4 ms·
> We just canceled our lease two weeks ago. We had a large apartment in one of the new high-rises in Downtown LA. > The last offer was 3 months free and 2 park
by wiether 6y ago
> We just canceled our lease two weeks ago. We had a large apartment in one of the new high-rises in Downtown LA.
> The last offer was 3 months free and 2 parking spaces free if we stay for 12 month lease, which comes to 34% discount on the rent including parking.
That's weird how everytime I discover something new about "free market" in USA, I'm glad to live in Europe.
Having to negotiate your lease like you would with a bag of apples seems insane to me since rents are regulated as are drops or increases in an occurring lease.
- doh 6y agoI'm originally from Europe. I do like that I can negotiate better terms than the market, but I also acknowledge that this is not better system for everyone. The benefit of the US system is that higher rents create more incentive to produce more supply. It sometimes breaks down, like it did in SF, but in DTLA this worked well. Developers smelled opportunity, build bunch of new apartment buildings and we were able to lower our rent by 35% just within 14 months. If the market was regulated, then no new supply would be produced as there is no incentive to do so.