Page 88 - AAGLA-JUNE 2022

Member Update
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JUNE 2022 • WWW.AAGLA.ORG
How Things Are Improving After COVID-19 Begins to Lessen Around the U.S.
TBy Nicole Seidner
he so called “Pandemic Exhaustion” or “Pandemic Fatigue” is real enough that doctors are examining it, but there is good news. In 2022, we’re finally around the bend and getting back to the real world. That means normal renting, normal moving, and
getting back to Work as it Was. What does the end of the pandemic mean for you?
Renting on Your Side
Sheltering in place has been over for quite some time, but now we’re in the swing of it. Restaurants are back open to full capacity as mask mandates are coming to an end. Indeed, Hawai’i is the only state that has a requirement for indoor mask usage. That means renters who worked in restaurants or other similar positions and subsequently lost their jobs in the pandemic are likely to have returned to work. With work means the better chance that they can pay their rents on-time. The return to normal, in addition, includes the end of some laws that impede your ability to ask for rent.
Now that more renters are moving about, it seems many landlords can have their pick of the top applicant. A majority of renters who sheltered in place during the pandemic are
reporting to have felt a kind of “buyer’s remorse” as they were forced to stay inside for the past two years. Staying in one place for so long is a great way to pick out every flaw in their rental, and so now they’re finally moving. With so many moving at the exact same time, now seems to be a prime time to fill the vacancies and with the best applicant that you can get.
That Price Hike is Real
After the pandemic forced many landlords to take a strong, bad kick, many have sought to make up for lost time. Not a bad strategy, and certainly not an uncommon one. Across the nation, many states were reckoned with a rental increase. In Atlanta, Georgia, rent has increased by around 22%. In Buffalo, there was a case of rent increasing by 50%. In Orlando, Florida, one man noted his rent increased by 65%. It’s landlord’s market.
There are many pros and cons of a rental price increase. By raising your rent price to match the current rate of the market, you indicate that the property has the same or greater value to other properties. You can help cover the increased price of utilities or taxes affected by inflation, or perhaps get a touch more profit. At the same time, this
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