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Rents are lower now due to covid. I read that after covid landlords will increase rents. Is it usually increased to pre covid levels, even more to make up for reduced rent during covid, or is there a limit to how much rent can be increased year to year? Thank you
Rents are lower now due to covid. I read that after covid landlords will increase rents. Is it usually increased to pre covid levels, even more to make up for reduced rent during covid, or is there a limit to how much rent can be increased year to year? Thank you
When landlords don't get to collect, they will keep rent up on people who pays while taking properties off market to prevent squatters. I used to be a landlord and I'm glad I'm out.
Forget about rent, how about people who are behind on rent. All these rent freezes are gonna pile up debt and we will have a major epidemic of people not paying at all while waiting to be evicted.
With so many business and individuals taking some sort of financial hit why would a landlord think he can just pretend it is business as usual and remain unscathed?
It would be not very logical to think that like any other investment you are not subject to hard times too .
I have no idea what the answer is unless adjustments are made on real estate taxes and mortgages , as solving this is above my pay grade .
but the thought that you have sectors that think they should come out whole while the majority take financial hits defies logic
I expect increases to the extent that the market allows.
While not a NYC rental, my have not increased the rent for my place in Hawaii, where the rental market has also been hard hit. But I also haven't lowered the rent as I haven't had to. I don't see myself increasing the rent when the lease is up for renewal this coming summer, too.
With so many business and individuals taking some sort of financial hit why would a landlord think he can just pretend it is business as usual and remain unscathed?
It would be not very logical to think that like any other investment you are not subject to hard times too .
I have no idea what the answer is unless adjustments are made on real estate taxes and mortgages , as solving this is above my pay grade .
but the thought that you have sectors that think they should come out whole while the majority take financial hits defies logic
The answer is either some kind of debt/property tax jubilee/amortization on the back half of the loans or a big steaming dump of Elephant excrement all over the city leading to a massive bankruptcies jamming up all courts for years to come with no end in sight. Property values fall of a cliff, families leave and criminals and gangs move in to the abandoned properties.
The prelude to Escape from NY is starting soon. Get your popcorn.
I expect increases to the extent that the market allows.
While not a NYC rental, my have not increased the rent for my place in Hawaii, where the rental market has also been hard hit. But I also haven't lowered the rent as I haven't had to. I don't see myself increasing the rent when the lease is up for renewal this coming summer, too.
If you're in New York can I stay in your Hawaii place for a little while. Pretty please.
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