I don’t know the story of course, but apartments are one of the largest profit growth centers for capital firms; most metros have experienced >50% rent growth in the past decade[0], for instance. Chances are a renter will never see a rent decrease unless they downgrade in a key area (specs, amenities, location) or are moving in very short intervals.

0: https://www.self.inc/blog/cities-biggest-increase-rental-pri...