Tag: Renters

Exit Clause for Abused Renters Debated in Pennsylvania House Committee

The Center Square

Legislation offering an exit clause to renters subjected to domestic abuse is headed to the floor of the Pennsylvania House of Representatives, despite concerns that the proposal could cause unintended harm to landlords.

Under the bill, renters can break a lease on a property shared with an abuser after providing written notice to the landlord detailing their experiences and concerns. Police reports, medical notes, arrest records, protection from abuse orders, and documentation from the state’s Victim Advocate Office also suffice as notice.

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Vacancies Skyrocket as Renters Abandon the Market

Pennsylvania Daily Star Staff

Elevated rental prices are pushing apartment vacancy rates up, following a pandemic-related housing boom, the Wall Street Journal reported Tuesday.

The price of apartments has risen 25% in the past two years, driven by a combination of inflation and rising demand as young workers sought to enter the rental market following the release of COVID-19 vaccines in the first half of 2021, the WSJ reported. In the third quarter, demand for apartments, as measured by one-year change in unit occupancy, is at the lowest level since 2009, and vacancies rose from 5.1% in the second quarter two to 5.5% in the third.

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Apartment Demand Drops to 30-Year Low as Renters Lose Confidence in the Market

Pennsylvania Daily Star Staff

Apartment demand in the third quarter of 2022 dropped into the negative for the first time in 30 years as many renters have lost confidence in the market due to economic uncertainty, according to RealPage analytics.

Rental markets boomed at the start of 2022, but Q3 data shows a 1.0% increase in apartment vacancies despite a 0.2% month-over-month asking price decrease in September, RealPage reported. Weak rental numbers, despite the first month-over-month asking price drop since December 2020, point to a general economic uncertainty among renters who have adopted a “wait and see” mentality, the outlet reported.

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Lack of Affordable Housing Remains a Problem in Pennsylvania

The Center Square

Housing shortages and rising rents are a national problem, and the process for building more housing, especially affordable housing, is only one of many barriers.

In Pennsylvania, rents have increased mainly in the southeast and central parts of the state. As The Center Square previously reported, a report from pro-housing group Up for Growth estimated Pennsylvania has underproduced 98,000 units of housing. Statewide, rents increased by 14% from 2020 to 2021.

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