There are many things that can come about when looking for or living in cheap apartments in Stockbridge GA. Is the building you are living in or looking for a rental unit in on a business’ watch list for demolition when the time is right? Many builders are buying up premium land, demolishing the houses or apartment complexes on that plot of land and then building a large, obnoxious home on the property. Or, they build a larger apartment complex that has 1,000 new apartments and can now house two to three times more families than the original building previously did. This is where greed sets in and the tenants are vulnerable.
This purchase of land and buildings for destruction depletes the amount of rental units available for people to live in on a temporary basis. It may take 12-18 months to complete the required phases of the construction. It also increases the rent for the available units that the displaced renters are looking to rent. When the vacancy rate is low for apartments the need for any apartment coming open goes UP. Sometimes it requires building new units which eventually will come at a much higher price due to the cost of materials, license and permits and a competent construction company to build the building or buildings.
There are people who choose to live in cheap apartments in Stockbridge GA, located in the inner city; for them it is more than likely they will pay much more then someone who decides they want to rent something further out in the suburbs. The bottom line is the price for an apartment is growing exponentially on a daily basis due to the current lack of available units. The law of supply and demand is in full swing at this point with supply driving costs up.
For arguments sake, let us say you would like to rent a 2-bedroom, 2-bath apartment, approximately 1,000 square feet, in Stockbridge’s Inner City – it could cost up to $1,500 a month for a plain apartment; after you have paid the first and last month’s rent for the security deposit. Perhaps there are other features the units come with – a secure building with a front desk attendant to control access in and out of the building. Perhaps there is a pool in the common area of the building that requires routine maintenance and being properly closed for the hard GA winter that tacks on another $150 to the rent.
Perhaps you want the apartment in a high-rise building – well, the price for the view is now added to the original rental cost, so now you pay $2,000 or more for the exact same size apartment, just with a view.
Basically what happens is that current rental tenants have absolutely no leverage when the amount of available rental units decline, landlords can charge more for the units that are already rented out. Unfortunately, there is no such thing as rent control in regards to cheap apartments in Stockbridge GA area.