Rising Costs for Rental Owners — Please Tell Us Your Experience
By Allen Hebert
We are aware that operating costs have been rising for rental property owners. If you could please answer the questions below, it would help us with our data collection.Approximately what percent did your property taxes increase in 2024?Approximately how much did your property insurance increase in 2024? If you did not increase your deductible, how much would your increase have been? Approximately how much did your water and sewer increase in 2024?There is a push to make rental property owners pay broker fees rather than tenants. Would you prefer to pay these agents to show and rent your apartment in all cases? Where do you see the rental market headed over the next year?How much have your interest expenses increased where a loan repriced?Responding to this message will help us advocate for you when speaking to elected officials on Beacon Hill. Please email your responses to askspoa@gmail.com.
by Allen Hebert
Frequently Asked Questions
What are the main cost increases for rental property owners in 2024?
Property taxes, insurance, water, sewer, and interest expenses are rising for rental property owners in 2024. SPOA is collecting data on these increases to advocate for owners.
How is SPOA helping rental property owners deal with rising costs?
SPOA is gathering information on rising operating costs, including property taxes, insurance, water, sewer, and interest expenses. They will use this data to advocate for small landlords with elected officials.
What specific cost data is SPOA requesting from property owners?
The article asks owners about increases in property taxes, insurance, water, sewer, and interest expenses. It also inquires about potential shifts in broker fee responsibilities and future market expectations.
Why is SPOA collecting data on rental property operating costs?
The survey aims to understand the impact of increased operating costs on rental property owners and inform SPOA's advocacy efforts with policymakers on Beacon Hill.