PLANTATION (CBSMiami) – Charlie McClain has lived in his townhome nearly five years. Yearly Rent increases have been reasonable until now.
“I was in the office and was told to expect a 20 to 30% increase. That’s insane. I walked out,” he says.
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McClain says he’s paying $2,550 a month but such an increase would mean his rent would go up by more than $500 a month.
He’s gotten rental assistance from Broward County in the past, and was in the process of applying again. But before that was settled he got a letter saying his lease wasn’t being renewed.
“I’m a single dad, but I’ll do what I have to, to keep a roof over my head,” he says.
Broward county has $22 million available in rental assistance to help people who are struggling to stay in their units.
You can apply online at broward.org. You will get an answer in three-weeks time, according to a county spokesperson. But you have to meet income requirements. You must make under $50,800 if you are single and no more than $72,550 for a family of four to qualify.
On average, renters who meet the requirements are getting a total of $8,300 in aid.
The skyrocketing rental rates are affecting thousands of Broward residents.
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Broward realtor Jason Taub says it’s a familiar story.
“Some people are moving north to escape the higher rents and others are considering roommates,” he says.
With taxes and insurance rates rising in South Florida, we asked whether he thought the 20 to 30% rent increases that are becoming common in Broward are justified.
“If someone’s rent goes up $800 and there are 100 units in the building, and the property owner is making that much more money, is it justified? It’s a matter of perspective,” he says.
The pandemic spurring a mass of people relocating to South Florida combined with limited inventory – the law of supply and demand – is fueling some of price hikes. Still, people moving here from New York and California feel they are getting a bargain compared to rents they were paying there.
Taub believes there will be a leveling off of rent increases heading into 2023. But he’s doubtful we will see a return to the reasonable rents of years past.
McClain believes landlords need to be more understanding.
“There has to be a level of compassion so everyone is treated equally,” he says.
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The housing crisis is leaving many desperate for help. That’s why CBS News Miami wants to share your stories to show the crisis you’re in or how you navigated the system. We will highlight these issues and work to get answers and solutions. Send us an email at housing@cbs.com.
