SPRINGFIELD, Mo. – People renting apartments are running into limited availability and prices on the rise.
Across the Ozarks, it’s affecting people who just moved here and those who have lived here for years.
That includes Andrea Taylor and her family, who have lived in the same apartment for a few years now.
Taylor said she’s seeing the price of rent start to creep up each term.
“It stayed the same for probably like eight years, the last couple of years it’s gone up just a little bit, then it was about 50 dollars last year so we’re waiting to see if it goes up even more than that this next coming year.”
Apartment property managers in town said there’s reasons behind the increases.
“All of my insurance fees have gone up this year,” said Bob Shattuck, who owns properties for rent near Missouri State University’s campus. “We know property taxes are going to go up. Just miscellaneous fees. Energy costs for just the building itself are up, as well.”
Shattuck said they’re running out of availability quickly and the key is to sign early.
Others echoed the same concept.
“If you hesitate and come back, that apartment won’t be available later in the day,” said Brandi Morris, Owner and Property Manager with Professional Property Management Company. “Quick decisions and reserving is the key. We have wait lists for most of our properties and have for months. The last five days of the month and the first five days of the month are key windows of time for renter decision making.”
MSU student Liliana Hayes said she started looking for the apartment she’ll move into this August, back in November.
“By the time I got there, all the three-person rooms were already filled up,” said Hayes. “It was November, which I thought was insane.”
She said she looked early to have more options and at a cheaper rate.
Property managers and residents in Ozark said it’s the same story.
Owner and occupant of a duplex in Ozark, Greg Scott, said a lot of people from various states are deciding to move to Ozark.
Scott said they’re renting and purchasing homes sight unseen.
He said people are also renting while waiting to purchase homes, with the current housing market like it is.