The times. [volume] (Richmond, Va.) 1890-1903, 1890-07-27
MORE ROOM WANTED.
REMAND FOR HOMES GREATER
THAN The SUPPLY.

situation which Would be heme"''"
on-ralks with Persons In
,,, the Question In Roth Ways
improvements
Homes in Richmond for working people
,rd for pcople in moderate circumstances
are. scarce. .,
Houses in that portion Of the city known
NJ the Central district are rented as soon
NJ completed, If not sooner
n the old ones are vacated the argus
c,od bonsc.huntcr is Keeping wary WATCH
and will at once make terms win the "S'"'
for the rental Of the same.
ont on the suburbs or in localties aO"ul q
mile from the pOstofhce the SITUATION - "r'
much better. Houses are hhuet'".c,'
rented when vacated, ana an lh' iV'' 49,, 80
mon agree that there are not enough houeCS
in the latter locality ior h'"
ing into Richmond. III,
rbcrc are a great many Of these people;
Richmond being large city, the lhHuN oI
several hundred new people m lhIee OF l UuI
months making their homes here, u noilc,u
Lut very little. But as these people nave ~
secyrc homes, the real estate mn
become better acquainted WIN &
stains oil AIlAllNs I h'
of fhe peOplc are an WHAT nay
he termed moderate circumstances ana
mole excellent citizens. The rents oeinE
Co. bioh in the central portion, their ohlY
hone j. some distance away from lhc MAJ
Of trade. Thus il j. that houses are IeulCu
rs soon as they are erected, ana IL II w!
often the case that houses are engaseu DC
fore the roof j. put on 49,, 49,. ,.o,,,
By all laws Of business. values are com
- hon inc ltilIUu -
greater than the supply. and IN no business
II Richmond is that fact better estaullshc"
than i'm dwelling hORscs. OF course, lheIc
are many large houses that can DC rch'u,
I'm, the smaller ones. about six or cighl
rooms. are the ones in demand. and such IN
Ncstments will prove 10 bc prohiaDic ones
The best solution Of the problem, however
is the extension of the city's limits by lhlN
move a great many houses could he bulll ON
what is now the suburbs, and the tenants
could get the benefits Of gas, wafer pohce'
and lire protection. ..,
From talks with real estate men II was
CLEANED Yesterday that 10 real estate MIN
mond would be very active ihls lalI' 'hat
she was awakening 10 her new era vi
progress. and tina before the year lo'l eN
celent developments would Oc haue
throughout the city.
several were asked yesterday w my Ien'N
were so high in Richmond: and If the clty
limits were extended, would such move
create better renting rates for tenants.
Following are some Of the replies received
SUTTON co.
If the city limits were extended the rents
would b. lower, as capitalists would puma
more houses The main reason ! thlnh.
that rents are so high Is that houses
are scarce Such houses as VIII
rent from $500 10 500 are imme-
diaiely rented as soon as they are
buili. IfbOuses like these were built on the
suburbs. people would soon get accustomed |
10 living out there and a great many more
would be built. If this was done, rents
would then, think, be lower.
CHEWING a ROSE.
I do not think the rents Of the city are
very high. All property pays the owners
good dividends. but there Is nothing eNces-
siye about the rents. There is great
scarcity Of houses centrally located ana
houses thus situated have steady renting |
figures. and steady demand IS made for !
them. our capitalists 5 should build
more houses. aud invest more OF
their money in Richmond The building |
Of houses that will rent from $500
10 $500 in Richmond is paying investment |
at all times. People are constantly moving
i'm the city, and want Just such houses, ana |
very frequently there are more applicants |
than houses. You can readily see that |
such a state Of affairs tends 10 increase the |
rent Of the average city dwelling
MIR. 4. h. GUIGON.
The reason rental values in Richmond are
So high. is, in my Judgment, because, until |
the last year or two, capitalists here nave
felt no confidence in Richmond's progress |
and have sent their money elsewhere ior |
investment.
Ii il a noteworthy fact that until of late |
there were only two or three Richmond men |
who owned half dozen houses each, OF
any sort. Now that Richmond capital has |
shown disposition 10 follow the example |
of foreign capital and eXpend Itself
in safe and profitable Improvements |
here. think we may safely |
anticipate fuller supply OF 'slraOle
houses for the working people and those III
moderate circumstances, with consequent |
influx of population, Skill and capital II,
however. our city limits are reasonably ana |
wisely extended. We need more space
and with extended city limits on all sides
wherever the city's growth shows the need |
Of extension, we will shortly have full ac-
cOmmodation for our rapidly increasing
growth.
HARRISON AND POWERS.
The demand for several months has been
greater than the supply for houses of six TO
eight rooms. \ great many people want
houses centrally located, but even AT dls-
lance from the centre of the city II Is oilcn
hard to find such houses There - great
deal OF money waiting for the man VINO VIII
build such houses not mile from the post
Office. With this state of affairs, YOU can
readily see that rents must necessarily Zee
high in Richmond. They are ten per cent.
higher than i'm Baltimore, and the high price
is. / think. more due to the lack Of progress
siyeness than to the abundance OF II.
X. Il. CIAFFIN co.
We do not think the rents in Richmond
high. Property only pays lis owners about
per cent, and we think that is the only |
gauge of the rents OF houses. Niddlc-sIed /
houses, centrally located, rent torabOui $500
TO 500 a year. The land ON winch |
these houses are situated COSTS about |
$50 foot Now, when YOU use |
up a thousand dollars worth OF
land, and spend two thousand in building |
a house. Won have 10 make that house pay |
YOU from three to four hundred dollars, or
YOU don't make Is per cent. les, we thlnk
il would Dee "A great accommodation II more
such houses were built, but we do not think |
rent would decrease any.
ANOTHER REAL ESTATE MAN.
do not care TO express my opinion on |
the subject through the newspapers. bu 1
my private opinion is this: The tenants oil
Richmond are TO blame. Many OF them |
have very loose household methods, and the |
servants they employ are equally SO,
consequently the property is not taken
care of. Property owners are continually |
complaining about this, and the rents are
necessarily high, 10 pay the owners back for
money expended in repairs. \ tenant |
takes a house, lives in it two or three years, |
and when he gets out the owner has 10 spend |
almost one years rent IN repairing II suih-
ciently % make il presentablc TO some pos
sible tenant.
A CITY COMMITTEEMAN.
Land in the central portion of the city, OF
course, costs great deal, and If the rent of
the houses upon such land is any criterion |
of the rent that should be paid, | do not |
think the rent very high. II YOU will come |
over on Church Hill you viii ind |
splendid homes at very reasonable |
cost. ON the western suburbs you can find |
"A great number also, but the city, think, |