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If you own a house and it sits empty for a year because an algorithm told you you could get more for it, you’re an idiot. If you use an algorithm to effectively
by lowbloodsugar 3y ago
If you own a house and it sits empty for a year because an algorithm told you you could get more for it, you’re an idiot. If you use an algorithm to effectively collude with others and you fail to rent your house but keep rents artificially high, then you an idiot and a criminal.
- bluGill 3y agoIf you own 100 houses to rent it is already known you should have a few empty at all times.
- lozenge 3y agoI don't think it suggested leaving places empty for a year. Rather they wanted to spread out lease renewals. If everybody's lease ends in September then your property is competing with a lot of others. Whereas if you keep it empty until February then offer a 12 month lease, your renter will have much fewer choices and is more likely to stay (despite your demand of a high rent increase).
- FireBeyond 3y agoThis generally isn't targeted at single property homeowners/landlords. RealPage says if you have a portfolio of apartments, that following their recommendations will generate you more overall, regardless of occupancy. Their algorithm literally is "it is better to rent out 19 units at $X, when the demand will drop to 0.94X if there's 20 available". And it can do so because it happens to know that the other 80 units on the market with other landlords will be following the same rule.