I can speak about how it actually works, because I live in a building that uses this and has used it since I moved about 2-3 years ago… although it seems like t

I can speak about how it actually works, because I live in a building that uses this and has used it since I moved about 2-3 years ago… although it seems like they just recently paused using it (I got my renewal a few days ago). Every day (or every week or month, up to the property) the rent gets recomputed for every unit for whatever terms you want to offer. My building offers 7, 8, 9, 11, 13 and 14 month terms at the moment (yes, 12-months is surprisingly absent). You get a wide range of rents based on the terms that seemingly don't make sense. That's because it calculates both current market factors as well as what it thinks is in store for the future. So a 9-month term can be either less or more than an 13-month term, because it heavily depends on WHEN that term will end in terms of how hard it anticipates it will be to find a new tenant. When I first when to move in I was told that the rate quoted would only be good for a week and next week ALL the terms would be different—and they were. It feels like a little bit of a lottery. Wait another week and the rent may go up or down for any of the terms. I did wait an extra week, and then the rent went UP for the 12-month by DOWN for the 13. The rent spread between both terms and time was around $400/mo IIRC, so it was not trivial. I just got my renewal for this year and my building is no longer using this feature. I can tell because all the terms now have the same (albeit it ridiculous) rate. I'm not sure why my building stopped using it. It may be because of the backlash happening right now, but I actually think it may be because tenant turnover is simply through the roof with this system. Our building is a rotating door. People would move in with a great intro rate, but when it comes around for renewal the rates were VASTLY different, as well as the terms they were mapped to—and you knew that. Why pick a 14-month term when you can pick a 7-month term… and maybe stand to get a lower rent in 7-months? I was always wondering what my options would be on renewal. Sometimes I would check my unit, which despite being rented, I could still see what the "new rate" would be if my renewal was that day. The numbers were always just all over the place. Sometimes the 7 or 8 month lease was the cheapest. Other times it was by far the most expensive. It honestly just felt like there were a bunch of dice rolls every day that determined rent within some range.