The Rent's Too Damn High

[Bill Call]

No, actually, the rent is not high enough.

There is a strong demand in Lakewood for rentals. It's time to raise the rent.

Of course, the increase in rent should be used to finance improvements in your property. The best improvement is a high efficiency furnace. Your tenants will save a lot on utilities which will make them more likely to stay. That saves you, the owner, a lot of money.

If you feel the need to add aluminum siding spend the extra money an a quality design. An attractive rental is easier to rent.

[Michael Deneen]

If the rent isn't high, then demand for Lakewood properties is not as high as civic boosters would have us believe.
If the demand were indeed high, landlords would jack up the rent...either to pocket the profits in a short-term money grab, or to invest in their properties.

I remain convinced that Lakewood still has too many rentals...urban sprawl and a flat regional population will dampen demand...even for a "hot" suburb like Lakewood.

[marklingm]

If the rent isn't high, then demand for Lakewood properties is not as high as civic boosters would have us believe.

If the demand were indeed high, landlords would jack up the rent...either to pocket the profits in a short-term money grab, or to invest in their properties.

I remain convinced that Lakewood still has too many rentals...urban sprawl and a flat regional population will dampen demand...even for a "hot" suburb like Lakewood.

Someone took an economics course ... and paid attention!

Nicely done, Mike.

I think Bill is just forecasting a rent increase for his tenants.

Matt

[Peter Grossetti]

If the rent isn't high, then demand for Lakewood properties is not as high as civic boosters would have us believe.

I love the fact that Michael used the term "civic booster" (which I have not heard since I last read Sinclair Lewis' "Babitt;" his classic 1922 satrical novel about culture, society, behavior in the middle-class American life ... and the pressures of conformity.)

[marklingm]

If the rent isn't high, then demand for Lakewood properties is not as high as civic boosters would have us believe.

I love the fact that Michael used the term "civic booster" (which I have not heard since I last read Sinclair Lewis' "Babitt;" his classic 1922 satrical novel about culture, society, behavior in the middle-class American life ... and the pressures of conformity.)

The man went to Northwestern University, Peter!

Mike is highly educated.

But does he know his alphabet?





Matt

[Bill Call]

I remain convinced that Lakewood still has too many rentals...urban sprawl and a flat regional population will dampen demand...even for a "hot" suburb like Lakewood.

That's true. It's also true that Lakewood doesn't have enough of the right kind of rentals.

There is strong demand for modern apartments in the area. All along Detroit and Clifton there are substandard apartment buildings that could be replaced with more up to date buildings.

But that's not going to happen for several reasons.

1. The City of Lakewood isn't really interested.
2. Ed Fitzgerald's economic policy is to starve the City. Our City leadership is unwilling to challenge that policy. While millions in subsidies are available to downtown and Crocker Park Lakewood is ineligible for those subsidies. The County's development policy does nothing to bring new residents to the area it just spend billions to move people around.
3. Ed Fitzgerald's policy is to subsidize downtown, subsidize sprawl and starve the middle.

Lakewood is in the middle.

One of the confusing aspects of Lakewood politics is that our Mayor and council remain silent rather than challenge economic policies that do so much damage.

Imagine Lakewood officials walking down the street picking up garbage and planting flowers. Then imagine County officials following behind ripping up the flowers and dumping cans of rubbish along the way. That's what we are faced with.

The City is doomed.

[marklingm]

One of the confusing aspects of Lakewood politics is that our Mayor and council remain silent rather than challenge economic policies that do so much damage.

Bill,

Really?

Do you really think that Mike Summers will ever bite the Fitz! that feeds him?

Fitz! owns Summers.

When Fitz! tells Summers to sit, Mike sits.

When Fitz! tells Summers to rollover, Mike rolls over.

When Fitz! tells Summers to beg, Mike begs.

You get the idea.

And, for those who disagree, prove me wrong.

Matt

[marklingm]

Imagine Lakewood officials walking down the street picking up garbage and planting flowers. Then imagine County officials following behind ripping up the flowers and dumping cans of rubbish along the way. That's what we are faced with.

The City is doomed.

Bill,

We are not doomed - in spite of bungling City Hall leadership.

We have great residents, which is the bedrock of our outstanding community.

By the way, I can't imagine City Hall folks walking around Lakewood picking up trash or planting flowers ... because they haven't ... excluding campaign photo shoots.

But, I can imagine City Hall watching the County trash the 'Wood ... because they have.

Matt

[Scott Meeson]

One of the confusing aspects of Lakewood politics is that our Mayor and council remain silent rather than challenge economic policies that do so much damage.

Bill,

Really?

Do you really think that Mike Summers will ever bite the Fitz! that feeds him?

Fitz! owns Summers.

When Fitz! tells Summers to sit, Mike sits.

When Fitz! tells Summers to rollover, Mike rolls over.

When Fitz! tells Summers to beg, Mike begs.

You get the idea.

And, for those who disagree, prove me wrong.

Matt

[marklingm]

Scott,

Yeah, yeah, yeah
Yeah, yeah, yeah
Yeah, yeah, yeah

Matt

[Bill Burnett]

[quote="Bill Call"]
There is strong demand for modern apartments in the area. All along Detroit and Clifton there are substandard apartment buildings that could be replaced with more up to date buildings.
[/quote]

On one hand you are railing against modern development along Detroit Ave like Bob Evans, Drug Mart, McDonalds etc but now you are advocating tearing down old apartment buildings with their affordable rents and old world charm and replacing them with modern buildings which will be so costly so as to have rents over $1000 to give the owners a return on their investment. Nobody in their right mind will make the investment of demolition and construction to only charge $500-$600 rent. Smh

[Bill Call]

There is strong demand for modern apartments in the area. All along Detroit and Clifton there are substandard apartment buildings that could be replaced with more up to date buildings.

On one hand you are railing against modern development along Detroit Ave like Bob Evans, Drug Mart, McDonalds etc but now you are advocating tearing down old apartment buildings with their affordable rents and old world charm and replacing them with modern buildings which will be so costly so as to have rents over $1000 to give the owners a return on their investment. Nobody in their right mind will make the investment of demolition and construction to only charge $500-$600 rent. Smh

I wasn't opposed to the Bob Evans or McDonalds I just thought other development ideas that included modern apartments would be better. Just as I'm not actually opposed to the new Get Go I just think modern apartments would have been better.

The market disagrees. One of the reasons Lakewood is doing well is that for the most part we have let the market decide. The implication of that is that my idea of demolishing 40 or so 4 suite apartments and displacing 320 people is a bad idea.

Maybe so.

On the other hand a series of new apartments that replaced them would house 1,000 people with more disposable income which would mean higher tax revenue and more customers for Lakewood's retail. Such a development could compete with downtown apartments and increase the demand for housing all across Lakewood.

Of course all of those downtown apartments receive millions of dollars in taxpayer subsidies. Lakewood is not eligible for those subsidies.

County development policy is to:

Subsidize downtown

Subsidize sprawl

Starve the middle

Lakewood is in the middle.

[Jim O'Bryan]

No, actually, the rent is not high enough.

There is a strong demand in Lakewood for rentals. It's time to raise the rent.

If you feel the need to add aluminum siding spend the extra money an a quality design. An attractive rental is easier to rent.

Bill you are exactly right on this. Lakewood has once again, through some alignment of the stars, and minds and advertisers at the Scene, been selected as the best place to live, and
the place with the best schools in the region. This is the cornerstone of "Location, location, location," and we should be ready to capitalize on it. No amount of economic development outside of 40story sky scrapers will ever bring to the city what the RESIDENTIAL NEIGHBORHOODS DO. Our industry, just as it has been for a century is homes, residents, and giving them exactly what they need to enjoy their home lives.

As such, we should be able to ask astronomical prices for our property, but we are lagging
in many areas, and the business sector, always the ugly stepchild of great homes and schools
seems to have attracted those that refuse to see the beauty and dollars in great safe clean
neighborhoods, instead pumping millions into our "miracle 8/10ths of a mile," aka
DowntowN, Lakewood Ohio. For the last ten years a majority of all funds we could use on
residents, homes, neighborhoods, etc. have been pumped into 11 blocks of retail, that
should have been a SID (Special Interest District) all along. This would enable the actual
busineeses in that area to seek grants, financial help, and dispensation. But instead, the
city and the civic leaders decided to risk our neighborhoods and residential area while they
focused everything on it. Today, it is still needing the help of residents to stay afloat with
the amazing amount of face lifting it got, while homes rotted, affecting our rents.

A friend of mine just moved here from Cleveland. Excited to move back to Lakewood, but
what they found was both disturbing and a real blackeye on this wonderful city.
"Everywhere we looked was not worth the rent people were asking." The place we settled
on was $750, and still needed to be cleaned, needed drapes, the back shared hallway
was filthy and needing painting, and the landlord said, it's Lakewood what do you expect?"
Well what we expect is the same high standard that it would seem others have in us. That
we can ask for the big rents, but only after we clean up the rentals.

Councilman, David Anderson and I have rentals on the same street. Both get big dollars,
and both have tenants that have been with us for years if not decades. It is because we
rent property that people are dying to get in. I have a list of renters looking for the house
as they saw it, and wanted it, but missed it last time. Quality, clean rentals in clean safe
neighborhoods, where people grow into and assimilate with the community.

OK is Lakewood's glass half empty of half full?

It is 90% filled, so instead of desperately trying to get visitors here, who normally end up
drunk, arrested or in trouble, how about for the next decade we concentrate on the real
industry Lakewood is number one in? LIVING! Let's allow the business areas to cool off and
fend for themselves, and now let's finally wake up City Hall to the future of Lakewood, and
the one thing that really makes Lakewood great, its residents!

.