Sarasota Rents Are Skyrocketing Again (Miami, North Port: city hall, crimes, public school)

[wondermint2]

Hmm. IMO this method of improving the rental situations sounds well intentioned - but I can see it having problems going over big in Sarasota. Many owners of expensive homes won't want units "with less restrictive tenant screenings" in close proximity to their properties because it would tend to lower property values. Many might say (to not seem heartless) it sounds like a good idea - but just don't put them in our neck of the woods. IMO there might be some of these available in places like Newtown.


https://news.google.com/articles/CBM...S&ceid=US%3Aen

Nashville housing model might help thousands in Sarasota-Manatee, experts hope

Using federal pandemic relief dollars, rental assistance funds, philanthropic donations as well as additional rental vouchers for residents, Nashville’s housing collective presents a portfolio of incentives to property owners to mitigate or ease their risk.

In exchange, landlords relax screening criteria and other barriers for renters experiencing homelessness – barriers that can typically include low income, previous evictions, poor credit or criminal history, restricting their housing options in an already tight market, Goddard said.

The incentives for landlords are as follows:

- $1,000 on top of the deposit in the case of damages to the property, and up to two months rent if the renter breaks the lease

- $2,000 sign-up bonus for the first five units leased through the collective

- A large pool of potential applicants

- An online database to share information with more than two dozen nonprofits

- Access to community mediation with the tenant, if needed

- And importantly – wraparound case management from the nonprofits to help the renters with housing stability on everything from employment support to health services

So far, since the fall, between 200 and 300 households have been placed in permanent housing through the housing collective, Goddard told the Sarasota Herald-Tribune. All of the referrals through the collective require a minimum of a 12-month lease. Properties are also screened and inspected to help safeguard tenants' rights.

Most renters through the collective – about 70% – are on some sort of rental assistance vouchers while the remaining residents receive help from rapid rehousing program funds that taper over time and get replaced by vouchers or the tenants' employment income, she said.

[MOforthewin]

Good one here. Moms friends daughter was renting a home. Her husband got transferred to Texas for work and the new landlords said she can leave no problem and break lease early. So they moved snd as soon as they moved they put new flooring in and remodeling and found another renter.

Now the landlord is suing them for 20 grand for beeaking lease even though they said they can terminate early .

Very shady.

[Trying941]

Originally Posted by MOforthewin

Good one here. Moms friends daughter was renting a home. Her husband got transferred to Texas for work and the new landlords said she can leave no problem and break lease early. So they moved snd as soon as they moved they put new flooring in and remodeling and found another renter.

Now the landlord is suing them for 20 grand for beeaking lease even though they said they can terminate early .

Very shady.

Get a good lawyer and discuss counter suing for the extra rent the landlord is getting over their rent, plus increased value of improved apartment over unapproved (less renovation costs) under theories of constructive trust, unjust enrichment and fraud. Explore if they had the opportunity to sublease and what they could have made. In real estate, always ask yourself the question "What would Donald do?" Without question, the answer is countersue for more. Make the landlord face a downside, ask for a jury and if the claims are not dismissed watch the landlord try to walk away from the law suit. If they can get in front of a jury, the landlord is toast. Also, get the case into the papers.

[MOforthewin]

Originally Posted by Trying941

Get a good lawyer and discuss counter suing for the extra rent the landlord is getting over their rent, plus increased value of improved apartment over unapproved (less renovation costs) under theories of constructive trust, unjust enrichment and fraud. Explore if they had the opportunity to sublease and what they could have made. In real estate, always ask yourself the question "What would Donald do?" Without question, the answer is countersue for more. Make the landlord face a downside, ask for a jury and if the claims are not dismissed watch the landlord try to walk away from the law suit. If they can get in front of a jury, the landlord is toast. Also, get the case into the papers.

They are. They called Morgan and Morgan and they also said the new owners don't have sh*t on them.

it's my understanding the new owners don't want to rent the place out but wanted it for themselves anyway.

So they ripped out all the cabinets along with the carpeting and putting their own in literally the day they moved out the workers were in there.

Btw there was nothing wrong with the flooring or cabinets. The house is spotless. It's easy to see what the new owner is doing. Trying to find a way to screw them over in order to get their remodel cost covered. I think the house is only 8 or so years old at the most.

And they won't give them their 5k security deposit back as well even though they were told they would get it as long as it wasn't damaged.

This isn't a runned down, old house. It sold for 750k, two story. They were paying 3400 a month rent.

She makes about 70k a year, Im sure her husband is making 150 or 200k. They could easily afford to pay a lawyer and counter sue. Even though it's not a huge amount of money it's just the point here.

Then on the flip side I have a friend who's renting in Cape Coral. His lease is due and the landlord is only raising rent 100 more a month. Said because he's a good tenant and would like to keep him.

So many con artist in FL. I really wouldn't trust renting.

[newtovenice]

Originally Posted by macyny

I know a 73 yrs old widowed woman who rents a apartment on Tuttle. She lives on Social Security and works part time at Publix as a bagger. She has been renting that apartment for 12 yrs. Landlord hit her with a rent increase of $200.00. She can't afford that, she'd have no money for food or gas for her old car.
She begged him not to do this to her as she had no where to go. She offered to clean apartments which were vacant to keep her rent the same.

He said, he'd think about it.

I feel so sorry for her. She can barely get though the day bagging for Publix because her legs are so swollen.

This is just one person I know personally. I can't imagine how these rent increases affect elderly and disabled people.

I'm waiting for the max exodus of the low wage earners. Looking forward to spending half an hour in a checkout line at Publix. Coming to store near you.

So sorry she is going through this. I hope they can come to an agreement.

[newtovenice]

I heard that Lee County is trying to pass a law that landlords need to give tenants 60-days notice before rent is going to be raised.

Good idea. At least give people some time to get a plan together.

[Sunshine Rules]

Unfortunately, rental rates in Sarasota and Manatee counties are now at historically high levels. Statewide, Florida has experienced a nearly 30% increase in rental rates over the past 12 months (compared to a 17.6% increase nationally).

In Sarasota county, the rental rate increase year-over-year jumped by 47%, with a median rental rate of $2249 per month as of February 2022 (compared to $1529/mo in Feb 2021).

Rental rates in Manatee county are slightly lower at $1909 per month (compared to $1356/mo in Feb 2021), but rates are catching up to Sarasota county.

Migration of people from other states to FL is continuing to fuel the rental rate hikes here. So is the growing trend of landlords switching from annual to seasonal & vacation rentals.


Unfortunately, the local rental market has become a game of musical chairs -- there aren’t enough chairs when the music stops, so someone is left out. When there aren’t enough homes for people who live and work in a metro area, everyone has to compete for what’s available, and rents go up until people get priced out.

The key to changing this is adding more affordable housing. Not an easy task to accomplish as most local governments claim to be for affordable housing but little if anything gets done to actually create more affordable housing.

[wondermint2]

Rise in Sarasota's annual median income means complications for affordable housing

https://www.heraldtribune.com/story/...is/9620050002/

The estimated area median income for a family of four in the North Port-Sarasota-Bradenton region jumped this year from $77,000 to $90,400 – growing at more than twice the national rate.

It is an increase, experts say, that could translate to greater access to affordable housing for some families but higher rents for others in existing affordable units.

Calculated by the U.S. Department of Housing and Urban Development (HUD) annual median income (or AMI) is used to determine eligibility and rent limits for various state and federal affordable housing programs – from Section 8 vouchers to complexes built with low-income housing tax credits.

[MOforthewin]

Originally Posted by wondermint2

Rise in Sarasota's annual median income means complications for affordable housing

https://www.heraldtribune.com/story/...is/9620050002/

The estimated area median income for a family of four in the North Port-Sarasota-Bradenton region jumped this year from $77,000 to $90,400 – growing at more than twice the national rate.

It is an increase, experts say, that could translate to greater access to affordable housing for some families but higher rents for others in existing affordable units.

Calculated by the U.S. Department of Housing and Urban Development (HUD) annual median income (or AMI) is used to determine eligibility and rent limits for various state and federal affordable housing programs – from Section 8 vouchers to complexes built with low-income housing tax credits.

Basically the rise in income the last year has been a wash due to the inflation. Employers had to offer increases in order to retain talent. Those pay increases are going to living expenses.

Lets say you have two children and both make around 90k a year combined. With the cost of health insurance, daycare, food, home expenses, gas you're not having a big increase in income jumping from 77k to 90k.

Most of that 13k is going to the cost of inflation. It's not just a bunch of extra spending money.


Of course our current admin in DC spins the numbers on employment and wages going up as a coverup for the massive inflation.


Yes many saw raises the last year but that has all been ate up due to inflation. As usual the fake news media when they write their articles about employment, wage increases never mention the runaway inflation taking place.


FJB!

[loves2read]

Originally Posted by MOforthewin

Good one here. Moms friends daughter was renting a home. Her husband got transferred to Texas for work and the new landlords said she can leave no problem and break lease early. So they moved snd as soon as they moved they put new flooring in and remodeling and found another renter.

Now the landlord is suing them for 20 grand for beeaking lease even though they said they can terminate early .

Very shady.

I imagine they took the landlord at his word and did not get a written release from the property owner allowing them to break lease w/o penalty
Of course the landlord has suffered no damage since he got a new renter at higher rent after the new flooring—
Apparently the flooring was ok for the people who had been living there since it wasn’t going to be replaced

This is going to take an attorney but hopefully cheaper than 20K
But the owner might put something negative on their credit report