2 ms·
Think of the alternatives: * Dump the apartments on the market at a price where they will sell (which for a large property developer in a city will depress pri
by londons_explore 3y ago
Think of the alternatives:
* Dump the apartments on the market at a price where they will sell (which for a large property developer in a city will depress prices and is poisoning the well for their next project)
* Leave the properties vacant for years
- neilv 3y agoI'm wondering what their intentions mean for how long those rentals will be available. For example: Will the renter get kicked out in 12 months, or the lease broken abruptly with a sale clause in 7 months, because the intention was holding pattern? Will the renter be able to live there 5 years, with reasonable rent increases at each lease renewal, because the goal is to be income-generating property with a stable tenant, to keep condo association fees low? Or some other intention, and how it affects the renter?
- sdwr 3y agoNot a property developer, but it depends on how fast the other units are bought, right? If the "many unsold" units start moving, they'll want to get the rentals off their books as well. My guess is they won't break the lease early, but will not renew / jack up the price once the building has filled up.