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Posted 7 months ago

MORE about stretch code and 3 deckers

Another great 3 decker article.

I have to agree with Mike DeLuca on this one.

The costs to convert old houses to electric is substantial, even with a gut renovation it might be $30k more than traditional heating/AC systems.

What does this do?  

Well, as mentioned in the article, if the cost is borne by a non-profit who can afford to keep the rents low, then those tenants can benefit from the improved house.

But in reality, owners of buildings need to make a cost benefit analysis and the more $ they put into the house, the more they need to charge in rent.

So this eventually raises rents for the tenants.

Some might go as far as to say that owners should not even improve their buildings, because when they do it ultimately raises rents.

You will probably have seen that rents go up like crazy over the past 5 years.  A lot of this is attributable to new owners who have come to the city and improved properties.  They need to get a return on their money.

This has in turn caused a rising tide that lifted the prices of all 3 deckers, and in turn all rents.

This electrification movement will serve to further improve the quality and value of Worcester properties, and in term Rents will continue to rise.