How corporations in Utah rental market drive up cost of living

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How corporations in Utah rental market drive up cost of living
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In so many ways, Utah law is more favorable to landlords than renters, but there are some legal options for those who choose to rent they should know before signing a lease: natecarlisle

SALT LAKE CITY — Spencer Bloodworth opened the cabinet with the fire alarm and other utilities to show where mold had been growing.

Ash is among those who believe corporate owners and managers are a factor driving up the cost of living as they control a big share of the rental market in Utah. Fees are just one way corporate landlords do business differently than moms and pops, said Angela McGuire, a board member at People’s Legal Aid, who has studied corporate rental ownership in Utah. Such companies employ software and other tools to figure out what they can charge.

Across the complex and upstairs, Karissa Valenzuela Nelson and her partner rent a two-bedroom apartment. By the time rent and fees are added, they usually pay $2,100 a month.She explained how the complex groups utilities like gas and divides the total among all residents — even if some tenants burn less gas than others.

Salt Lake City-based Preserve Partners bought the Kensington in 2019. Preserve’s website says it owns about 20 other apartment complexes.

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