4 ms·
If development in the area is a bad thing, then it's definitely NOT being imposed on the landlord. If development in the area is a good thing, then the value a
by pchristensen 8y ago
If development in the area is a bad thing, then it's definitely NOT being imposed on the landlord.
If development in the area is a good thing, then the value accrues to the property, which benefits the landlord, leading to increased rents. The renter has to decide if the benefits from the development are worth the increased rent, and this will vary by person.
- lovich 8y agoNot if they're developing more supply of rental units. I'll give that this doesn't play out in practicality in a lot of places. My own neighborhood is currently constructing enough apartment buildings to double the number of units, but our rent still went up. This however is a function of such pent up demand. Nearly half of my coworkers have an hour+ commute and most of them would be love to move closer to the city if the pricea dropped, and that will only happen if more units are built. A 1-3% increase in available units probably won't do anything but change local neighborhood prices, but a city adding 10%+ in units everywhere is going to drop their average rent costs