09/01/2026
We are so grateful for SCBIZ publishing a piece by SouthLand's founder and CEO, Nancy Baldwin, on the reasons for our soaring rental housing costs and ways that landlords, renters, and even local governments can help the housing situation.
Here's an excerpt from the beginning of the piece but don't miss the advice she offers landlords, renters, and local governments -- more at the link.
"For the past fifty years I have worked in the rental housing industry, beginning by renting out the other side of a small duplex that my husband and I owned and where we lived. I slowly added rental housing properties as I was financially able, focusing on the neighborhoods in Greenville that I had known and explored as a child. From those early days, SouthLand Properties was formed. We remain local and independent, with forty condos and duplexes catering to a wide variety of housing needs and costs.
I have heard an old proverb that says “The sun at home warms better than the sun elsewhere.”
I do believe that. Offering quality rental properties that can become homes of comfort, safety, and peace is something that has been a passion of mine for many decades. Housing is, for me, not only a business, but also a calling and a mission.
From that perspective I have watched the struggles in the housing industry that we — tenants, prospective home buyers, home owners, landlords, and more — are all experiencing with interest and some dismay. Are there solutions to the issues confronting the housing industry, particularly the high costs?
What drove up housing costs?
Some of the drivers of housing costs are baked into the cake. The federal moratorium on evictions during the pandemic was overturned in August of 2021 — but that meant that some small landlords had no rental income for a year or more. In other states such as California some small local landlords had to go without rent for two years. Inevitably, landlords had to raise rental prices in order to recover sometimes dramatic, business-destroying losses. The eviction moratorium was especially devastating to the small, independent, locally owned housing companies like SouthLand. By the grace of God, not a single one of SouthLand’s tenants missed a month of rent payments.
Inflation arrived as well. The significant increase in living costs, coupled with job losses for so many, decimated some people’s ability to pay rent or buy houses. Inflation also exponentially increased costs for landlords. From 2020 to 2025, for instance, SouthLand’s regime/HOA fees (our largest expense) increased by 30% and taxes (our second largest expense) increased by 16%. Over a similar five-year stretch, from 2019 to 2024 our maintenance expenses increased by a whopping 53%.
In response to inflation, the Fed raised interest rates, so the cost of home buying went up dramatically as well.
In the meantime, certain areas of the country like Greenville County experienced significant increases in new residents which led to housing supply shortages — and wherever there are supply shortages, the cost of the remaining supply always rises.
All of these factors dramatically raised the cost of housing. From a global perspective, the two factors that can eventually contribute to lower costs are a reduction of interest rates and certain other costs, such as fuel and shipping costs.
How can we improve housing opportunities?"
How South Carolina landlords can help lower housing costs