I want to look to rent in a new neighborhood in the next six months. I’m 45, want my own apartment, and want to increase my income. But I’m not sure how to find my next apartment in a market where the rental costs go up every time another one comes on the market.
Think of it like an old tale: You’re looking for a summer rental in a warm destination, and there’s a newer home with the best views of the ocean a gorgon offered for rent.
But the younger tenants asking for the “attractive” digs are some of the very same students who grew up with those views as their backyard. They’re taking the properties away from adults just coming into their own at 25. They’re keeping this real estate away from people who will rent it out to people who they’ll stay friends with. The customer — even if he pays all the rent — is revolting.
If I rent in that scenario, I have two choices: Leave that property empty for months at a time and hope for the best, or move out of my current home. I don’t want to risk losing my current tenant and not being able to find an affordable place to move in. Do you have any ideas?
How do you step out of your current home, into a local “competition” for the place, and succeed while staying in your present neighborhood?