A Tough Rental Market Just Got Tougher
by Cari McGee on October 15th, 2009. Filed under: Richland Real Estate.Apartments are at close to 100% ocupancy, and rental houses are few and far between all over the Tri-Cities. Richland seems to hard hit especially because people want to live close to work, and most renters are here to work out at the Hanford area or at one of the associated business, all of which are located in Richland.
Word came today that the Richland Housing Authority’s Section 8 funding, provided by the federal government, is being pulled, as are the HUD-supplied vouchers.
What this can mean is detailed more here. The basic point is that money usually provided to the city of Richland to help house people, has been removed. That’s not good news.
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October 16th, 2009 at 9:11 pm
We sold a duplex to a client who had a section 8 tenant in one of the sides. Our client stopped receiving payments from section 8 and was forced to evict the tenant. The whole section 8 fiasco is certainly not a good thing.
You are spot on in regards to 100% occupancy. We have a few investment properties and one was available to rent. We were inundated with requests at the rate of 20 inquiries per day.
November 11th, 2009 at 2:24 pm
WOW your apartments are at close to 100% occupancy, in Richland. Thats pretty crazy. It must be extremely tough for anyone looking too rent.