Currently, my primary client wants me to automate portions of her property management company. To learn more about the business and her strengths, I am working as her assistant as I shadow companies who have automated various aspects of their property management company. What is surprising to me is the gap in affordable housing. I was shocked to discover that nearly half of all renters can’t afford rent.
I routinely speak with potential applicants who struggle to meet the requirements of the housing market. One potential applicant began looking for a new place to rent four months ago. In a week, her current lease ends and she’ll be forced to go on a month-to-month lease. Another had hoped to buy but the rising home prices and the bidding wars pushed her out of the market. So, she’s struggling to quickly find a suitable place to rent for her and her grandson.
Both individuals have a clean criminal history, solid employment history, and are rebuilding their credit. Yet, our housing market is making it impossible for them to choose a better home, a better neighborhood, a better foundation for their children.
Lower credit scores comes with higher interest rates, higher deposits, less supply, and often lower quality. Safe housing is a right, not a luxury. Yet, in today’s economic times so many builders, investors, and policies seem to be more concerned with profit and luxury.