After renting a $2,000 penthouse apartment, you have to pay back the full $2.1 million you paid for it.
The city of Huntsville will not refund your money.
If you rent from a company with a low rent-to-income ratio, the city will reimburse you only if your rent is $500 a month less than the rate of inflation.
If your rent was $1.4 million, your landlord will refund you only for the difference.
“In a lot of these cases, you don’t have to worry about it,” said Scott Besser, a property manager at the Huntsville office of the nonprofit organization Housing Works.
“We’ll get reimbursed for that.”
Huntsville, like many large metro areas, has a vacancy rate that’s significantly lower than the national average, and this is largely due to the city’s small size.
But, because it has fewer than 100,000 residents, the amount of people living in Huntsdale, Alabama, is roughly the same.
Huntsville has also found that landlords are willing to lower rents because they are able to take advantage of low interest rates.
The average rent for an apartment in downtown Huntsville is $1.,000 a month, according to the Huntsdale Real Estate Board.
That means the average Huntsdale renter is paying a $3,400 monthly rent.
However, Huntsville also has an average rent of $1 a month more than the average in Huntsland, Alabama.
This is why Huntsville and other cities are struggling to find new apartments to rent out.
In a recent survey of nearly 1,000 people, nearly 90 percent said that they are considering moving out of Huntsdale.
A study published by real estate brokerage RealtyTrac in April found that Huntsville’s rent is “a big reason why the Hunts Valley is getting so much flak.”
“We have been seeing the same stories about people leaving Huntsville,” said Michael Stolzer, vice president of real estate at Realty Trac.
“People have been leaving for a variety of reasons, and we think the trend is a lot more common in the Hunts area than people realize.”
In the past, Huntsdale has been known for having a strong job market, which is what has prompted people to rent there.
However now, with Huntsville becoming a tech hub, many Huntsdale residents are worried about how they will get a decent paying job if they want to stay there.
“The number one concern for many people is that if they don’t get a job, they can’t afford to pay the rent,” said Stolzier.
“There are so many people out there that are on fixed incomes that are looking to get a foothold in Hunts Valley.”
The Huntsville Housing Authority has set up a new online form to help people who want to pay their rent on time.
In addition, the Housing Authority is providing information about its website and mobile apps.
The Hunts Valley Renters Union, which represents renters in Hunts, is working with the Hunts-Madison Development Corporation, which owns the Hunts Tower, to provide information about what happens if a renter leaves.
“It’s really important to understand that, as a rencer, you’re not really stuck with a rental agreement for the rest of your life,” said Brian Rupp, a member of the union.
“You have the option to buy a home, a car, or an apartment, and then you have the opportunity to go out to your city or region to get the job.”
Rupp said many of his fellow renter would rather stay in Huntsworth or the surrounding area than move.
“A lot of them just want to keep living in the city and they want the best for their children and grandchildren,” he said.
“But they also want to get out of the city, get some quality work, and go back to their hometown.”