4 ms·
No, I'm not forgetting that. In my experience, most market rate units turn over every 2 or 3 years. 15 years in sf apartment leases are unusual except for peop
by MAGZine 6y ago
No, I'm not forgetting that.
In my experience, most market rate units turn over every 2 or 3 years. 15 years in sf apartment leases are unusual except for people who cannot afford to move out.
If you assumption, as a landlord, is that the next person into your unit isn't moving for 15 years, then yes, the cost calculation moves. However, that calculation is very different from a 7 year calculation, which is very different from a 2 year calculation. So how much are you going to hedge against not losing money in the future, when you're losing concrete money right now?
- cnst 6y ago> 15 years in sf apartment leases are unusual except for people who cannot afford to move out. I'm a little confused here. If your rent is 1.2k for a 2bd in SF (because resident since 2000s), whereas market rate for a 2bd now is 3.9k in SF -- what is your determination -- is a person able or not able to move-out? Why would anyone move out every 2 to 3 years if they're rent-controlled, and they'd have to pay significantly more for any new place? Likewise, if you've been owning a property since the old times, and it's fully paid off, the property tax liability in Cali is tiny, and for older owners perhaps entirely a wash-off due to infamous Prop 13. Which is part of the reason that many owners don't even bother renting their properties.