Has anyone ever had their rent actually decrease? Serious question. I assume this is talking about people who are looking for apartments now, not people who are already paying hilariously high rents.
Find me a landlord that has ever lowered the rent for existing tenants, and I’ll eat the paint chips peeling off my poorly-maintained walls.
A friend of mine lived in downtown Boston during the pandemic. Like, across the street from the Garden. His building lost a TON of tenents when people fled the city since they could now work remotely. He was going to move as well, but then the building offered to reduce his rent by $700/month if he stayed. So he did.
Oh damn, that’s excellent! Sounds like it was a do or die situation for the landlord. Guess I’ll start sauteing some paint chips for dinner…
Anyone have another example from pre or post pandemic?
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So how much have they jacked it back up by?
No idea. He used the money he saved to help for a down payment in a condo.
Only because I looked at the apartment complex’s website and saw my apartment type listed $150 under what I was paying.
Edit for clarity: I went down and arbitrated a reduction.
Not exactly, but during the covid pandemic prices dropped and our lease was coming up for renewal and they wanted the standard 2-3% increase anyways. We ask them to lower it and they said corporate doesn’t let them do it. So we gave 2 months notice and waited for our unit to appear on the website and started a new lease. Technically, there was a 2 week period between the leases, but we just bickered with them until they said we could stay, and they even charged us at the new lower lease rate for those 2 weeks. I think we saved like 20% a month compared to our original lease?
I’d assume you usually need to move to benefit from rent drops or at least put in notice that you’re moving out.
Yes, actually. By $50. And it required me to move into a different unit of the same floor plan. Then they raised rent by $200 the next year.
Basically you just have to move to get a lower rate. Like a job they won’t do anything in your benefit you have to move jobs to get an increase (or decrease in the case if apartments)
Never
Never ever. It’s one of those things that should happen in theory, but never happens in practice.
I got my rate to stay the same and 2 months free rent on resigning this year, and they offered me the 2 months after I already signed the renewal so that was shocking. I think my building is struggling to keep tenants.
The only place rent ever actually decreases is in creative writing
Typically you see relative to inflation. While your rent doesn’t go down, because of inflation you are probably making more money and so your real rent goes down. In some cases you rent can even go up, yet relative to inflation it goes down.
because of inflation you are probably making more money
Sure, Jan
Why is this article’s tone written like its rooting for rents to rise?
“there should be far less supply going into 2026, giving rents a chance to make up some ground”
It almost sounds like they could be talking a stock price falling.
Because media sides with whoever owns them.
Ah, CNBC. Still carrying the bucket of water for capitalism with a hole in the side.
I was just thinking this.
My apartment complex is at 40% capacity. Since I’m in the process of moving, I’ve been paying attention to rentals.
I noticed a bunch of new apartment complexes also have low capacity. I could be making a guess though. Rentals are so high right now.
I am certain this claim excludes California. I’ll believe it when I see it.
Diana, you suck. And also, your headline is phrased terribly.
Nicely done, let’s keep going.
Edit: Building works.
