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Small landlords who didn't use RealPage didn't struggle with occupancy. Large ones "fired" renters and warehoused apartments, meeting debt obligations at occupa
by washadjeffmad 2y ago
Small landlords who didn't use RealPage didn't struggle with occupancy. Large ones "fired" renters and warehoused apartments, meeting debt obligations at occupancy rates even below 80%.
And most amenities are bullshit. They've taken ordinary, expected services and privatized them, externalizing the costs to residents for kickbacks, and made elective services like cable and internet mandatory through exclusive provider agreements to inflate revenue.
In aggregate, squeezing older properties subsidizes newer properties by equalizing returns. They're making just as much or more off of cheaper properties as newer "premium" ones.