This rental market is too far spinning out of control!! This is becoming a huge blith on the lives of all that have to be here. Some drastic measures are going to need to happen soon by our city officials before the rental rises are going to keep charging up like a freight train. I personally right now, without an act of god, see it reversing any time soon let alone level off.
Bottom line, we need to get more rentals infused into our city
…. Where oh where are we going to find them? Lets see, we can build more cheap ugly high rises, we can force out our minority and low income residents,
OR… We can start cracking down on ALL of the illegal leased rentals being rented out at insane prices for a weekend as vacation housing on sites like AirBNB. Not only are all of these rentals that are being included in the numbers for the city being paid for in 2-4 nights for the month rent and sitting empty most of the time, they are not being charged any of the hospitality taxes that a regular-on the grid- bnb or hotel is. It is a massive loophole that is definitely an invisible factor to the lack of available rentals. The landlords should crack down about this stuff too. If a landlord finds a tenant sub leasing their apt. out, and it is not written into the lease, that is just cause for eviction i believe. I am sure the landlord would rather be making the money off of the people needing a place than a tenant!
And.. i think we need some city sponsored and funded low income housing built. Fast. But not cheaply! That is just my observation of a couple places we could make a few adjustments to try and help ease the strain a little.
The city made a LOT of hidden deals with a LOT of companies within the last year to have them bring their businesses here. They can not do that and bring in all that new revenue without providing necessary basics. Sometimes it takes money to make money and they need to take that cash out of their pockets and build some more housing for all of these people that they just enticed to come live here. It seems very corrupt down in city hall these days, because this is really the city’s problem and the city is the only single source that can fix it.