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Bidding Wars for Renters

Posted by Sami Thalji | Aug 13, 2021 | 0 Comments

In July rents rose nationally more than 7% for one bedroom apartments and more than 8% for two bedroom apartments in what has become the most competitive rental market in American history. Renters are now expected to have higher credit scores and put down more money then ever before. Strong job and income growth has helped this surge in rents but it shouldn't be lost on anyone that as we see large single family REITS (real estate investment trusts) continue to dominate the buyer's markets we rents and their profits increasing. The plan to convert Florida into a renters economy is underway and you will continue to see these hedge funds jump in the market and raise rents. This should be a major concern for Florida consumers, especially those with children that won't have the opportunity to purchase a home during their lifetime, even if they have a good job and make good money. 

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

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