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I'm curious if rents have gone down for existing tenants or just for new leasees.
by jxramos 6y ago
I'm curious if rents have gone down for existing tenants or just for new leasees.
- nostrademons 6y agoAnecdotally (Sunnyvale) I didn't see any offers to drop our rent to match what new tenants were getting, but you can always hack that by moving. Hell, maybe a bunch of 124,131 change of addresses are people moving internally to take advantage of reduced rents. (FWIW, offering 1-2 months free rent seems to be much more popular than actually reducing rent, too.)
- jxramos 6y agofor sure, I remember back in college days we'd play the pass the buck on the tv/internet account from one roommate to the next to secure the sign on deals and discounts. Makes sense.
- dbt00 6y agoI'm in the south bay too and I haven't seen as much as a dropoff as SF. I'm definitely anchored here with schools etc for a few more years and most of my neighbors are too. The folks I know who have been out of the area are mostly going to second houses in the Tahoe area, not moving permanently.
- panopticon 6y agoYeah, housing prices in the south bay have been solid/trending upward throughout all of this. Lots of good deals on apartments though.
- kelnos 6y agoIt's been mixed. One of my friends had a landlord that wouldn't budge, so he and his wife moved to a new place (larger but with the same monthly rent, and with the first few months free). But I've heard from a couple others who asked for and got rent decreases. Unclear if their landlords were thinking about that more as a COVID hardship decrease, or a decrease reflecting the new, lower market rates.
- iancmceachern 6y agoOur building just handed out rent decreases, unsolicited. I've heard similar from others. Ours was a 10% discount, ive heard of up to 30%.