4 ms·
This comment is spot on. Rent premiums are often not greed, but just a risk premium and buffer-collection for a catch all of issues from future non-payment to o
by TuringNYC 6y ago
This comment is spot on. Rent premiums are often not greed, but just a risk premium and buffer-collection for a catch all of issues from future non-payment to other BS.
- imtringued 6y agoPrices are negotiated. Two parties must agree on the price. If there is a "greedy" landlord overcharging people there must also be a person "willing" to pay the overpriced rent. Of course there are cases of vacant properties but I don't think this is a problem for most rental markets.
- TuringNYC 6y agoI'm pretty sure vacant properties are a problem in every market, it is just a matter of grayscales -- how many days do you keep units empty waiting for a creditworthy tenant. Perhaps the unit is empty 10 days, perhaps 15. Willingness to keep a unit empty is part of the negotiation -- a landlord is saying "I'd rather keep the unit empty for another couple of days than take a rent that wont adequately-compensate for the 4% chance i get nothing for 10months (i.e., eviction)" Of course, even eviction timelines vary vastly from one jurisdiction to another
- Supermancho 6y ago> Prices are negotiated. Two parties must agree on the price. Yeah, that's true of hostage negotiations too. The issue is one of choice and efficiency. Moving is a larger risk (via cost, opportunity, travel, etc) than changing rent or services performed, usually.