| Show t RENTS TOO HIGH BUILDINGS Realty Men Say Twice as Many Business Places Are Required HOMES ARE VERY SCARCE ADVANCE ORDERS ARE NOW ON BOOKS OF RENTAL AGENCIES That building activity in Salt BaIt Lake I Inot Is not Increasing faster than the growth of ot the tho olty Justifies in h fact that it is nut not increasing naif nIt f ft sat af enough to meet ren rental rental tal taI demands is t beter of ot many local real estate dealers Not only Is Ja this true truo of ot residence re buildings but of DC business structures also Rents in Salt L es business bu lne district are becoming abnormal and conditions unparalleled anywhere in America are developing For instance the lessee of oJ one Main street store site has been of ot offered offered as ae high as premium for the mere privilege of being bing allowed to pay the enormous rent This offer was unda ma e eby by other business men desirous de trous of occupying occupying occupying the location Another lessee ha haa aa i refused a 75 premium for his lease On State street arid azid other less leas le s central cental portions of ot the business buSine s district corre correspondingly correspondingly high premiums are being of offered offered offered with the result resul that the local busi business business business ness rental market baa developed an ab abnormal abnormal normal strength To remedy this it is claimed fully ail aft many maily again buildings In la lathe Inthe inthe the business bu district would be necessary to place the rental market on a normal proper basis Similar conditions are ar growing up la m lathe Inthe the residence sections s Every apartment house now in process of building is said to be rented from cellar to roof JC t those these completed the owners have tenant lists of those these who wish to te occupy apart apartments apartments ments meats as soon ae as a vacancy Vancy ancy is made De be Detached Detached inched houses built for rental purposes are In equal demand and in fact in al at almost almost most every section of qt the city the rental demand is far greater great r than the supply The prospective demand from rs contemplating residence in Salt Lake la laso i iso so 80 great that no matter how big a build building ing lag boom might be b started here tiers nero lf r would be no danger dan dang of ot any structure erected for tor business or residence purposes going untenanted The result of this ever increasing de do demand deOland domand mand Oland naturally entails a big increase In rental values Rates RaWs at present are in Ia must moat cases casa 26 S per cent c ot greater than they were wre five years yv ago In favored section the increase is nearer 60 50 I per pee cent Why Rents Are High Speaking about rents reits Walter G Q Tub Tu Tutie tie of ot the Tuttle Bros company Mid eid yesterday The business section of the town so aa sotar far tar as aa store space te le concerned could be doubled without exceeding the city a needs Fully as aa many ny again apartment houses as a have erected within the thelast thelast last lat year ear or two could cou uld be built In the rest resi residence dence deuce section without being empty The Tha city needs a building boom much bigger than it has ever yet let experienced It Ie would be an utter to exceed the demand It must come and naturally it will come but until the business R sc Ic T tion of ot the city is extended considerably rents will wUl continue to be abnormal In fact in all ail of or my years ear of ot experience in the real reel estate business I 1 have never met with nor heard of such conditions as 8 exist in Salt Lake today re regarding regarding regarding garding rentals The landlords are th the true plutocrats at present Their inde Lade independence independence is II unlimited d The They can boost the rent as often as they desire and still suIt have tenants on 00 their waiting lists The offering of such web immense premiums for tor leases la is ample illustration of this eon con condition ditton In SIn the residence re section the Increase In rents is justified as the general character of apartment houses and homes has haa been greatly improved Ramshackle buildings are no longer seen In n the residence re por poi portion portion tion to any extent ex nt They are being re replaced replaced placed rapidly by modern structures and naturally they are worth more in rents rent Also the general capacity of ot detached homes homet built for tor renting is from two to five fly rooms greater than the general class of buildings of five years ago This wonderful growth of the city Is not temporary judging from the thousands thousands thousands ands of Inquiries from prospective citi citizens citizens zens I have on my lists orders which will not go Into effect until next July so o eager are people pe to 10 secure desirable homes before any further aggravation of ot present conditions Many of our custom customers ers are now residents of other cities and they have ordered mmes hemes several months in advance of their coming here so as ta to te be sure of a location upon arriving |
