Staunton's rental market is still chaotic, but some phone calls might minimize the headache.
STAUNTON — The effects of inflation can be felt by everyone, but renters in Virginia are facing record-breaking rent increases. The average rent in Virginia increased 11.3% in 2022's first quarter, according to CoStar.
All anyone has to do to feel the effects of the increased rental market is open up a social media platform like Facebook. In Staunton VA's Facebook page, 11 people have posted about searching for rental properties in Staunton since July 1. A quick search on Facebook Marketplace showed five rentals ranging from $750 for a one-bedroom to $1,700 for a four-bedroom. One was a private room for rent, three were houses and one was an apartment.
When people post online asking about available rentals in Staunton, the typical price range they list is $800 to $1,000. The median rent in Staunton is $1,250, with a $300 month-over-month change, according to Zillow. On top of price increases, renters are having to fight harder for potential rentals with the increase of competition.
The amount of renters in the U.S. who plan to own a home has "dropped to an all-time low," according to Virginia Realtors. The Federal Reserve recently found that 43.3% of renters in 2022 expect to eventually own a home, which is down significantly from 2021's 51.6%.
Looking for a rental? Experts say to contact local property owners.
According to Realtor.com, contacting a local real estate agent or broker might be your best bet of finding something in your price range since many either own rental properties or know people who do.
Staunton and Waynesboro are small enough localities to where prospective renters can find landlords who own multiple properties with a good reputation with renters. Once you find that person, the path to the right apartment or house might be much easier.
Speaking from personal experience, I did not have any luck finding a place to live in Staunton until I started contacting real estate agents and brokers in the area. When calling, I simply asked if the agent had any rental property or knew of any that were about to come available. This was a life-saver in the crazy rental market. I found my apartment because my now-landlord was about to have a vacancy and she had not advertised for it yet.
One of the best ways to start is by searching rentals that are currently on the market or just went off and contact the owner or rental company to see if they have any units that will go on the market soon.
Shannon Harrington, a local broker and rental property investor, said she gets Facebook messages and phone calls from prospective renters multiple times a week.
"There is a real shortage," Harrington said about the amount of rental properties in Staunton. Harrington is all about helping applicants, but when reaching out she emphasized the importance of providing plenty of information for the agent to work with.
For example, if someone sends a message like, "Hey! I need a place to rent." is much less likely to get a response than someone who says, "Hi. I am looking for a place to rent between August and September in downtown Staunton. I'm open to a one or two bedroom and I have one cat."
Harrington had an apartment become available a few weeks ago and within the first day of the listing, 30 people applied. In a case like this, she likes to look through the applicants who weren't selected for the property and put them on a waitlist, as long as all of the applicant information was properly filled out.
"I don't think you can keep up with the demand," Harrington said. "I think that you can do your best with the amount of space that you have to work with."
Time is the biggest factor, Harrington said, while acknowledging that not everyone has that luxury when searching for a new place to live. There have been instances in the past where someone who is on a tight timeline reaches out to Harrington and she's been able to refer them to another agent who has something available sooner, and vise versa.
If you're searching for rental properties and aren't having any luck, here's a list of real estate agents and companies in Staunton.
— Katelyn Waltemyer (she/her) is the government watchdog reporter for The News Leader. Have a news tip on local government? Or a good feature? You can reach Katelyn at kwaltemyer@newsleader.com. Follow her on Twitter @Kate_Waltemyer.
This article originally appeared on Staunton News Leader: Renting in Staunton is still chaotic, but connecting with property owners may help
