5 ms·

Correct, and even YieldStar has a customer-set vacancy and lease expiration targets that it works towards. RealPage trains the customers to accept a little more

by mjcl 2y ago

Correct, and even YieldStar has a customer-set vacancy and lease expiration targets that it works towards. RealPage trains the customers to accept a little more vacancy to gain higher lease pricing.

lotsofpulp 2y ago
Which can be corrected via property taxes that increase at increasing rates for the time period that any given property remains unused, including non residential rentals. Landowners get the biggest subsidy of all in the US, where they pay proportionally very little to the local government’s operational costs, and benefit the most from the law and order, judiciously systems, and education of the local populace. And instead of going after landowners for reaping the rewards of sitting on unproductive uses of land that everyone has to spend extra time and energy to travel around, the government even gives them tax breaks (1031 exchange, property tax caps), and instead goes after people who actually perform work (income tax).
- erik_seaberg 2y ago
  The optimal vacancy rate isn't zero, renters (and relocating homeowners) need to be able to move and to reject bad landlords.
  - lotsofpulp 2y ago
    The property tax rate function can easily be formulated such as a continuous power law function such that short periods of vacancy are not penalized.
    - RhysU 2y ago
      "Easily" did a lot of work in your reply. What's the right period of vacancy to allow for 1, 2, 3, and 4-bedroom units as a function of floor level, direction faced, time of year, elevator or not, age of building, distance to school and transit, etc?
      - lotsofpulp 2y ago
        Why does all of that stuff matter to society? The unit can provide utility as long as it is fit to live in. The only question is what price people are willing to pay for it. We can even generously set it at 1 year just to start things off. If landlords are still too comfortable keeping units empty for the sole purpose of holding out for another price, then it can be revised lower.
  - techdragon 2y ago
    You have the problem backwards. We shouldn’t care what the vacancy rate is for residential properties at least, we should be focused on minimising the percentage of the population who are “seeking but unable to find housing” and yes that is deliberately constructed to avoid dragging the whole cycles and causes of homelessness into the mix. If you are actively trying to get some kind of dwelling, buying or renting, and have not yet managed to do so, then you count for the statistics. Speculation driven rises in residential real estate prices buy/rent are a plague on society and we need to stop framing the problem so that we lose sight of the purpose of housing, it’s to house people…

by mjcl 2y ago

Correct, and even YieldStar has a customer-set vacancy and lease expiration targets that it works towards. RealPage trains the customers to accept a little more vacancy to gain higher lease pricing.

lotsofpulp 2y ago

Which can be corrected via property taxes that increase at increasing rates for the time period that any given property remains unused, including non residential rentals. Landowners get the biggest subsidy of all in the US, where they pay proportionally very little to the local government’s operational costs, and benefit the most from the law and order, judiciously systems, and education of the local populace. And instead of going after landowners for reaping the rewards of sitting on unproductive uses of land that everyone has to spend extra time and energy to travel around, the government even gives them tax breaks (1031 exchange, property tax caps), and instead goes after people who actually perform work (income tax).

erik_seaberg 2y ago
The optimal vacancy rate isn't zero, renters (and relocating homeowners) need to be able to move and to reject bad landlords.
- lotsofpulp 2y ago
  The property tax rate function can easily be formulated such as a continuous power law function such that short periods of vacancy are not penalized.
  - RhysU 2y ago
    "Easily" did a lot of work in your reply. What's the right period of vacancy to allow for 1, 2, 3, and 4-bedroom units as a function of floor level, direction faced, time of year, elevator or not, age of building, distance to school and transit, etc?
    - lotsofpulp 2y ago
      Why does all of that stuff matter to society? The unit can provide utility as long as it is fit to live in. The only question is what price people are willing to pay for it. We can even generously set it at 1 year just to start things off. If landlords are still too comfortable keeping units empty for the sole purpose of holding out for another price, then it can be revised lower.
- techdragon 2y ago
  You have the problem backwards. We shouldn’t care what the vacancy rate is for residential properties at least, we should be focused on minimising the percentage of the population who are “seeking but unable to find housing” and yes that is deliberately constructed to avoid dragging the whole cycles and causes of homelessness into the mix. If you are actively trying to get some kind of dwelling, buying or renting, and have not yet managed to do so, then you count for the statistics. Speculation driven rises in residential real estate prices buy/rent are a plague on society and we need to stop framing the problem so that we lose sight of the purpose of housing, it’s to house people…