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Renting in Columbus

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This topic contains 21 replies, has 0 voices, and was last updated by Schoolboy Schoolboy 1 year, 8 months ago.

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  • #95504
    Schoolboy
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    I’m not sure how many of us on here rent, but I’m guessing it’s a fairly decent percentage.

    It isn’t really a discussion on why I rent, but the frustrations that I’ve had in this past year in trying to move back to Columbus.

    When I left 2 years ago it was to take a temp job over an hour away. Now I’m trying to return to find the market drastically changed from when I left it.

    3 years ago the same townhome I rented was in the south Clintonville area for $850 per month. That was completely remolded prior to myself moving in.

    Now they rent the same condo for $1250 a month.

    Prior to this I rented a home in Worthington for $925. Now it rents for $1400! This house has less sq ft than the townhome, wasn’t exactly in the best area, and hasn’t been updated since the 90′s.

    I’ve viewed several houses for rent that are simliar to the Worthington home. Just Ok area, not quite large enough, with old outdated appliances for 30% more per month than when I left.

    Many of these rentals are owned by companies with several properties. Some are extremely sketchy. Like Columbus Best Rentals who told me I need to pay a “viewing fee” for every property I wanted to see of $35. An app fee of $150. First and last month’s rent, plus 2 months rent for deposit, and the rent amount could fluxuate depending on what I can afford to pay.

    Did I miss something in the past couple of years, because the pay rate most definitely hasn’t increased by 30% here.

    What will this do for Columbus’ affordable housing rate?

    #530816
    Walker Evans
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    After the housing market collapsed, many have shied away from home ownership. That’s coupled with changing demographics that are naturally leaning more toward renting than owning. The prices have gone up because demand has gone up:

    http://www.columbusunderground.com/forums/topic/columbus-apartment-rental-market-getting-more-expensive

    And it’s not just Columbus… it’s all over the US:

    http://www.columbusunderground.com/forums/topic/its-now-cheaper-to-buy-a-home-than-rent-one-in-all-100-largest-us-cities

    And it’s not likely to change too soon:

    http://www.columbusunderground.com/forums/topic/why-millennials-aren%E2%80%99t-buying-cars-or-houses-what-that-means-for-the-economy

    #530817
    Walker Evans
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    Also… the soaring demand is what has given residential developers the incentive to build new apartment products, especially in the urban core of the city. There’s over 5000 units either announced, under construction or recently opened:

    More: http://www.columbusunderground.com/the-list-11-new-apartment-developments-around-columbus

    And more: http://www.columbusunderground.com/the-list-10-more-new-apartment-developments-around-columbus

    And even more: http://www.columbusunderground.com/tag/apartments

    #530818
    Schoolboy
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    Reading the topics listed above I did see 1 thing that stands out.

    You need to drive around and find the signs.

    90% of the rentals I’ve viewed are owned by a company w/ several properties… or at least managed by one. They have also been vacant for 3+ months. Perhaps craigslist and trulia is not the best way to go in order to rent anymore.

    #530819

    mrpoppinzs
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    I have been pointing people who are having a harder time finding economical housing toward Old Town East. There are a lot of really affordable rentals over in the area. Just be sure to check out the block (at various times) and also look into the cost of utilities – some older houses have really high heating/cooling costs.

    Unfortunately, I think this is due to a large amount of foreclosures reverting privately owned houses to investor (landlord) owners. Regardless, it does seem to be more of a renter’s market there. It is also easier for negotiating pets.

    #530820

    leftovers
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    Recently some friends of ours had their rent in Italian Village go up by $300 and they were effectively pushed out. They ended up buying a home in the Westgate area with a mortgage payment less than their rent. That said, they really miss the walkability and amenities they used to have in IV.

    On a side note, is there any laws on how much a landlord can up the rent?

    #530821
    Graybeak
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    leftovers said:

    On a side note, is there any laws on how much a landlord can up the rent?

    I hear that is big in NYC. But we haven’t quite got to the point of rent controls yet.

    #530822
    Snarf
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    leftovers said:
    Recently some friends of ours had their rent in Italian Village go up by $300 and they were effectively pushed out. They ended up buying a home in the Westgate area with a mortgage payment less than their rent. That said, they really miss the walkability and amenities they used to have in IV.

    On a side note, is there any laws on how much a landlord can up the rent?

    Second Job > Moving to Westgate

    #530823
    SusanB
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    The Merion Village/Hungarian Village area is still somewhat affordable but that is rapidly changing. I have no trouble renting out my houses these days to really high quality people. Here’s some on craigslist (sorry all of mine are full):

    http://columbus.craigslist.org/apa/3563499580.html
    http://columbus.craigslist.org/apa/3562574363.html

    http://columbus.craigslist.org/apa/3563497052.html

    #530824

    Twixlen
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    I’ve lately seen some signs on Summit in IV and one on 4th in IV, near SJT. So yeah, you really do have to drive around.

    #530825
    murfmurphy
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    Snarf
    Second Job > Moving to Westgate

    I’m curious as to why you would think that?

    #530826
    Snarf
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    murfmurphy said:
    I’m curious as to why you would think that?

    As the OP indicated their friend missed the walkability.

    I too miss living in the SN. Westgate is not poppin.

    #530827

    bucki12
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    While prices have gone up, it is still mostly about location.

    I recently moved a friend into a good street in the northern part of Highland West. He is renting a 1200 sq ft half double in great shape for only $500 a month. For a little more you can find similar deals in OTE, KLD and Franklin Park. Signs are the best way to look, imho.

    #530828
    murfmurphy
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    Snarf said:
    As the OP indicated their friend missed the walkability.

    I too miss living in the SN. Westgate is not poppin.

    If you got a second job you would be at work more and wouldn’t be able to walk around your neighborhood anyway.
    Moving someplace cheaper > Second Job.

    #530829

    myliftkk
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    Yard signs are always the way to go.

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