The Corporatization of Rental Properties in Grand Rapids
by Jeff Smith (GRIID)
Over the past decade, Grand Rapids has seen a shift in the housing market as it relates to rental properties.First, the cost to rent in Grand Rapids has gone up considerably and in many cases the cost has doubled in the post 10 years. Many tenants we have spoken to have said that they can no longer afford the monthly rental costs, which averages between $800 – $1,000 per month. We are not talking about most of the newer development projects across the city, where rental costs are even higher, we are talking about the cost of rent in neighborhoods that have been around for the past 75 – 100 years. A neighborhood organizer with West Grand Neighborhood, which is on the near westside, said at a Grand Rapids Homes for All event last July that she has seen rent double in the past five years for working class families that can no longer afford to live in that neighborhood.
The second major factor impacting rental properties in Grand Rapids is … https://griid.org/2017/03/15/the-corporatization-of-rental-properties-in-grand-rapids/
Over the past decade, Grand Rapids has seen a shift in the housing market as it relates to rental properties.
First, the cost to rent in Grand Rapids has gone up considerably and in many cases the cost has doubled in the post 10 years. Many tenants we have spoken to have said that they can no longer afford the monthly rental costs, which averages between $800 – $1,000 per month. We are not talking about most of the newer development projects across the city, where rental costs are even higher, we are talking about the cost of rent in neighborhoods that have been around for the past 75 – 100 years. A neighborhood organizer with West Grand Neighborhood, which is on the near westside, said at a Grand Rapids Homes for All event last July that she has seen rent double in the past five years for working class…
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