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Reply to "Any other landlords noticing huge drops in rent??"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How have you improved the property since 2019?[/quote] No improvements since 2019, but a full-scale renovation was done shortly before that. I don't want to out myself by getting into too many specifics about my property, but suffice to say, I believe the higher prices were justified and the market bore that out for years. But yes, it's definitely possible that my property getting hit because it is on the expensive side may not mean anything for the broader market. That's why I was interested in the observations of other landlords in the area.[/quote] To be fair, the increase from $3200 in 2019 to your last rent of $3975 was a 25% increase in less than four years. That’s not really sustainable. I suspect your $3975 tenant came in during some crazy Covid times. [/quote]
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