Thousands of homes are unlivable after Ida and homeowners and renters alike are scrambling to find temporary housing in a brutal market. Compounding these issues are reports that some renters are even getting tossed out of their homes by landlords looking to do storm repairs.
“The landlords have had extensive damage and it is dangerous for the tenants to remain in some of these properties without a lot of liability to the landlords,” said real estate analyst Arthur Sterbcow. “The owners would love to have them back I’m sure but during these times the tenants are going to have a lot of problems.”
Sterbcow said if you’ve been tossed out of your apartment or suffered catastrophic damage to your house it could be tough to find a rental nearby right now unless you know where to look. He warned short term options are more expensive than usual leases but they are available.
“You can talk to any realtor in a particular market place that they live in and they can find some opportunities for you to move,” said Sterbcow who cautioned that rentals in the hard hit areas south and west of New Orleans are highly limited. “Find the areas that have healed or had minimal damage. It may be an hour long drive to work every day but you just got to do what you have to do, that’s what people did after Betsy.”
Ultimately your best bet in this market is, if possible, just staying on a relative’s couch or in their guest room until the market rebounds. When will that rebound happen? It’s largely out of homeowners’ and landlords’ hands.
“It really is dependent on how well the insurance companies handle these claims,” said Sterbcow who sounded optimistic about the market recovering just like it has in the past. “We are like ants if you kick over an ant pile you come back the next day they have rebuilt it and they are right back where they were.”
