Re:Algorithmic price-fixing of rents is here
by stranded22 on Sunday August 11, 2024 @03:41AM
(#41214583)
My experience is that the estate agents in the UK (south east) put the rent up ridiculously compared to previous then slowly knock off money the closer it gets to the previous tenants moving out and it is empty.
Then, other properties also go on the market much higher as they see this is now 'the market rate'.
The higher quality properties go early. The poor quality ones stay - with the higher pricing.
In the UK, it is an absolute racket without any protection for the tenant. Including ANY annual increase in rent - and people can be kicked out with just 2 months notice (including where I rent, as a family of 3).
Then, other properties also go on the market much higher as they see this is now 'the market rate'.
The higher quality properties go early. The poor quality ones stay - with the higher pricing.
In the UK, it is an absolute racket without any protection for the tenant. Including ANY annual increase in rent - and people can be kicked out with just 2 months notice (including where I rent, as a family of 3).