Price for rent continues to soar across the Coast
GULFPORT, Miss. (WLOX) - If you’re having a tough time finding a place to rent right now, you’re not alone.
The demand is up, and prices continue to soar across the coast.
Mississippi Coast Property Management is receiving over 300 calls regarding rentals every day.
“We get calls so much so that we’ve had to hire a call center to help take on the calls because there’s only three of us here in the office,” owner Tiffany Marshall told WLOX.
Marshall has been in business in Gulfport for more than 15 years.
She said over the last two, she has watched the rental rate increase 17%.
Nonetheless, she is still receiving about 50 applications for each rental property that becomes available.
“Rentals that I had renting for one price are now renting for $3-, $4-, $500 more because there’s so many people that need that rental,” she said.
It’s the same for agents at BSRI Realty & Property Management by Kelly.
“It is insane to watch,” Kelly Northlee said. “I’m like a whiteboard person. And so, every time I go and erase and have a new tenant and we increase the rent, I mean, I’m not increasing it $50 or $100 like normal; I’m increasing it hundreds of dollars.”
On Wednesday, the average price for rent on the Coast is $1,850, which is about $100 higher than last week.
According to Northlee, the most sought-after location is Ocean Springs.
“I recently sold my house,” she said. “But if I were to have rented it out, I would’ve gotten double my mortgage payment.”
Both realtors Marshall and Northlee urge you to reach out to a professional if you are looking for a place to rent at the moment.
Amid the moving market, they also advise you to be cautious of scams.
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