C.O. rental crunch: The squeeze is on
The rental market on the High Desert is very tight, with an estimate of only 0.5 percent in vacancies — great for property owners and managers, not so much for those scrambling to find a place to live.
“This is the best rental market I’ve ever seen,” Kevin Restine, manager at Plus Property Management LLC, said Friday.
The best for owners and landlords, making it the worst for tenants.
Many of you are encountering the troubles. A story posting Thursday on KTVZ’s Facebook page quickly drew over 100 comments on the tight rental market situation.
“We were given six weeks notice to move as our landlord is selling our house,” Heather Anderson wrote. “We have been unable to find a house we can afford, so we are currently moving in with my parents. It’s sad that the town I was born in is basically forcing us out.”
“I have a good paying job but affording rent above $1600 on a single income isn’t doable,” said Jenny Kuehne. “I totally feel like my income bracket is being forced out.”
Skyrocketing rents are a big issue for Central Oregonians.
“It is hard. I mean, renting is like so expensive,” said Bend resident Jose Anguiano.
“Our rent went up from $675 to $850 in a year. It blew my mind,” said Amanda Taylor.
Experts say the main reason for the tight rental market is the economic recovery after the recession, as more and more people move to (or back to) the area.
“This is home for an awful lot of people,” said Scott Cooper, executive director at NeighborImpact. “They are currently in other places. and they’re looking for ways to come back. So we’re going to have to get through this bump of adjustment.”
It’s a bump that is turning into a nightmare for Central Oregonians looking for a place to rent.
The best advice: look early and look often.
“They’d better have another place to go to before they put in their notice,” said Kenny LaPoint, housing and resident services director at Housing Works. “We’ve seen folks who put in their notice, and then the landlord will rent the unit out and they won’t be able to find another unit to move to. And that can result in a homeless situation.”
