazy...especially when you consider that if you aren't in the service industry, most places in the area are only wanting to pay $10/hr. Even at full-time, 40 hrs a week, is $1600/mo... Makes no sense. Might as well go ahead and put it back on the vacation rental circuit and let it sit empty for half the year. I MIGHT pay that amount of money they are asking in that area for a home I purchased, assuming I found a decent paying job in that area (ha), but to throw that amount of $ away every month? Absolutely not. And I'm the kind of renter you'd want. Clean, quiet, etc. Just my 2 cents though. :D
     
  8. Linz30A

    Linz30A Beach Comber

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    Also... it's SoWal... it's gorgeous and all that, but it's priced like Miami and NY... places one might actually find a salaried job.
     
  9. Mango

    Mango SoWal Insider

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    I live in New York and trust me, Sowal rental rates are no where close to what rental rates are in NY.
     
  10. Here4Good

    Here4Good Beach Fanatic

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    Neither are the pay rates.
     
  11. gmarc

    gmarc Beach Fanatic

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    people are crazy to rent long term. I rent my home only during the hige seaons of spring and summer and can make as much in 10-12 weeks as i can rent it year round and i save 10 months of wear and tear on the home. i have no desire to be in sowal during the hot summer months so it works out great
     
  12. Mango

    Mango SoWal Insider

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    But, even with a comparable job, one still can not afford to be in the City. People have to move further North. Even then, people are competing with many other renters now because previous homeowners are now renters.
     
  13. scooterbug44

    scooterbug44 SoWal Expert

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    And this is why long term rentals are scarce and more expensive.

    Less hassle, more money - really can't blame owners for choosing that option.

    I also question the reasoning that says a person making $10 an hour is the sole income for a family that is renting a 2-3 bedroom house.
     
  14. Beach Runner

    Beach Runner beats on hood

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    Exactly. Plus then we get to use the house in the off-season when it's not so hot. We've gotten so spoiled by being here in the off-season that we don't even go to the beach in the summer except in the late afternoon (in the early AM we're snoozing) because it's too hot.
     
  15. slcooper1949

    slcooper1949 Beach Lover

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    I have to agree with you on the high rent..you just have to keep looking they are out there...Heck I paid 750. in Dallas for a very small one bed, and the utilities were at least 200. a month, and that is for a very very small one bedroom.. so let me tell you that isn't that bad, and you do get the beautiful Emerald Coast. Heck people here in Dallas get CEMENT to look at...good luck...I too am looking for a place in Oct...
     
  16. BlueFox181

    BlueFox181 Beach Fanatic

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    I have a 3 bedroom for $1200, but I live in the hood that is N 393. I'd move in a heartbeat if I could find a decent rate around here. I am tired of the drug dealing, shootings (someone shot out the glass front door, next door to me, at 1am), cops 2 doors down on a weekly basis, fights, etc. Sad really.

    In ATL I had a 2 bedroom apartment for under $1000. I also made about 25% more in salary. I am NOT in the service industry. It's difficult to live well here... but... I love it here... so I deal with it. I know quite a few people who trek it across the bridge from Freeport on a daily to be able to afford to live and work here. Good luck everyone!
     
  17. aas03h

    aas03h Beach Comber

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    If anyone is interested, we have 3 bedroom/2 bathroom apartments in quadplexes available for $1050/month-a comparative steal! You can check out our inventory at www.98rentals.com
     
  18. Teresa

    Teresa SoWal Guide Staff Member

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    So many previous homeowners are now renters, and it is very difficult for many to find what they need in a rental home, in a location they desire, much less at a reasonable rate. though I am sure deals are available. it is one of those situations where you have to know what becomes available and jump in and grab it quickly.
     

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