Monroe County landlord feels the squeeze from record high gas prices
Buzzy Cullum says gas prices, inflation impacts everyone
MONROE COUNTY, MISS. (WCBI) – With rental properties throughout Monroe County, Buzzy Cullum says the double whammy of rising fuel prices and skyrocketing inflation is making it tough for his tenants.
“Right now it’s putting a burden on them when they have to buy extra fuel, normally fifty dollars a week, now it’s 75-80 dollars a week but their base pay isn’t increasing, so it hurts all the way around,” Cullum said.
Cullum has been involved in many business ventures including farming, trucking, and real estate. He has seen ups and downs in the economy and business, but nothing like this.
“At my age, I’ve never seen the economy and the state of disarray we’re in today, it’s a crying shame, but that’s where we are,” Cullum said.
Landlords like Cullum have fixed expenses, there is routine maintenance that has to be performed on rental units, and Cullum says those costs have been impacted by the rise in fuel prices, along with other issues.
“I have maintenance men working on properties, and the parts, when you can get them, we have so much trouble getting replacement parts , it’s a tough situation, not only for rentals but everything in our nation right now,” he said.
Cullum’s son Trey runs Cullum, Inc., a trucking company, with thirty trucks on the road. He says his business is feeling the squeeze every day.
“We are having problems getting parts, parts to tires, equipment, they are blaming it on fuel and the workforce, so we just deal with the daily struggles,” Trey Cullum said.
Trey Cullum believes businesses will be dealing with the effects of rising gas prices for the foreseeable future.
Trey Cullum did say a proposal in Jackson to temporarily suspend the gasoline tax would help in the short term.