Yes, we have discussed this in the past. It is an interesting situation. On one hand you have owners, trying to get as much as possible for their rentals, but on the other, salaries simply don’t command the rents they’re asking.
A lot of the condos I see on Zip have turned to rentals now on Craig’s list. The owners use the same photos! I know a lot of them must be losing a lot of money on their rental every month. There is no way $1600 for a one-bedroom in a new complex is covering someone’s mortgage, unless of course they had a big chunk to put down.
As for complex owners, I’m sure it’s a nightmare being a landlord. No wonder so many converted to condos – “let the renters take on their own problems,” is probably what a lot of owners thought!
