In 2022, most Americans had it rough financially. Inflation surged up to 9.1 percent at one point, and food prices hit an increase of 9.9 percent. If that wasn’t enough, those who rented were also hit hard. Overall, in the United States, multifamily renters were experiencing increases of 12.2 percent for new tenants. Renewals were…
Las Vegas Rent Decreasing
July 19, 2023
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Landlords’ Profit Margins Minimal, Human Resources Committee Hears
July 14, 2023
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The average profit margin for a Canadian landlord is 8 percent, the Commons human resources committee heard Thursday. Attendees at the July 13 meeting struggled to agree on the best way to expand the national housing inventory, according to Blacklock’s Reporter. John Dickie, president of the Canadian Federation of Apartment Associations, said that reality may…
Illinois Landlords May Face Civil Rights Lawsuits for Refusing Illegal Immigrants
July 12, 2023
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Illinois Gov. J.B. Pritzker has signed a law that means landlords could face a civil rights violation lawsuit if they refuse to sell or rent their property to an illegal immigrant. The new legislation, Senate Bill 1817, amends the Illinois Human Rights Act, under the banner of equality and inclusivity, to include “immigration status” as a protected class….
Australian Households Spend Record Levels of Income on Rent
A new analysis has shown that Australian households who do not own their place of residence now have to spend nearly a third of their income on rent, with spending expected to remain high in the near future. According to a housing affordability report by ANZ Bank and real estate data provider CoreLogic, the portion…
Home Mortgage Payments in Many California Cities Cost Much More Than Rent
May 24, 2023
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Booming housing prices in several California cities have far outpaced rental prices, according to a new analysis by real estate brokerage Redfin. “It probably doesn’t come as a surprise that there are virtually no homes in the [San Francisco] Bay Area that are cheaper to buy than rent,” the national real estate company reported May…
GTA Average Rent Reaches Record High of Over $3,000 in First Quarter of 2023
The rental market in Toronto has hit a record high, with the average rent for purpose-built rental buildings soaring to over $3,000 in the first quarter, the latest data shows. According to the latest figures released by Urbanation, the average monthly rent for purpose-built rentals in the Greater Toronto Area (GTA) reached a record high of…
Renters in Canada Face Toughest Market in Decades Amid Surging Demand, High Prices: CMHC
Renters in Canada are facing the toughest market in decades as surging demand and high prices meet some of the lowest national vacancy rates in decades, according to the Canada Mortgage and Housing Corporation (CMHC). The national average vacancy rate for purpose-built rental apartments declined to 1.9 percent last year—the lowest level since 2001, the housing agency…
Biden Administration Rolls out ‘Renters Bill of Rights’
The White House announced a plan on Wednesday that it says will protect renters and help curb rental costs, although at least one national housing association has expressed reservations about it. A so-called “Blueprint for a Renters Bill of Rights” (pdf) was included in a White House fact sheet released Wednesday. It lays out proposals for…
Twitter Faces Lawsuits Over Unpaid Rent for US HQ, UK Office
LONDON—More landlords are taking Twitter to court over unpaid rent, this time at the social media company’s headquarters in San Francisco and its British offices. Twitter is facing a lawsuit over allegations it failed to pay rent for its head office, according to California court documents. The owner of its premises in central London, meanwhile,…
3 Midwestern States Now Rivaling Florida, New York in Rent Hikes
It’s not surprising that rents in high-priced locations like New York and Florida are always on the rise, but escalating rents in midwestern markets can be a real head-scratcher. Rent.com’s December national Rent Report indicates rents in three midwestern locations are now climbing at almost the same percentage rate as two of the higher-priced markets…
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