Apartments for Low Income

Questions and Answers

Your Questions About Apartments For Cheap Rent

May 15, 2013

Michael asks…

How does rent control work to help some people and hurt others?

other than rent control, what could a city do to help people who can’t afford it

Administrator answers:

Rent control only helps those people who are already renting. It hurts everyone else– land lords and also new people who want to rent.

It’s the law of supply and demand.

There is a huge demand for cheap apartments, but no incentive to supply more of them because the land lords aren’t getting enough money to profitably build more apartments.

In areas where there would be no new apartments because the land is already built up, it means that people who want to live there and are willing to pay a premium price to live there have almost no opportunities because so few people are leaving the low rent-controlled area. So you can’t even get an apartment if you tried.

And you have people who take advantage of the system, where you have a “renter” who never moves out, but secretly sublets to someone else for more money. Who makes the profit? The “renter” who doesn’t even live there anymore!

With normal supply and demand, the turnover is such that supply and demand equal out at an appropriate price for both parties.

What can cities do to help people with low income… They usually have housing vouchers where the city pays part of the rent. It’s called Section 8 housing.

Joseph asks…

Would it be better to rent a cheaper apartment or pay for a house with a larger payment?

Right now me and my fiance rent an apartment for 830, would it be better to keep renting or purchase a 100,000 to 120,000 dollar house for 850-1000 dollar payment?

Administrator answers:

Well you have to weigh out the options. Would you rather pay $830 a month to someone else and at the end have nothing to show for it or would you rather pay $850-$1,000 a month and at the end have a house that is yours and you can sell it when you want to move.

Buying a house is the best way to go in my opinon.

Maria asks…

How to rent an apartment in Vancouver for 3 months?

I’d like to go to Vancouver for a 3 month holiday but can’t seem to find a place to stay. I can’t afford to spend $100 a night on a serviced apartment but regular apartments require a minumum lease of 6 months. I have around 2000 canadian dollars (£1300) to spend a month.

Any Ideas?

Administrator answers:

Suburbs cheaper some motels have monthly or weekly rates

Paul asks…

What if an apartment has lowered the rent a month after you move in?

When the manager rented the apartment to me it was $1140 now they are running ads for the same apartment for $1090!

Administrator answers:

It’s no different than if you buy a condo and a week later an identical unit in the same building is being sold for cheaper.

William asks…

What are some good areas in Washington to live?

I live in Missouri. And I need to LEAVE! I love Missouri but I have lived here literally since I was a baby and I am going to be graduating soon, and what are some nice but cheap areas to rent an apartment in Washington.

Administrator answers:

Lots of jobs in Renton. A beautiful area though is Sequim, where I grew up.

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