This seems to be a textbook answer, but in reality we live in a world where people(renters and homeowners) have imperfect information. There is no renter out th

This seems to be a textbook answer, but in reality we live in a world where people(renters and homeowners) have imperfect information. There is no renter out there that knows exactly how much they can get to the dollar. They have to compare with market prices and make a reasonable guess.