(03-27-2024, 08:10 AM)Sneakers Wrote:

(03-27-2024, 07:10 AM)The Real Marty Wrote: That's not exactly how it works.  The landlord doesn't have to hear the tenant has more money.  He just has to know there is someone out there who will pay more for the space.  He finds that out by looking at the rent on other properties.

It doesn't appear that either of you have any firsthand experience with rental properties.  <<Wrong


First of all, it's important to distinguish between residential and non-residential units, before drawing any conclusions.  

There are such things as contracts and a landlord cannot legally increase the rent "the moment the landlord hears the tenant has more money".  Also, not all landlords are focused on squeezing the last possible dollar out of a rental.  The generalization is simply not accurate.  Many prefer sacrificing somewhat for the advantages of stable, long-term tenants, who are far less trouble.  

Yes, there is a housing shortage just about everywhere across the country, but that is completely a factor of quantity, not price, and it will be years before supply catches up with demand.