Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 6 months ago

Why is rent so high?

Update:

washington state

Update 2:

its when ones that have pets that put the rent high in my eyes cats an dogs peeing all over

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  • 6 months ago
    Favorite Answer

    Because supply is low and demand is high. This is generally the case everywhere, but it's particularly true in large cities and the costal regions of the US. Not enough rentals, lots of tenants looking to rent. That means it's a seller's market (or, rather, a landlord's market). Someone, somewhere will pay what they're charging, so why wouldn't they charge it? It's a business, after all. People rent out their property to make money.

    As for why demand is so high, fewer people are buying homes and more people are renting. This breaks down into either people not being able to afford to buy, or people simply choosing to rent out of convenience. As a property manager, I see both situations daily. There's no shortage of renters, even at properties priced well over market rent. Supply and demand. Simple as that.

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    • anonymous6 months agoReport

      Rents are not lower because of no pets, rents are higher because of pets!!!! Very few places anymore allow pets, because tenants don't care & allow their pets to damage places that don't belong to them.

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  • 6 months ago

    Trying to earn the most money as possible

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  • GEEGEE
    Lv 7
    6 months ago

    sure landlords want to make a profit, but they have expenses too. Taxes, insurance, often a mortgage, all kinds of things that add up quickly.

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  • 6 months ago

    Stuff is expensive...that's life. Its supply and demand.

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  • Kim R
    Lv 7
    6 months ago

    Because it costs a lot to buy a place where you live, plus property taxes are expensive, so to actually make any money at all, the landlord has to charge high rents. Move to the Deep South (smaller towns in Alabama, Mississippi, etc.) and you will find rents that are much less expensive.

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  • 6 months ago

    We dont know where you live.

    • Tiffany6 months agoReport

      it haves that state down for then

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  • Anonymous
    6 months ago

    the ones that rent just trying to get all your pay out of you

    thy care about high rent then some one being homeless so sad

    I know its is a job for then but at the same time need to have rent thy down

    like saying no kids an no pets an so on

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    • anonymous6 months agoReport

      Not surprising that they damaged the place. This is what happens when you let people live rent free. Even people who pay rents damage places because the property isn't theirs.

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  • 6 months ago

    Because the demand for rentals exceeds the availability of rentals to rent. When the demand exceeds the supply of about anything, the price on that anything will go up. Contrary, if the demand slacks off and there is an excess of supply, prices will drop.

    It's called the law of supply and demand. It's a fundamental law of capitalism.

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  • Greg
    Lv 7
    6 months ago

    It is expensive to own, fix up, repair apartments. Tenants often damage apartments or run off with unpaid rent. Why don't you buy a place and rent it out?

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  • Mike
    Lv 7
    6 months ago

    Depends on where you live NYC has high rent for a tiny studio Apt.

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