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We moved here five years ago and choose to rent. We live in a four bed, 2.5 bath in the middle class neighborhood (about 2000 sq feet)...house was built in the 90's. Think suburb, every other house the same floor plan, they just changed the color and moved the windows around, pool and tennis court type amenities. Hwy 14 area between Pelham and Roper Mountain...so nice area. At that time, five years ago, the rent we paid was pretty normal for what we had found in other houses in the area...so its not like we were getting an amazing deal THEN. We found out the owner wants to sell now so we started looking for rentals with a similiar set-up. We knew we had a good price, as the owner hasn't raised the rent in five years (One of several reasons why we stayed). My goodness!!!! Rents prices are CRAZY HIGH in Greenville! As a matter of fact, a house in our exact neighborhood with the exact floor plan is $600 MORE than what we pay!! Sure, it has a few upgrades compared to the house we are in...but not $600 a month worth!! I'm talking $1275 compared to $1875.
We've spent the last few weeks looking at rentals online all over the area as we don't need to stay on this particular side of town...we are pretty flexible. We've looked from Mauldin, Simpsonville, Greenville, Greer, Taylors, Travelers Rest. Prices are $1450-$1850ish for the average suburbia home. Sure there are cheaper homes, but they haven't been updated, full of old wood paneling, nasty old carpet, just old junk. But even those are $1100-1300!!! For old junk!!!!
We've went into to several homes over the last few days as pictures never tell the truth. It's horrifying the prices they want to charge for the condition of some of these houses!! We actually found a neighborhood where the houses were EXACTLY like our current neighborhood....there was a house for rent....it was the EXACT same floor plan as what we have (we didn't have an appointment for that one so we just peeked in the windows). BUT it had linoleum floors in the kitchen (we have wood)....the carpet in the living area was stained....the kitchen appliances looked old....the windows on the back of the house had the screens ripped (like Large rips)...and the back door screen was also ripped and covered in mud (I imagine a large dog jumped up on the door often). These were just the things we could see from looking in the windows (and it is available to rent....it's listed...it's not like they are still doing work on it)...and they are asking for $1750!
I don't see how a middle class family can afford to rent in this area!!! I had a conversation with two different rental agents and both commented how hot the rental market is....prices are high and houses go quick! I'm not asking for help finding a rental, btw...nor advice about buying...we aren't in a position to do that right now....just commenting on the high rental market of the area. It's astronomical!!!
We had to raise our rent to make up for the dead beat renters who would do things without our permission, like paint the walls some really hard to cover color, leave trash in the yard and UNDER and IN the house, and just literally leave us holding the bag on several months rent. I suspect this is happening a lot! We are down to one house now, and when this person leaves, it too will be sold.
I was nervous when I got into the landlord market two years ago, but my house rented within a week being on the market and was lucky enough to get some really great, older, tenants.
I lease out a 3BR (with large bonus room), 2330 sf, large fenced in backyard, in a popular sub-division in Simpsonville. House is about 13 years old and well maintained.
If the current tenants move out (they are planning to retire soon, not sure when though) I was planning to do some upgrades and possibly up the rent some. I charge $1650 now. I'm sure I could go up $100 or more and still have no issues as I see rentals in my area go quickly as you mentioned.
A buyer called me a few months ago offering cash for my house. I told them I wasn't interested at this time, they were kind of surprised. I know it's a gamble, but with home prices on the rise and a tight rental market, it's currently a good situation for property owners.
We moved here five years ago and choose to rent. We live in a four bed, 2.5 bath in the middle class neighborhood (about 2000 sq feet)...house was built in the 90's. Think suburb, every other house the same floor plan, they just changed the color and moved the windows around, pool and tennis court type amenities. Hwy 14 area between Pelham and Roper Mountain...so nice area. At that time, five years ago, the rent we paid was pretty normal for what we had found in other houses in the area...so its not like we were getting an amazing deal THEN. We found out the owner wants to sell now so we started looking for rentals with a similiar set-up. We knew we had a good price, as the owner hasn't raised the rent in five years (One of several reasons why we stayed). My goodness!!!! Rents prices are CRAZY HIGH in Greenville! As a matter of fact, a house in our exact neighborhood with the exact floor plan is $600 MORE than what we pay!! Sure, it has a few upgrades compared to the house we are in...but not $600 a month worth!! I'm talking $1275 compared to $1875.
We've spent the last few weeks looking at rentals online all over the area as we don't need to stay on this particular side of town...we are pretty flexible. We've looked from Mauldin, Simpsonville, Greenville, Greer, Taylors, Travelers Rest. Prices are $1450-$1850ish for the average suburbia home. Sure there are cheaper homes, but they haven't been updated, full of old wood paneling, nasty old carpet, just old junk. But even those are $1100-1300!!! For old junk!!!!
We've went into to several homes over the last few days as pictures never tell the truth. It's horrifying the prices they want to charge for the condition of some of these houses!! We actually found a neighborhood where the houses were EXACTLY like our current neighborhood....there was a house for rent....it was the EXACT same floor plan as what we have (we didn't have an appointment for that one so we just peeked in the windows). BUT it had linoleum floors in the kitchen (we have wood)....the carpet in the living area was stained....the kitchen appliances looked old....the windows on the back of the house had the screens ripped (like Large rips)...and the back door screen was also ripped and covered in mud (I imagine a large dog jumped up on the door often). These were just the things we could see from looking in the windows (and it is available to rent....it's listed...it's not like they are still doing work on it)...and they are asking for $1750!
I don't see how a middle class family can afford to rent in this area!!! I had a conversation with two different rental agents and both commented how hot the rental market is....prices are high and houses go quick! I'm not asking for help finding a rental, btw...nor advice about buying...we aren't in a position to do that right now....just commenting on the high rental market of the area. It's astronomical!!!
Sounds like you got a great deal five years ago.
We bought an investment property in 2006, and ten years ago we charged $1650. It's bigger than yours at 2900sq.ft. and it's nicely upgraded - I'd live there. We now charge $1800. Perhaps when you go to rent a new place, the landlord will negotiate monthly rates depending on how long you sign the contract for. For example, our house, one year 1800, two year 1750, three year 1700 etc.... Up until a year ago, all our renters were corporate, and I think there's so many people relocating here for a few years with big companies like GE, BMW and Michelin, it's a landlord's market.
Perhaps the owners of your house would be open to "Rent to Own" or whatever it's called?
Good Luck.
Unfortunately rents are going up. Not only are they going up, there really is really much available. I agree with you on how some of these places look. My daughter was looking for a place to rent and some of these places were a disgrace. Granted, she was on the lower end but sheesh!
Just keep looking. Hopefully, something will come up. Check Craidslist, Trulia and Zillow. Good luck!
I'm not asking for help finding a rental, btw...nor advice about buying...we aren't in a position to do that right now....just commenting on the high rental market of the area. It's astronomical!!!
Obviously I have too much time on my hands this morning but have you looked at Orchard Farms? Not far from 14/Pelham/Roper. There's a decent one, for $1650 - 22 Halehaven Drive.
I think the OP's point is that even $1650 a month is not really affordable for the typical middle class family. Probably $1200-$1250 is the max most people could handle based on low wages in the area.
I think the OP's point is that even $1650 a month is not really affordable for the typical middle class family. Probably $1200-$1250 is the max most people could handle based on low wages in the area.
Yes; I get people every day looking for rentals in that price range or less; almost impossible to find.
I think the OP's point is that even $1650 a month is not really affordable for the typical middle class family. Probably $1200-$1250 is the max most people could handle based on low wages in the area.
That's got to be the biggest problem here. IMO more make less than $15/hr than make over that amount and they don't have $1500+ for rent. My mortgage is around $700 for a 1600 sq. ft. house that I live in. Factor in the higher 6% tax on non-owner occupied property and you have a bad situation beginning to rear it's ugly reality! There really should be a different tax classification for long-term rentals over short-term rentals.
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