Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-12-08
THB CITY,
RENTS IN NASHVILLE.
vitality Important Considerations
as Affecting the same
Property Owners, Tenants, etc, etc.


the comfort and encouragement of very
large and useful class of population, and
the general prosperity Of the city as well;
thew should be so arranged and regulated
as TO be mutually protective, profitable and
agreeable.
The first of January, then, being the
time when the changes Of tenantry will
take place, as heretofore, and but few
weeks intervening when that time is upon
us, we propose offering few practical re-
marks upon the subject of rents, as being
pertinent to the season, and of general in
terest TO all classes of our city readers.
Approaching the importance of the slb-
ject, We have given 10 it more than ofdi-
nary attention, and although our investi-
cations have led Us into its details, our re-
marks win be of 3 general character.
In no city IN the country, with, perhaps,
the single exception of Atlanta, Ga, have
rents been less fixed by established rules,
and regulated by settled prices than in
Nashville during the last ten years. This
has been owing in part to the war, which
disturbed everything, individual as well as
social economy. Immediately after the
war property went up to fictitious values,
attributable in part to the depreciation
of the currency of the country,
and in part to the great expectations
of Utopi1n dreameTs. For the year 1866
rents were very high, and all kinds of lesi-
dences and storerooms in active demand.
For 1867 they were huctusting and M
steady, owing to the feverish and unsettled
condition of our social and political sur
roundings For thu year 1868 the aggre-
gate of rents we're high aud disproportion-
ate to assessed valuation Of property and
the taxes upon the same. Large houses
that were then rented for 81, 1000 could
now be procured for 81 500. Ia 1869, or
for that wear, rents became more settled,
but we've still. especially for tho larger
class Of houses, too high. And yet, at ths
close of that year, property owners, M
fortunately for themselves and tenants,
looked forward to 1870 for higher rents.
We know of a number Of families, CON-
posing. too, those Of our best citizens, who
removed from houses they had long Occu-
pied on account of this increased demand.
What was the result? The same houses
remained no uncomfortable part Of
the present year, Just closing, unoc-
cupied, and when they were rented it was
at less figures than the former occupants
had paid and we can point to some of the
very houses to-day labeled for rent, and
which could be had at much lower figures
than were offered by good tenants one year
ago in preference to the annoyance OF re-
mOval. and which was refused. These re-
marks have more especial References to the
| llrger sized, centrally located residences.
| Is this the part of wisdom? Will the eN-
| pertinent Of 1869 be repeated at the close
| of 1870. Just here We venture few words
| to property owners. We desire that they
get all they can for their property, but at
| the same time we kindly suggest Ihst they
| lock we'll to it that they do not, IN asking
| too much, lose what they might actually
get and what tenants are able and willing
| to pay, Let it be borne in mind that the
| swift footed GODDESS Atalanta lost the race
because she stopped to gather golden ap-
| ple7. It is a fallacioas rdle to graduate
| rents according to the cost of buildings
| and property, which when improved
or purchased, may have involved
exorbitant sums. Such rule may exclude
| good and prompt paying tenants. Reflect
| II the present value of your house be ; no.
| 600. n rental Of al COO brings you 10 per
| cant and so on in the same ratio for houses
valued at sums mora or less than SO, 900.
end 10 per cent is more than your legal
rate of interest. This subject of rents in
wolves the prosperity of the city; it IN
. wolves the price Of labor; it involves the
price of articles of daily consumption; i
involves the inducements of hundreds to
locate in our midst, and it involves the
success of the well-tO-do man Of business,
with family and but moderate means, OF
but moderate income from his avocation
4 rrTaII d-
fhe lsboring man and the mechanic. They
each and all have to graduate tbeir mode
Of living to the income of their labors
The rising man OF business with family
much as he would love the sweets
of home will resort to boarding
or be driven from gfhe city before ne
can pay rents beyond what Is Justlnet
by his income. 1t is not well that thos'
who have means invested in good houses
should let them remain empty and thos'
means useless because the right class
!. teeuents cannot afford to come up to thsl
figures. The outlook of the property hold
or should be broader and more embraclv'
, than one of purely selfish interest he
who comfortably ensconced in his mansion
, | kasns hanging in view the keys OF vacan
bouses. the inner walls of which are be
| coming widowed and filed with cobvebs
| and the hinges Of whose pannelled door
. are rusting away, refusing offered remit
: | ressonableto the times, proportoned {
! values. and to the means Of good tenants
is no wiser than the snail in the Hindo
4 maxim that sees nothing but its own she
: and thinks it the grandest palace ID IN
universe.
} The large number o. ths elai
| of houses referred to TO- rel
. throughout the city makes these remark
r eminently suggestive and time
: They are all over the city, and In th
+ most eligible localities. They can be see
: ON Summer, on Church, on Vine, on 90
= lepe. on Cedar, on South High, on all tn
:. streets and in the suburbs. On Cher
> street from Church to Broad streets, thel
: are no less thar five of those large re-
u denees marked with the label ''for rent
/ This is the renting season. Now, II eve
IS this class of houses are to be rented
II 1871. The rents on this class Of hous
l has a tendency decidedly downward III
le fact it is needless to disguise. The d
ID nand for such houses is not SO great as
1t WAS one and two years ago, and Of cour'
N the price must be proportionste to the q
az mand. Those owning this class Of hcus
ia would act wisely by availing themselves
m | the first reasonable offer to secure go
10 | tenants.
" Tbis view of the case will be fully
w nreoiated when we state from unqueshC
Al ed observation, that there are now In {
ne oity and in Edgefeld over four hundl
q. boIses for rent, and that an unusua
or large nroportion of them are the kind
houses indicated.
al Let it not be argued from this that thu
el is a falling OF of business, q decrease
it nonulation. Far from If. Many persc
its have removed 10 the suburbs or to
" conntrv who do business here, to av
6s bigh rents and hundreds are boarding fr
loo | the Same cause. AS regards the cl
- Of bouses we have been consid
~ inc those that rented for 81, 200 last ye
- can be now had for 81 600; those that rem
=. for s., 400, at 81, 200, and 80 on WITH
u' executions. varying according to locate
y those within radius Of from 20 70
IN minutes walk Of the center Of busln
ne being most desired. This class OF hou
w which are for rent arc much more plei
ate full than they were one year ago.
be For Souses of from three to hve roo
tell renting for from 800 to 5000, there Is
it. unlimited demand, far greater DEM
an than has ever been noticeable befc
= There is great scarcity, the SUPPLY NJ
II ing like coming Up to the demand, oil
itb kind of houses. Reliable gentlemen,
ND have been for years in The business OF
, ing, selling and renting houses, said e
u" Yesterday 'If we had three hund
!, bouses suited to the wants of small famll
ms renting at from four to six hundred dol
'als ve could rent them every one before
ose morrow's sunset" Our city is lamenti
l deficient in this class of comfortable, n
an cheap, residences. Their erection is on
l the highest considerations ofour capital
wv, Anvn1mber of them could be readily rel
esis with profit to the owner and to the 8
Il -,oI kananta and IN