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There's no such thing as a property that can't find a renter, only a property whose rent is too high. Many landlords are bad at math from what I've found. If
by jedberg 3y ago
There's no such thing as a property that can't find a renter, only a property whose rent is too high.
Many landlords are bad at math from what I've found. If you're asking for $2400 and no one is biting, it makes more sense to drop to $2200 than hold out for a month to try and get $2400, because at $2400 it will take a year to catch up.
- toomim 3y agoNot with rent control. If we're in a low price market, it and a renter snags rent at a low price, he gets you locked in at that low price even when the market recovers. Rent control incentivizes empty housing during bear markets.
- jedberg 3y agoThis is true, rent control adds a complicated calculus to it. At first they were doing things like "first month free" to get around it, but the city caught on and made that against the rules too. I wonder if they've looked at how that affected vacancy rate.