There are no stats (that we know of) for just how many Columbia SC renters become homeowners because they love their pets too much to give them up, and often renting is not an option for pet owners.
Approximately 8 million animals end up in shelters each year, and moving-related issues are among the most common reasons for giving up a pet. In an American Humane Association survey of 93 shelters across the country, "Moving" was the most common reason given by owners for relinquishing a pet, and "Landlord won't allow" was the fourth most-common reason for relinquishment.
Columbia SC Renters With Pets Having Trouble
A new survey by website Apartments.com found that 72 percent of Columbia SC renters surveyed said they are pet owners; a slight dip from 75 percent in 2013, but still much higher compared to just 43 percent in 2012.
The majority of pet-owning Columbia SC renters faced some difficulty finding an apartment that allows pets.
The most popular types of apartment pets cited by those renters surveyed in 2014 are: Cats – 41 percent; Small Dog – 39 percent; Medium/Large Dog – 34 percent; Other (Fish, Bird, Small Mammal) – 13 percent.
Being a pet lover can cost you. The survey found that more Columbia SC renters are being asked to pay for the pleasure of having a pet. Close to 80 percent of respondents said they were required to pay a pet deposit, up from around 60 percent in 2013. This year, just over half of Columbia SC renters paid more than $200 annually in pet deposits and monthly fees. Since the cost of renting with a pet adds up, Columbia SC renters searching for the most value in their next apartment may want to ask about what specific pet amenities are included within the building and its individual units.
Many Columbia SC renters are turning to home buying because of the increased difficulty and expense of renting an apartment or condo with a pet included in the lease.
If you own a pet and are finding it tough continuing to rent, contact us and let us help you find the perfect home for you and your pet.
After the U.S. housing collapse there was an increase in both rental demands and prices. The higher Columbia SC rental prices are making it increasingly difficult for low income families to afford a home. A new study shows a renter in many areas has to earn at least $19 an hour to afford a decent apartment. CCTV's Yakenda McGhahee reports…
Columbia SC rental prices have, in many cases, made owning a home more affordable than renting a home, but one also has to consider other factors when trying to decide if owning is cheaper than renting. A renter won't pay taxes or homeowner's insurance, but at the same time, a renter doesn't get the tax breaks a homeowner does.
Call us for a no-obligation consultation on Columbia SC rental prices as compared to Columbia SC home prices, and what it would cost for you to get into the home of your dreams now, before prices and mortgage rates rise much further.
The Columbia SC rental market saw rents increase over the past year while home values were decreasing. In some locations, rents are up just as much as home values are down. As contradictory as this may sound, this is actually good news for the Columbia SC housing market.
The slow rebound in the Columbia SC housing market makes renting a good option for many. Former homeowners looking to recover their financial stability are joining new renters on the hunt for their first apartment and long-time tenants facing rising rental costs.
Columbia SC Rental Market Will Stimulate Housing
While it may seem that rent is rising at the expense of home values, actually the opposite is true. A strong Columbia SC rental market will stimulate home sales. The market is spurring investors to purchase distressed inventory to convert to rental properties, which may help bring rents back down as investors buy up the low-priced real estate inventory.
If you happen to find yourself being forced into the Columbia SC rental market because you are unable to qualify for a conventional mortgage, there is one piece of advice we’d give. That is, be sure to buy rental insurance.
Rental insurance offers an affordable form of protection from a range of hazards, from theft to fire damage. While you’ll need to sift through insurance policies with a fine-toothed comb to see what protection will and will not be included, rental insurance is a good bet, especially when it can cost as little as $10 per month.
If you’re thinking the Columbia SC rental market has now gotten to the point where owning is cheaper than renting, give us a call and we’ll sit down with you and run the numbers for you to see which makes more sense for you. Or, feel free to leave us a comment here and we’ll get back to you with answers to any questions you may have.