Local Apartment Rent Increases Slowing (Sarasota, Bradenton: apartment complexes, rental market, how much)

[wondermint2]

Local apartments rent increases slowing - News - Sarasota Herald-Tribune - Sarasota, FL

Red Tide starting to effect rental prices in the area? If the Red Tide problem persists I expect there will be even more moderation in rental prices. I feel sorry for the businesses being hurt by the Red Tide problem - but you'll have to excuse me for not shedding any tears for landlords (who were already getting ridiculously inflated rental prices).

[beach43ofus]

Red Tide seems to be dissipating, and landlords get what people will pay...supply and demand...free market economy.

[wondermint2]

Originally Posted by beach43ofus

Red Tide seems to be dissipating, and landlords get what people will pay...supply and demand...free market economy.

And do you have some research or proof to show how much (if any) in the slowdown of rental price increases was due to red tide? I posed the question, I suspect that it does, but I have no proof of the correlation.

From the article:

"Longboat Key, North Port, Palmetto, Sarasota and Venice each posted average annual rent increases that were less than Florida’s 1.7 percent, according to a report from online rental marketplace Apartment List.

Englewood matched the statewide increase, while Bradenton was higher."

---------------------------------------------

Isn't there also red tide in Bradenton? Bradenton rents increased more than the state average. How would you explain this? Is the red tide not as bad in Bradenton? (Anna Maria beach). And how about Englewood?

As for me personally I refuse to pay excessively inflated amounts for rent. I also manage to find/negotiate rent amounts that I think are reasonable. Even in this area.

Just for the sake of argument - how do you feel about people that sell bottled water for 5 to 10 times the normal amount after a hurricane? Granted this is an extreme - but isn't this also just supply/demand in a "free economy"?

[Sunshine Rules]

The local apartment rental rates have been decreasing as more and more new construction apartment complexes have been coming on line. I can count at least NINE new rental apartment complexes in just the past year, with others under construction.

Supply and demand. Strong demand for limited rental units lead to new construction, new construction added to the supply side, so rental rates are backing off as apartment complexes are now competing for renters.

Nothing has been mentioned to date that indicates red tide is affecting annual rental rates.

[beach43ofus]

Just for the sake of argument - how do you feel about people that sell bottled water for 5 to 10 times the normal amount after a hurricane? Granted this is an extreme - but isn't this also just supply/demand in a "free economy"?

There are laws in place to deter that, and they are enforced. A free market economy is what has made America great, but there are ways it can be abused. If you are looking for perfection, you are in the wrong universe. Maybe in the afterlife.

The American free market economy produces very high productivity rates. It's a big part of why so many people from other places want to come here.

[wondermint2]

Originally Posted by beach43ofus

Just for the sake of argument - how do you feel about people that sell bottled water for 5 to 10 times the normal amount after a hurricane? Granted this is an extreme - but isn't this also just supply/demand in a "free economy"?

There are laws in place to deter that, and they are enforced. A free market economy is what has made America great, but there are ways it can be abused. If you are looking for perfection, you are in the wrong universe. Maybe in the afterlife.

The American free market economy produces very high productivity rates. It's a big part of why so many people from other places want to come here.

I am not against a free market economy. But I am against the hypocrisy of landlords that always come on here and claim "they are barely getting by", "expenses are eating us up", "they raised our property taxes" blah, blah blah. If you (not you personally but landlords in general) want to profiteer and take advantage of the American Way fine that is your right - but then man up and call a spade a spade. Don't try to pull on the public's sympathy strings as you open their wallets for a big fat over-inflated rent.

From the article: **the median monthly rent of $1,382 for a two-bedroom Sarasota apartment was $179 more than the Florida median and $202 higher than nationwide.

“Compared to most large cities across the country, Sarasota is less affordable for renters,” **

------------------------------------------------------

So what are all these expenses that are eating up landlords in Sarasota - but not the rest of Florida? If you listen to your beloved leader Trump (and his cronies) - we have virtually no inflation. The definition of "no inflation" means costs are not rising. Property tax in no way justifies the rent increases we've seen over the past several years. Supply & demand justifies the rise. That's it.

[beach43ofus]

Sarasota is more desireable than most other places so it can command higher rents. You are free to move. I have not heard of any landlords saying anything on this forum. Can you share examples?

If their rents are over-inflated, then their occupancy rate is suffering.

Should the rent in Sarasota be the same as the rent in Bartow? Or, Fort Pierce? If so why?

I'm having a hard time understanding your logic, but I genuinely want to.

So far as Trump, he was my 5th choice, so not my beloved leader, just the least worst of the choices I had when time ran out. I preferred Rand Paul, Ben Carson, Carly Fiorina, and Rick Santorum all over Trump.

As Mick said "you can't always get what you want".