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this post was submitted on 14 Jun 2024
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Technology
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You're forgetting: Property Management is a career, and for a reason. Unmaintained properties run into bigger issues until they're so bad a tenant has to move out -- and then a tenant has no place to live without a massive rent increase as the rent is re-based on the prevailing economic rape instead of whatever it was 10 years ago with its 2% yearly increase.
Big landlords are uncaring, but they do manage the property. Good ones manage it well, fixing windows and pipes and pot-holes, etc. Less 'broken-window effect' and more peaceful days between goddamned fire alarm testing.
Only a 2% yearly increase?!? Are you serious? I lived in an apartment for 8 years, and my ending rent was 70% higher than my starting rent. By your number, it should have ended up only about 15% higher.