For months I have been posting about how the eviction moratorium is killing landlords. Many landlords are leaving the business, on top of that, there is inflation to deal with. The increased costs, increased risk, increased demand, and falling supply has combined with record inflation to put a lot of pressure on rental prices.
So now Orlando area residential rents are seeing the highest rate increases in history. In the last year, rent in the Orlando market has increased nearly 14%. I know that we have seen increases in our costs: insurance, taxes, lawn maintenance, and other expenses have increased. This means that we will be increasing rent on our properties, I just don’t know by how much yet. The increase will be at least four percent, maybe as much as ten. I will know more in the fall. Our next lease renews right before Thanksgiving, so I will know by mid October.