Re:San Francisco’s rent prices have never returned to pre-20...
by blast on Sunday December 24, 2023 @01:06AM
(#38751526)
New tenants have to pay market rate to begin renting. Rent control kicks in after that and prevents the rent from increasing much.
If the other renters had been there for many years, they'd effectively still be paying the market rate from years earlier. That can be a great deal less than market rate now.
That's why renters in rent-controlled units tend not to move as much - as market rates go up, your rent gets relatively cheaper over time and that's an incentive to stay put.
If the other renters had been there for many years, they'd effectively still be paying the market rate from years earlier. That can be a great deal less than market rate now.
That's why renters in rent-controlled units tend not to move as much - as market rates go up, your rent gets relatively cheaper over time and that's an incentive to stay put.