PHOENIX (3TV/CBS 5) — Elysia Kehoe and Chris Olivera are like many renters, having a tricky time discovering an inexpensive place to stay. “We’ve been trying a couple of month,” stated Kehoe. “Costs are simply going up continuously, and never by just a little, they’re going up $100 each different week.” However there could also be some rental aid in sight.
Eric Atencio with Valley King Properties stated the slowdown within the Phoenix space housing market is instantly impacting leases. Extra houses at the moment are listed on the market, that means renters have extra choices, resulting in extra residence vacancies, stated Atencio.
“Final week, I obtained contacted by one other proprietor of one other 400-unit property,” stated Atencio. “That they had 40 residences able to be rented, so we’re undoubtedly being contacted by landlords that want their vacancies stuffed. We’re seeing that greater than we now have within the final three years.”
Extra residences accessible seem like stabilizing what landlords are asking for hire, and it couldn’t have come at a greater time. In keeping with Lease.com, hire costs are up 31.4% in Phoenix over the previous 12 months. They’re up 18% in Chandler and 13.8 % in Mesa.
Renter Christopher Garcia says hard-working Arizonans shouldn’t must battle a lot simply to have a good place to stay. “There are lots of people on the market that cant afford these costs, it’s ridiculous,” stated Garcia. “They do want to return down, 100-percent they do.”
Copyright 2022 KTVK/KPHO. All rights reserved.