The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1901-05-01
TINE QUESTION OF RENTS.

Years 81 experience in older cont
munitics has demonstrated the fact
that house rentals cannot be forced
up beyond a certain point without
causing large numbers OF tenants TO
resort 60 home building.
Il Is natural for the landlord 70
ssek the largest possible returns
from his investment. but business
prudence suggests moderation in de-
mands. lest his tenant. feeling the
burden og rent too heavy, shall lock
about him for means ~ relief.
In seattle there has been curious
evolution Of conditions, Affecting
landlords and tenants. For some
years. during the great depression,
rented property dld not bring fair
returns and ia many cases. caused
the owners actual losses. Then
came the revival ~ several years
ago and a brisk demand ON the part
81 renters. both Tor business houses
and homes. The landlords adVanc-
ed rents SIN the demand con-
tlnucd. Why not make up for lack
q profits IN past years ~ soliluauined
many prop Fty owners. We VIII
raise rents agaln-"
And up. az. up went the rents. To-
day they ara. tn many eases. Tar
above the normal
And what have tenants ben do
ing BUILDING. t'p. up, NJ ~
the houses. thousands OF them. ana
the signs 10 let are beginning 10
appear hgre and there on rented
houses.
one OF the most significant features
% the building boom r. the inereas-
ing number Of cheap houses IN course
% construction. In another column
the star gives comparative figures
for April Is03 and April 1901.
which conclasively tell the story. A
LARGE Class OF TENANTS.
ARE NOW EMBABKfNG IN
HOUSE BUILDING OPERATIONS.
PUTTING Up STRUCTURES COST
ING LESS THAN 500 EACH
SIMPLY To ESCAPE PAYING
HICH RENTS
A Few DAYS ago the star had
It's attention called 90 one instance
where four families were domteilsd
IN one tw8-story frame house u
fair appearance. each family paying
Sc a month. making SIS FOR the uss
n s3.e9a unfurnished frame build
ing on a lack street. II Is safe %
ray that two OF three % those four
families viii begin home building op-
erations a. soon a. they can get
funds tagsther
The time has come for the land
Herds Of Seattle % take hold q the
situation from a business standpoint.
T-NLFss RENTS ARE SOON RE-
DUCED TIE SUPPLY OF HOUSES
WILL EXCEED THE DEMAND.
One other feature % local e0ndi-
lions e apparent In the downtown
business community. Merchants are
complaining that their store rentals
are too high. During the KIoudike
and Nome rushes. when all sorts 81
money was % b. had for the ask
ing. merchants paid without protest
the increasing rentals asked by Ia nd
lords In the case Of one well known
retailer. ne found his rent tripled
without notice and PAID IT. Its
pretty tough" he remarked. hut |
guess III stand H."
There is no great Alaska rush this
spring. az compared with the rush
e. Of previous years. Trade ~
healthy and strong. but thousands Of
strangcrs are not throwing cash
about them pr0rniscuously. Condi-
tons here are settling oown to those
Of the best Of prosperous cities IN the
East and South. The boom Is over
and the day for boom rentals f. past.
Let the landlords realize this fact
now. and put their rentals d0ggr N
a basis which wfli compare favorably
with the basis Of rentals IA other
prosperous communities.