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Reply to "Any other landlords noticing huge drops in rent??"
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[quote=Anonymous][quote=Anonymous]OP here. I'm not interested in debating why condos *shouldn't* cost $4K per month, and as I stated earlier, I don't want to provide lots of details that could potentially identify me - I'll just say it's a unit with a high-end renovation in an excellent location. The main point is that I have been receiving these "too high" rents for years, and now all of a sudden, I'm not. Perhaps the high end of the market is falling. Just trying to get perspectives from other landlords in the area - any thoughts?[/quote] Did you start off charging $4K per month? Or did you get there after a series of rent hikes? If the latter, then your prior tenant may have just paid it to avoid moving even though it was higher than the market rate. [/quote]
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