The landlord incurs an opportunity cost for not selling their property either as a condo conversion or single family depending on the local market. The propert

The landlord incurs an opportunity cost for not selling their property either as a condo conversion or single family depending on the local market. The property price at sale is directly influenced by prevailing interest rates. The landlord will then charge rents in line with some return horizon that ensures its worth their time to not just sell and take the cash.