How many landlords are offering to lower the rent on their existing tenants, after having raised it on them already? Any at all? This statistic only applies to new rental leases.
I'm not sure what you mean by this. I've never signed a rental contract where the landlord had the ability to raise rent unilaterally in the middle of the contract; raises have always come upon the expiry of the contract when the landlord has offered a new rate.I don't believe such agreements exist, and I apologize if I implied that they do. But a one year lease goes by quicker than most people think.
(Personally I've never taken that rate and have always found a new and cheaper place to live.)
Yes, that's a luxury of being fairly young and with no family in tow. I used to be like that; moving from place to place sometimes more than once in one year, with only enough furniture to fill the back of the car. Now that I have a wife and two small children, the pain of moving to another home is a
massive endeavor. And then there's elderly folks who may have been renting the same place for decades; they may not own it but it's certainly their
home.
Falling rents will not affect tenants who are currently in the middle of a rental contract any more than rising rents do, but when landlords offer new rental contracts to their existing tenants either the rents will be lower
I don't believe that has ever happened to anyone I know, ever. A landlord just initiating an offer of a lower rent payment when their tenant's lease expires?!
Any tenants who try to negotiate a lower deal often fail, because the landlords will see how much of a hassle and expense it is for many tenants to actually follow through on a threat to move out. So they'll just spin some yarn about their property taxes, home insurance, HOA fees, etc. to justify why the rent has to either stay the same or possibly even go up more.
or those tenants will be able to go somewhere that they can get a better deal.
Again, it's easy if you can. In my own case, a "better deal" can only be found in a much smaller, older, or more run-down property, or in a completely different town which would require us to change jobs, the kids' schools, etc...
