Morgan County tenant expresses frustration in increasing rent prices
MORGAN CO., Ala. (WAFF) -The prices of rental properties in Madison and surrounding counties are skyrocketing. With landlords renewing leases with higher prices, residents are forced to choose between renewing and paying more, or moving out.
One Morgan County resident who wishes to remain anonymous claims they are looking at an increase of $200 if they renew their lease.
“My first year there was $700, then my second year there under new management it was $795 and now with this renewal, it went up $216,” says the resident.
Inflated rent is happening all around the community. David Edwards with Hamlett Property Management broke down the numbers over the last few years.
“As of right now, we have 191 homes being offered in Madison County. The average price is $1,939. That’s an increase of $185 on average from the calendar year 2022,” Edwards says.
Edwards blames rising property taxes and insurance rates for the rising rental prices in the counties.
“We’re seeing the price of the taxes, the insurance and also the cost of make-readies. People are spending more for painters, more for carpet, more for laminate flooring. We’re seeing a lot of that in this new reflected price,” says Edwards.
Edwards also factors in the rapid growth of Huntsville and the surrounding areas.
“The population of Huntsville is growing so much. With an abundance of people, you’ll find people wanting to pay the higher price,” he claims.
But this resident is stunned by the increase.
“Everything is going up. Prices are going up everywhere. That’s such a huge increase of 25%. It just took the breath out of me,” the resident says.
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