The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-08-01
Real. Estate
SHIFT OF RENTERS
Proposed Advance in Rents Sept.
Causes Many to Prepare for J
Moving.
Rental Agents Say the Advance Is
One Of Necessity Not Of
Choice.

Because rental agents feel compelled to
advance fiat and house rentals after Sept.
l. there is bright promise Of great shift
ing of Minneapolis renters this fall. Many
tenants are already getting ready to move. 4
Two general tendencies are noted by
local real estate and rental men. The
tenants of down town flats, which cost
from s35 to $50ia month, are getting ready
to move farther out where they can get
the same amount Of room for less money,
or they are getting ready to go into
smaller flats. Flat dwellers are also go
| Ing into the house owning business as the
best means Of saving money a
.'It Is a matter Of regret to u.s. said
| Walter Il. Badger, that the impression
| has gone abroad that there is com,
bine' on among the rental agents to
squeeze tenants by raising prices. There
| is no combine on. and while the rise in
| prices beginning Sept. will be general
it is simply the result Of an economic
condition. as the continued demand for,
| both flats and. houses demonstrates.
Last winter our expenses, sas agents
1 for fiat buildings were greatly increased
over those of. the year before. Our coal,
for instance, cost us twice as much. This
year coal is going to be almost as ex-
| pensive, 1t Is already going up and the
signs Of further increase are before us.
eve are simply agents and have either
| to show a margin Of profits for our princi-
pals or explain the reason. If we show
a deficit at the end Of the year and show
no increase in rates, there is bound to be
l complaint from the owners Of the prop
erty.
knowing this full we'll we are COM
PEELED to increase the rentals Of flats all
the way from five to fifteen per cent.
There is no arbitrary rule. We are try
ing as far as possible, to suit the increase
to the condition Of the market, and the
tenant.
Zone result Of this promised increase
is much grumbling, which Is generally
stilled when the tenant has made in
quries and has found that the conditions
demand the increase. At the same time
many tenants are preparing to move into
less desirable locations where the same
amount Of room may be had for less
money. altho there may be some incon.
veniences attached to the new quarters
Real estate dealers and agents also re-
mark upon the increasing popularity Of
the small hve-room fiat The little two.
/ story fiat buildingc which are springine
, up all over the city and in which fla
} can be rented at from s25 to $50 a month
are becoming very popular and are prov
- ing profitable investments. The combina
ton building where apartments Of almos
any size can be obtained are also much II
demand.
The raising Of rents for flats has ais
largely increased the number of home
\ owners In the city-Fa condition We've
\ with enthusiasm by those who make it
! business to talk the city's best points
Instead Of paying from $35 to $50 for
fiat, many men Of moderate means ar
buying small homes. On time and the de
e mand for places at from 81, 900 to $4,o
is reported by dealers as being surpris
IS ingly large.
;, There Is little doing in a big way 1
- Minneapolis real estate at this time, an
to this class 81 busfness, which is Of tt
o. sound sort