Toby Leonard wants to reduce rent prices in Mankato
RENTAL PRICES ARE REALLY HIGH!
- Rental Prices are really high in Mankato due to many issues.
- When compared to similar Minnesota college towns Mankato rents are about 35% higher
- Rental market is partially driven by college students
Toby was interviewed on KEYC on Rent Prices
Rental Prices in Mankato are high!
City Ordinances limit supply and increase costs
- City Ordinances reduce supply by limiting rental licenses to 25% of lots on each block
- Licensing department policies create roadblocks to landlords limiting supply
- Licensing department policies create roadblocks driving up costs to landlords, resulting in higher prices to renters
- Licensing policies create roadblocks inhibiting new landlords, while favoring large established landlords resulting in near monopolies
What you can do to lower rents:
- VOTE!
- Petition the City Council to remove the ordinances that limit supply
- Petition the City Council to remove roadblocks that drive up costs to landlords that pass onto renters