The benchmark setting for rental housing in our area has become the Army's basic housing allowance or BAH. The published figures are the amount the government provides soldiers for rents and utilities.
In the area's tight housing market, a distortion has occurred as high BHA (relative to the local population) have been chasing housing units not necessarily consistent in quality with what's being charged. As more new units come on line those dollars will be chasing the higher quality new units with a perceived value in four figures.
Landlords who have enjoyed the boom and adjust their rents to compete will do OK, Others will see high vacancy and will let their marginal housing stock deteriorate.
That's at the heart of a call for a housing strategy..aka public money poured into privately owned buildings.
I have two units and have kept them rented to good tenants at affordable prices. Apartments are not my primary occupation and I want as little hassle as possible.. Turnover is hassle, as are non-payers and apartment wreckers.
The forces of the marketplace have been altered by all of the government induced building which for political reasons had to be spread around the countryside.
A housing strategy is no more than polemics unless there is an endless supply of money to give away. There is not, so we will largely still depend on the marketplace to dictate the fate of most older properties.
Drum soldiers' housing allowance up, but rents still expected to stabilize | WRVO Public Media
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