Rather than reporting on the city's housing issues from the bureaucratic heights of cold numbers and statistics, this story is one of a single real estate deal in a single city that is, apparently at the same time, growing into and out of itself. And it also became a metaphor of sorts for Salt Lake City's housing crisis, where rental vacancy rates are at a scant 2.5 percent, homelessness is on the rise and because housing demands exceed supply, prices are soaring. The sale of the SULA, a name that no one seems to know the exact meaning of (Dick believes it could be an acronym for Single Unit Lease Agreements, while Robyn likes to think it is a term for a water bird), sent a wave of change through the lives of many who called the place home. And his daughter, Robyn Raybould, 62, who has acted as de-facto maintenance manager for years, has long been looking forward to the day when she could move out of state to be closer to her grandchildren.Īnd so, by the accident of age and time's relentless passage, the Rayboulds sold their proud building last summer, a building where, for the past two years, I have lived with my family. It has been a decade since Dick, 88, has been permitted to stand atop a ladder and perform maintenance work on the building. His brother would accept the building as payment for the debt only if Dick agreed to rebuild the burned-out apartment-a challenge he accepted, and one that earned him an ownership stake in the building and a long career as an accidental landlord and maintenance man. Water remained on the floor, and it needed to be rebuilt, which is where Dick fit in. 66 had been charred by fire sometime that winter. In January of 1974, Dick's brother told him that he was owed $10,000-an amount that could not be paid in any currency besides the seven-unit, red brick apartment that has, since 1909, been anchored between First and Second Avenue.Īpartment No. in the Avenues neighborhood of Salt Lake City. In addition, folks are encouraged to utilize the United Way's 211 helpline or reaching out to your local legal aid society.It was by accident that Dick and Jean Raybould came to own the SULA apartment building at 60 E St. is up more than 7% in the last two years, with the average rent now sitting at more than $1,500/month.įor those looking for rental assistance, counties such as Cuyahoga and Lake County are using millions of dollars in funding to help renters. recently unveiled data suggesting the median price of rent in the U.S. "People will just pay any price without seeing the apartment," she said. In many cases, Steele said apartments are being signed by tenants sight-unseen. There’s no options and if there are, they’re expensive."Īt Ellet Park Gardens, Steele told News 5 she's fielding about 80 calls and 50 emails a day from people inquiring about their 83-unit complex, which doesn't have an opening until October. "Like nothing I’ve ever seen," Ellet Park Gardens property manager Gina Steele said. Several landlords and property managers told News 5 they're seeing a shortage in available units, similar to what's happening with housing inventory. Issues in the rental industry extend beyond just the ability to pay monthly bills.
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