San Francisco Apartment Rents Crater Up to 31%, Most in U.S.

Re:San Francisco Apartment Rents Crater Up to 31%, Most in U.S. by onecommentman on Tuesday October 13, 2020 @11:09PM (#24772740)

Perhaps the phenomenon of “X months free rent” is more pervasive in NYC.

E.g. https://www.cityrealty.com/nyc/market-insight/rental-buildin...

What little I understand is if a landlord is leveraged (?) up the wazoo, the lending bank can make the landlord pay a lump sum if the revenue projections on which the loan is made shrink, since the risk is higher. Somehow, free months don’t count against these revenue projections (assumed a one-off?), through what I imagine is the magic of contract law. The higher end, nicer real estate is probably more highly leveraged. Someone in RE can probably clarify this better.

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Re:San Francisco Apartment Rents Crater Up to 31%, Most in U.S. by rStar on Wednesday October 14, 2020 @12:27AM (#24773091)

our rent went down, total, a little more than a third. half was a price drop and half was the averaged value of 2 free months, which we will have to pay back if we leave before the lease is up. We had budgeted an increase, so it’s a covid windfall. Less traffic and one of the lowest covid numbers in the union atm are a bonus. The constant smoke in the air is the real problem. Haven’t had a blackout yet.

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Re:San Francisco Apartment Rents Crater Up to 31%, Most in U.S. by adjkant on Tuesday October 13, 2020 @11:27PM (#24772828)

It is, but that was true pre-pandemic, so that won't mark a shift in prices either way. That's baked into last year and this year.

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