How Things Are Improving After COVID-19 Begins to Lessen Around the U.S.

Abstract

What does the end of the pandemic mean for you? Renting on Your Side Sheltering in place has been over for quite some time, but now we're in the swing of it. A majority of renters who sheltered in place during the pandemic are reporting to have felt a kind of "Buyer's remorse" as they were forced to stay inside for the past two years. In Atlanta, Georgia, rent has increased by around 22%. In Buffalo, there was a case of rent increasing by 50%. In Orlando, Florida, one man noted his rent increased by 65%. It's landlord's market. At the same time, this might risk lowering the number of renters who can afford the higher price and thus affect how many renters apply or renew their lease. If you try raising the rent to above the current market price: it's likely only renters with high paying jobs could afford the property. If you are considering raising rent prices, you have the option to only do so on properties that are currently unoccupied. Oregon's moratorium is holding out until the end of June 2022 and the County of Los Angeles's moratorium could continue for certain, low-income renters until June 30, 2023! Now that the pandemic is near its hopeful close, many can breathe a little bit easier.