Charging For Utilities: A Renter’s Pros And Cons

Posted by Livable Content Team on Mar 1, 2020 6:00:00 PM

At Livable we create custom utility management and cost recovery solutions for commercial and residential properties, and it seems our expertise is needed now more than ever! It used the be that the “American Dream” was synonymous with homeownership, however, Millennials don’t seem to be putting the same emphasis on buying property as previous generations, thus renting has become more the norm.


There are various reasons for this, from increased student debt obligations to the trend towards delaying marriage and children to simply enjoying the convenience and lack of commitment of renting - the end result is that more and more people that we would typically think of as making the move to first-time homeownership have decided to stay put in the rental market. 


Since 2010, high-income households have become the primary source of rental demand, according to an article published in 2018 by the Joint Center for Housing Studies of Harvard University. These high-income households are also more likely to be college-educated, married, and headed by young adults.


“Young, college-educated households with high incomes are really driving current rental demand” - Whitney Airgood-Obrycki, research associate - Joint Center for Housing. In turn, it’s no surprise that new apartment developments have largely targeted the upper end of the market. The nationwide median monthly asking rent for unfurnished apartments completed in 2018 was just over $1,600.


Unfortunately because of this, the number of available low and moderate-cost units has dwindled. Rents have risen nationally for the past several years and rental vacancies seem to be at an all-time high.


More renters who make between $30,000 and $75,000 yearly now pay more than 30 percent of their salaries on housing. For those who make below $30,000 - the majority put more than half their monthly incomes toward housing costs.


Despite the strong economy, the number and share of renters burdened by housing costs rose last year after a couple of years of modest improvement. And while the poorest households are most likely to face this challenge, renters earning decent incomes have driven this recent deterioration in affordability.” - Chris Herbert, managing director, Joint Center for Housing 


At Livable we can help your renters keep monthly costs down, we are committing to saving energy by monitoring the efficiency of their unit, tracking consumption trends, and making informed decisions to band together for improved sustainability - Book a call today and let the savings begin!


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Since 2020 there has been an increased emphasis on washing and sanitizing, there is a temptation to go overboard with assorted specialty cleaning products. But as this article from Apartment Therapy reminds us, a good all-purpose cleaner, a disinfectant and a glass cleaner can handle most jobs. The author also advocates for discontinuing the use of disposable sponges, mops and dusters. Not only do the repeated purchases of disposable items add up over time, but they can also spread germs and dirt around more easily than rags or microfiber mops and dusters, which can be washed and reused.

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