Deseret News | Rental hikes — Salt Lake, Provo top list of biggest increases in nation

Reader comments
Rental hikes — Salt Lake, Provo top list of biggest increases in nation

Gus | 2:22 a.m. July 19, 2008

Of course rent rates increased. As purchasing real estate is an unattractive and even difficult to do these days (what with falling values, rising rates, and stricter lending standards), more people are electing to rent. More demand for rentals = higher rents.

I've been a homeowner before but I currently rent. Renting is great right now because of all the flexibility it affords. And if something breaks, I just call the maintenance guy and he fixes it for free! I am socking away money waiting for the ideal moment to buy a house. You should too.

Bob G | 4:26 a.m. July 19, 2008

I wouldn't call it a strong economy and job security being any factors in highly inflated rentals, it's the state subsidised rent the taxpayers and putting out. Especially with the illegal aliens who are all on welfare and getting state subsidiesed rent and utilities. This allows rental units to tap in to tax funds regardless of how much the rent units cost. So the economy and rental rates are related to what the state will subsidise. Utah's income level has declined while state subsidies for illegals is on the increase. Utah's economy is not so hot and jobs are not even fairly paid to meet minimum wage standards. Yet inflation in Utah is high and our economy is not doing well. We have unemployed illegals wandering the state forming gangs and crime rings victimizing and terrorizing the people of Utah. If you value your life and possesions you do not want to live in Utah, the mexicans will steal it all from you under the protection of our government leaders who are aiding and abetting the sanctuary for illegal foreign nationals.

Bob | 5:23 a.m. July 19, 2008

Yeah, I moved from out of state to Utah in 2003 and noticed how much this is just a money grubbing place. Not just with Housing but with everything people are extremely fake here and only after the money. Don't say this to be mean to Utah'ns however unfortunately some of the values that people hold outside of Utah that are supposed to evident here are disturbing. It is a beautiful place but horrible attitude.

Comments continue below

oldman | 6:34 a.m. July 19, 2008

All lousy excuse aside. Greed is the name of the game. America is becoming a wonderful place to live.

Jake | 8:24 a.m. July 19, 2008

Out of control property tax is driving these horrid rental rates up. We are subsidizing our renters at the rate of $1300 a month using our current property tax figures and expenses.

Utah expects this to just go on and on and ..... ? ?

BA | 9:10 a.m. July 19, 2008

Wow Bob, you're a super racist, that was amazing.

Thinking for myself | 9:15 a.m. July 19, 2008

Bob G., you are aware that you can actually read the news without leaving a bunch of hateful vitriol afterword aren't you? I can track every story you read by the amount of hate and quite frankly, missinformation you leave in your wake. I actually agree with many of your points, but they get lost amidst all the crap. Have a nice day!

This is because | 9:31 a.m. July 19, 2008

all the old geezers who know each other and rent to students are like sheep. If Vern raises the rent on his units, gosh darn Billy Bob does the same. Utah County: open fields, closed minds.

no demand | 9:47 a.m. July 19, 2008

I really doubt it has anything to do with increasing demand for rental units but more to do with landlord perception. "If the guy down the road just raised his rent then so can I" "Gas prices are up so I need to raise the rent".. .

Re: Gus | 10:56 a.m. July 19, 2008

NOW is the ideal time to buy a house!
When the grocery store has a sale what do you do?
Stock up! Right now, homes are on sale.

Supply and Demand | 11:02 a.m. July 19, 2008

As a landlord, I general charge less than market rates because I like to have lots of applicants to choose from.
I generally decide what to charge by gauging what other rentals in my area are charging. If I don't get a lot of calls initially, I will lower the price.
To me, having good clients is much more economically sound than charging top dollar and renting to the first bum that comes along.

Insulting landlords gets you guys nowhere. Because some people have worked hard and accumulated some wealth is no reason to bag on them, unless you are liberal and hate rich people.

Re: no demand | 11:05 a.m. July 19, 2008

If there is no demand for rentals, you surely can find some cheap place to stay.
Go take economics 101. Oh, wait, you didn't attend college, otherwise you would not say such stupid things about subjects you have no idea about.

Anonymous | 11:32 a.m. July 19, 2008

Salt Lake City registered the largest apartment-rent increase in the nation, aaaaaaaaaaaaaaaaaaah poor baby, and it "SHOULD", why with all "those 10 fold getten back, what you gave, after giving the Church your 10% gross income, plus going to BYU to get a degree to get a high paying job behind some desk somewhere, in the a/c, to frail to get an ourdoor job, and work like a real man does, and you whine about "HIGH RENT"?. Than buy your own house, see what it's like in the real world, or stay tucked under youe mommies-wing at her house till your in your 40's and can afford a home than. One don't need take economics 101 to figure out your all a bunch of whiner's.

Stewart | 11:48 a.m. July 19, 2008

When rents were forced low due to easy mortgages no one felt sorry for the landlords, many of which actually paid more in mortgages, taxes, and expenses than they took in in rent payments. Of course many have invested in the property for many years and deserve a profit. For the past few years it has actually been cheaper to buy than to rent. If you couldn't pay the mortgage you simply refinanced and continued. If you couldn't pay the rent you had to move, leaving the owner several months owing in rent. With a mortgage it would take the lender nearly a year to get their property back, with tens of thousands of dollars owing. Many of these buyers should have never been allowed to have a mortgage in the first place.

By the way, those that think rent is too high, and just driven by greed, perhaps you should tell your boss that you don't need a raise or refuse that COLA on your social security or retirement. That way it would reduce the rate of inflation in the area. You that are self employed perhaps you should lower your rates to your customers. Just a thought.

Renter | 12:26 p.m. July 19, 2008

I am a renter in the Salt Lake Valley, and have rented in Provo. My experience is that landlords want as much money as they can get for their units. They see their property as an investment; they seem to have an "I deserve" attitude. I have lived in apartments that we considered "cheap" compared to the rates of surrounding apartments. Such apartments are tiny and filthy (During my tenures I have found mucus on walls, leaking toilets, infestations, mold). But why have I rented from these? It was all I could afford. After paying rent for such places, I have very little left over to save for my own place. I have found that landlords see their renters as people who are less deserving than they. Renters are given the stigma of people who are too lazy or too dumb to own their own house. I have worked since the age of fifteen, put myself through college, and I am considered to have a "professional" job. Yet, the cost of renting is making it hard for me to save money to buy a house of my own. Thus, I am stuck in the renting cycle.

salt lake landlord | 1:01 p.m. July 19, 2008

from a landlord perspective, I have been losing money for 3 of the past 5 years due to the fact that rent rates were so low and my expenses high. I have alot of respect for my renters. I let my renters pick out the tile for the bathroom, the carpet for the basement etc. the paint for the walls. I would say my property has alot of their personality in it. I value a renter who cares for my property and pays on time much more than making a profit. 90% of the people in the Bay area in CA couldn't qualify for their loans if they had to get a new mortgage today. Salt lake is gradually following that trend. I know I couldn't qualify for my home today when I did 5 years go.

shiggz | 3:29 p.m. July 19, 2008

Bob you're accurate economic points prove you are a racist! Therefore, I need not address your accurate economic points.

Wahwahwah | 4:12 p.m. July 19, 2008

I moved to the Salt Lake valley in 2006 and in the last 21 months my rent has gone up $60 with the biggest increase being this month - $30.

It's a one bedroom unit which is too small for 2 people but before moving here we knew it would be something that we could afford. We are paying under $400 a month.

Property taxes to go up therefore landlords do have a right to increase their rents.

I know that there are many apartments out there but you have to be within a certain income bracket to move into them. We almost didn't get this apartment because we have too little money coming in - I have been able to prove that we are a good risk and pay our rent every month even our utilities are up to date. We go out to eat once a month. What I am saying here is - you need to live within your income. We pay cash for everything - no credit cards. We also live on a fixed income - very fixed.

liberal Larry | 4:25 p.m. July 19, 2008

My rental profits have been very flat since the Olympics. The biggest expense increases have been in taxes, and insurance, but these are both related to the increased appreciation on our rentals, over the last 5 years. I've raised rents about 5% over the last year, just to try to get back to the profit margins of 2002.

Their is a lot of money in rentals, but it takes time, risk and a lot of hard work. It's hard to admit, but one of my best friends is a very good landlord, and (gasp) a CONSERVATIVE! Hard to believe, but it's true.

Higher in Uintah Basin | 12:00 a.m. July 20, 2008

Rentals are higher in the Vernal area. There is a shortage of available rentals, and those that are available range from $1100 per month for a 2 bedroom 1 bath APARTMENT--not house--to over $3000 for an executive type home. The oil boom that has been going for the past 3 or 4 years is the main cause, as there are many people moving into the area, many are earning a lot, so landlords are taking advantage of the situation. The problem is, not everyone works for the oil companies and related businesses. Our son earns about $14 an hour, has a wife and 2 kids, and he's paying $900 a month for a basement apartment, plus the utilities. They are really struggling to make it. We know many people whose rent has increased from $300-$400 a month to $1000, for the same place. Those who are on fixed, or more "normal", incomes have a real struggle to just find a place they can come close to affording. No end seems to be in sight for the problem, either. New construction is renting for even higher prices. People are renting out BEDROOMS in their homes for $600 a month!

Vernal Rates, again | 12:20 a.m. July 20, 2008

Just looked at the rental section of a local paper and found the following rental rates: Cheapest was $500 for a ROOM with shared kitchen/laundry, etc. Highest was $2800 for a 5 bedroom house. Average price was about $1450, which required first and last month's rent, plus a $1000 deposit. Many rented for $1600. Many others rented for $2300. Twin homes and condos are in the $1750 range. A few were in the $1000-$1250 range. I'm just glad I'm not looking for anything to rent. We've been offered $1000 a month to rent our 16' camp trailer. Didn't do it, however. Home buying prices are just as bad. Old homes needing lots of repairs are being sold for $200,000. Our son looked at one that was a "fixer-upper" for $95,000. Had no appliances, tile, carpeting, kitchen cupboards, bathroom plumbing, or furnace. Basically a gutted shell with broken windows! It's really crazy out here!

Billings Surprise | 12:38 p.m. July 20, 2008

Is this a surprise to anyone? It shouldn't be. Everything Mayor Billings has touched with his mits has gone sour in this community I have lived in my entire life. It shouldn't be shocking that a terrible Mayor who couldn't even get a college degree that makes deals like iProvo, Action Target, the highest budget in history etc. is reaping more mayhem upon the residents he purports to be leading. Some leadership. I have not seen poor management from a Mayor like this in my entire life in this community. Unfortunately for us citizens it will only get worse before it gets better.

Just a Thought | 2:13 p.m. July 21, 2008

I read in a report from CB Richard Ellis that the average rents for Salt Lake County were $816 back in March. It may help the article if the current average rents were revised based on local research. From other research groups like CBRE locally I've read that at midyear 08 rents were $821.

However, it is true that our market is much lower in rents and price per square foot than other markets...

Anyway... just a thought.

Shocked Student | 3:14 p.m. July 22, 2008

Provo has some of the most ridiculous rental rates in the United States. It is a small community that tries its best to rip off the students who come there to learn. Your rental rates should not be as high as major US cities, stop ripping people off please.

Repulsed Parent | 10:10 a.m. Aug. 31, 2008

We recently moved two daughters into residences. Both attend BYU. I was again appalled at the filth my daughters have to live in repeatedly because it is all their friends and roommates could afford. My daughters were left homeless for weeks because the apartments they were moving into were "being cleaned". No cleaning has been done at either apartment. Urine stains on mattresses (or something else I would hate to consider), bug invested carpets, mucous on walls, etc. We are told from our prophets that cleanliness is important. How are our children supposed to live in cleanliness when they are limited to such filth. It would take weeks to seriously clean the apartment. They start school in 2 days and were only able to move in on Saturday, yesterday, hence limited time for serious cleaning. I believe a committee should be formed via BYU that encompasses more of a "standard" requirement for housing other than just separate dwellings for male and female. I believe Provo and the self professed Christians of the area are missing the point that our leaders are trying to get across to you. I pray your mansions in heaven resemble the apartments you provide our students.

Dave | 11:08 a.m. April 29, 2009

I like the comment from Repulsed Parent, but unfortunately much of the blame for this situation can be placed on BYU. For starters, the two-mile boundary has sheltered property owners from market conditions--if you're in the territory you have it made.

This wouldn't be as much of a problem if BYU actually enforced the conditions they impose on "BYU-approved" properties. BYU doesn't need a new committee to do this; they already have one, but they seem to spend most of their time ensuring that college kids are keeping the moral standards, and little time protecting the rights of those students. I've heard and experienced countless situations where landlords violated city, state, and BYU housing codes with no repercussions, often after BYU has been notified of the problem. Landlords in this valley know they can rent out roach-motels and back out of contracts at will, because BYU is happy as long as their students aren't drinking beer and fornicating.

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