3 ms·
Same thing is happening with entire buildings in my city. They'd rather evict their entire set of renters than lower the rent.
by trophycase 5y ago
Same thing is happening with entire buildings in my city. They'd rather evict their entire set of renters than lower the rent.
- josephcsible 5y agoThat's a consequence of rent control laws, which limit the percent that you can raise rent by per year. Ever lowering rent in a place with such a law is penny-wise but pound-foolish.
- rdtwo 5y agoThat’s a financing thing plus if you have an old building it’s probably better to evict everyone so you can build a new one