Rents soaring around Cincinnati amid fierce housing market

Renting used to be an affordable option in Cincinnati, but rents are now following home prices higher, and some tenants are being priced out.

WE'VE BEENFOLLOWING THE RED HOT HOUSINGMARKET.... WHERE TRISTATE HOMEPRICES ARE UP SHARPLY THISYEAR.BUT IT'S NOT JUST HOMES THATARE CRAZY RIGHT NOW.CONSUMER REPORTER JOHNMATARESE LOOKS INTO SOARINGAPARTMENT RENTS, AND WHETHERTHERES ANYTHING YOU CAN DO IFYOU'RE HIT WITH A RENT HIKE.IT'S NOT JUST HOMEPRICES THAT ARE RISING TOINSANE LEVELS THIS YEAR.RENTS AROUND THE TRISTATE ARE FOLLOWING THEM UP ASWELL.... AND SOME RENTERS SAYTHEY MAY HAVE TO MOVE!---------------BARBARA HILL KELLY OPENED HERDOOR THE OTHER DAY...TO SEE THIS NOTE THAT HER RENTWAS GOING UP, WAYUP."They're crazy!

I saidthere's got to be amistake." HER COMPLEX-- THE VIEWS OF MT AIRY -- ISRAISING HER RENT 875 AMONTH.... MORE THAN ANOTHERHUNDREDDOLLARS."117 to be exact.

Permonth?

Per month!"BUT SHE SAYS HER APARTMENT HASNOT BEEN UPDATED INYEARS."That's crazy, that's12-hundred dollars peryear." SO WHAT CANYOU DO IF YOUR LANDLORD HITSYOU WITH A TEN OR FIFTEENPERCENT RENT HIKE?THE GOOD NEWS IS THEY CAN'T DOTHAT WHEN YOU ARE UNDER ALEASE....BUT WHEN YOUR LEASEIS UP THEY CAN RAISE IT WITHJUST 30 DAYSNOTICE."There is no rentcontrol, so technically thelandlord can raise the rent asmuch as they want to."NICK DINARDO, MANAGINGATTORNEY AT LEGAL AID,SUGGESTS TENANTS USE SUGAR,NOT SPICE, AND EXPLAIN WHY YOUCAN'T AFFORD THEHIKE."What we usually tellpeople is the best thing to doin this circumstance is try tonegotiate something from thelandlord." AVERAGERENT IN CINCINNATI HAS JUSTPUSHED PAST THE THOUSANDDOLLAR MARK ...TO $1,036 ..ACCORDING TO REAL ESTATE FIRMYARDI MATRIX.BIGGEST REASONS, ACCORDING TOTHE REPORT?

-DEMANDFROM HOME BUYERS WHO CANT FINDFIND AFFORDABLE HOMES TO BUY.--RISING MANAGEMENTCOSTS.

--PROPERTY TAX HIKES.CINCINNATI CITY COUNCILMANGREG LANDESMAN HAS PUSHED THECITY TO DO MORE TO STOPEVICTIONS."We have put "Wehave put money into aneviction prevention find thathelps with rental assistance."NOW HE WANTS TO MOVEFEDERAL RECOVERY ACT MONEY TOHELP STRUGGLINGTENANTS."We're going to haveto tackle this city wide, withsome rent support in someneighborhoods." ASFOR BARABARA'S CASE.... ALEASING AGENT PROMISED TO PASSOUR INQUIRY TOMANAGEMENT..."Is there amanager I can speak with?BUT NO ONE EVER CALLED.AND COMPLEX OWNERSELMINGTON PROPERTY MANAGEMENTDID NOT RETURN OUR CALL OREMAIL.

IF NOTHINGCHANGES.... BARBARA MAY HAVETO LEAVE THECITY."I'm gonna have to work,and we're gonna have to save,from now until June or July,tomove."FINALLY, IF YOU HAVE AMONTH TO MONTHLEASE....REALIZE THAT YOU HAVENO WAY TO PREVENT A RENTHIKE... SO YOUMAY WANT TO LOCK IN FOR A YEARSO YOU DONT WASTE YOUR MONEY.JM WCPO 9