OPINION & EDITORIAL
Finally, a renters’ market
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Also by Badger Herald Editorial Board:
- A security fee-for-all (December 11, 2007)
- Farewell, Chancellor (December 10, 2007)
- $$FC (December 6, 2007)
- In a bind (December 5, 2007)
- Entitlement Town (December 4, 2007)
Related Stories:
- Hit me, baby, one more time (November 17, 2004)
- Exclusionary zoning (February 24, 2005)
- Zoned out (November 16, 2006)
- Landlords price out UW students (October 29, 2007)
- City-student dealings need improvement (February 7, 2003)
by Badger Herald Editorial Board
Thursday, November 6, 2003
For the first time in recent history, UW students may be able to smile a little when thinking about rent for the upcoming year. The infusion of new student apartments downtown has led to a saturation of downtown housing and an anticipated decrease in rent prices for next fall.
It’s about time that students have the upper hand (even if only slightly) in Madison’s rental market. Low housing availability in recent years created a rental market where landlords dictated the prices and services students received. Since Wisconsin does not have rent-control laws, landlords have been able to increase the rent they charge each year at their own discretion.
Students have been paying exorbitantly high rent to live in dilapidated buildings supervised by landlords who are unresponsive to student needs and maintenance requests. These unfavorable circumstances have generally led to frustration on the part of students while thickly lining the pockets of many area landlords.
It seems as though all of this might finally change. An increased supply of housing, largely due to the construction of several new apartment complexes in the downtown area, is forcing landlords to lower or stabilize rent to remain competitive.
In what City Council president and downtown alder Mike Verveer calls a “renter’s market,” students may finally be entering a housing situation that leans in their favor. Landlords will be forced to invest an adequate amount of time, money and maintenance into their rental properties to entice students to rent from them.
We encourage students to take advantage of this situation. Students have long complained about the high rent prices and lack of housing in Madison. With an increased supply in housing, students can finally demand the level of service and attention they deserve.
