“In October 2022, ProPublica reported that landlords used Realpage’s cartel asset optimization algorithm Yieldstar to increase rents exponentially throughout the United States. Overwhelmingly, approximately 90% of property managers/landlords obey price increases suggestions by Yieldstar. Realpage’s policy strongly discourages negotiating rent prices with tenants, thus empathy with tenants are most sacrificed as a result.”
https://en.wikipedia.org/wiki/RealPage
It reminds me of a dental trade publication.
This seems kinda like looking through the the classifieds to get an idea of market price. You can also ask sec 8 what they pay.
Going up each month? So these people don’t have leases?
I’ve been keeping up with house rentals in the local Charlotte area. Looking at houses comparable to ours, should we sell and move, many of these houses are in the $2400-2600 range. You can usually check the history on Zillow and see that these same homes were renting for $1800-2000 just last year or the year before. It’s as if a magic wand waved over these houses and made all of them jump in price overnight.
They all also have monthly fees for pets, “smart home”, hvac filter exchange, pool (if any)...not to mention high application fees.
Of course, a lot of these houses are just sitting unrented. Any rent reductions happen in $25-50 increments.