45 ms·

I'm guessing the freebies are to avoid lowering the actual rent due to Prop 13?

• deleted 6y ago
  [deleted]
• doh 6y ago
  If I'm not incorrect this doesn't apply to newer properties. Generally it introduces more complexity in the process so tenants can't easily share and get outraged by different rent levels, because everyone is "paying the same". So if you rent is $3k/month but you don't have to pay for 2 months, you are still going to pay $3k. Additionally once the lease is up you are starting with $3k baseline rather than $2,500.
• gkop 6y ago
  I think you mean rent control, not prop 13. Anyhow this commenter sounds like they know what they're talking about and are saying that landlords in SF cannot beat rent control in this manner: https://socketsite.com/archives/2020/06/complimentary-rent-on-the-rise-in-san-francisco.html#comment-394729 https://socketsite.com/archives/2020/06/complimentary-rent-o...
  • shostack 6y ago
    Ack, you're right, I did!
• hellisothers 6y ago
  The value of commercial (ie 4 or more units) rental property is calculated directly from the rent it can command and you can find yourself upside down on a loan I’d your rent dips too far. This is also why you’ll find places would rather have vacant apartments than lower rent too far.