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The Property Owners Have To Make A Decision

Name: The Property Owners Have To Make A Decision
Uploaded: 2023-03-17T21:36:57+00:00
Duration: 43 s
Channel: Ginny Bolling
Description: Excerpt from a YouTube video discussing property owners facing sharply higher costs (insurance, taxes, maintenance, supplies) and the tradeoffs they…

17 Mar 2023 · 1 min

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0:43

Excerpt from a YouTube video discussing property owners facing sharply higher costs (insurance, taxes, maintenance, supplies) and the tradeoffs they make—e.g., dropping wind coverage to afford premiums—and how these pressures force rent increases that tenants resist. The clip highlights the tension between unaffordable insurance and maintaining coverage.

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Some of the property owners have to make a decision, like if I can get a policy without wind for half of what I paid last year, or I can keep everything I have with the wind and hurricane and pay triple. They're having to take the lower because not only is the property insurance higher, the taxes, all the maintenance expenses, all the supplies, and then, you know, for your tenants, you can only raise the rent so much. I mean, comparable to make it all work. So. So they have to really do something. But for insurance companies to want to come here. Exactly. Yeah. And it's hard. And of course, the tenants are fighting the rent increases. They don't want rent increases, but unfortunately, there's no way to avoid it at this time.