There’s a century home on Water Street in Peterborough that was, until recently, an affordable place to rent — about $1,000 apiece for a three-bedroom or a four-bedroom unit.
For more than a decade, it was owned by a family who rented it to university students and others. But over the years, the house wore down — and the owners decided to sell.
In came the Avanew Single Family Rental company, the only bidder, who snapped up the home for close to $550,000. They put in new hardwood floors and spruced up the dated kitchens. When it was put back on the rental market, one of the units was listed for $2,500 — more than double the original rate.
This seems grotesque. It probably is.
