Re:San Francisco, Silicon Valley rents plunge amid downturn
by jedberg on Monday June 01, 2020 @03:44PM
(#23382854)
It is, but it doesn't affect the base rate, so it allows a bigger increase when things get better again, because the increase limit is a percent of the current rent (not including discounts).
That's basically a fancy way of lowering the rate, right?
Our friends just bought a new house in a development and the builder did a similar game where they added in some bells and whistles instead of coming down on the price. Their reasoning was that they couldn't drop the price because that's public data and it would put pressure on them to accept lower prices from other buyers in the neighborhood.