Soaring rents are nothing new to Steamboat Springs, but with some of the most affordable housing options such as Mountain Village Apartments and Flower Mill Apartments raising monthly rates, it’s making the town more affordable to enter. reasonably priced housing options may exist. A thing of the past.
Mountain Village resident Kaitlyn Morris recently learned her rent had gone up by $400.
Morris shares similar stories with many other nomads who have decided to make Steamboat their long-term home. I moved to Steamboat and worked as a host at Hazie’s Restaurant for Steamboat Ski and Resort Corporation.
Morris moved into a shared room at The Ponds at Steamboat, the resort’s employee housing estate, which has long served as an important base camp for seasonal workers from around the world.
When Morris first left The Ponds, she returned months after the property she rented had been sold. And she said in 2019, when Morris and her two friends were approved to sign a long-term lease for her three-bedroom apartment for $2,300 a month in Mountain Village, stability was within reach. It looked like it was in It is a popular property for those who are moving or moving from municipal housing.
“I couldn’t believe I actually got this place,” Morris said. “We said, ‘We have the money, let’s sign it. It’s ours.'”
Morris no longer works at the resort. She started her own cleaning company, Spring Cleaners LLC, but after covering her rent and other expenses, she said she made only a few hundred dollars in savings. rice field.
Morris’s rent at Mountain Village will rise to $2,500 in 2021, and Morris and her roommate were recently told by other tenants that if they terminate their lease in October, their rent will increase by another $400.
Morris said her boyfriend will be moving out soon to offset the rent increase, but the price hike still hurts.
“Me and my boyfriend were like, ‘Why are we still here?'” Morris said. “If they pull up again next year, that’s probably the end of it.”
Despite the increased price tag, Morris said Mountain Village still feels like her only option.
“We’ve searched, but it’s impossible to find anything that’s cheaper, allows pets, is available, and isn’t taken away the moment it’s posted,” she said.
Also popular as entry-level housing options, Flower Mill Apartments and Main Street Apartments began renting earlier this year after being acquired by Birge and Held, a private equity real estate investment firm based in Indianapolis, Indiana. I raised the price. Assets are $4 billion.
“They raised everyone’s rent by $300 or $400 per person,” said Emily Gerde, who manages tenant relations for Ski Town Commercial, the former owner of the Flour Mill and Main Street apartment complex. rice field. “Everyone under us has moved elsewhere.”
Gerde said her company charged studio apartments between $1,400 and $1,600, depending on how recently the units were refurbished, but under new owners, studio rates in both complexes were about $1,900. said the dollar rose. All utilities were also included in the previous owner’s price, but soon tenants will be charged a flat utility bill of $175, she said.
“It used to be a hotel room. It wasn’t weighed individually,” says Gerde. “The new company just randomly and arbitrarily calculated how much it would cost to pay for utilities on top of rent.
Gerde accused the new owners of not renovating or cleaning to justify the price increase, and of not having contact with the tenants.
To substantiate her claim, Gerde said the Main Street Apartments website has pictures of mountains that Steamboat doesn’t even have. She was referring to a photo of her Bells Maroon near Aspen posted on the “Nearby” tab of the website. “Residents are also close to Quarry Mountain, which offers unparalleled views,” she writes.
Gerde said the new owners have only hired one liaison to address tenant concerns.
“Probably one liaison in about 200 units,” Gerde said. “I mean, he’s incompetent and can’t keep up.”
Gerde said several tenants she knows have reported the new owners and are considering legal action.
The Property Managers of Mountain Village, Flower Mill Apartments and Main Street Apartments did not respond to questions from Pilot & Today prior to the printing of this article.
Jon Wade, co-founder of The Steamboat Group, says the rising cost of steamboat rentals is fundamental supply and demand.
“Of course it benefits me, but I don’t enjoy it because it makes it harder for the locals,” Wade said. That’s why we are special.”
Wade said wages at Steamboat are rising, but rent growth is outpacing that. He credits housing projects such as the Yampa Valley Housing Authority with expanding the Steamboat inventory. brown lunchshould help the Steamboat housing crisis.
Soaring property and casualty insurance premiums are also impacting the overhead costs of renting a home, according to State Farm insurance agent Dax Mattox. You want your policy to cover the full cost of rebuilding in the event of a disaster.
To contact Spencer Powell, call 970-871-4229 or send an email to: [email protected]