Anustart15 t1_j9qzlre wrote
Reply to comment by Proof-Variation7005 in What would it take to mitigate the downside of rent control, specifically the skimping on maintenance? by letoatreides_
No apartment within 2 hours of Boston is $1000. Let's go with a realistic low number and say it's a $2000 a month apartment. If they managed to price it right when they first start renting it out, it's not going to be jumping up more than $200 in a year. If they want to renovate there's only so much they can do in a single year with a tenant actively living in there that will justify more than $200 increase a year also.
Proof-Variation7005 t1_j9r28xc wrote
If it's $2000 that can only go up to $2200 but there's enough demand where that same place can be listed for $2600, a landlord can and will do that. Even if they're losing a full month's rent to re-list it (most likely, they'd just shift the next tenant to a mid month lease), that increase would pay itself off within a few months.
It's a market problem. Any solution not focused on the root problem of supply is going to be inadequate and ineffective.
Anustart15 t1_j9ra8ni wrote
Sure. And if they are renting a place for $5 and it's suddenly worth $5 million, the landlord will do that, but how often is a landlord accidentally under pricing their rental by $600? It's not like units are jumping 30% year over year. If a landlord is willing to kick someone out to charge higher rent, they were already boosting the rent as much as they could get away with each year, so they aren't going to need to do those huge jumps in the first place
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