Up to $20k/year vacancy tax? Umm…
$20k/12 = $1,667/month
Typical rent in SF? $4k/mo?
So, at peak penalty, the landlord/owner is paying a vacancy tax equal to 1/3 month rent each month to keep a $4k/month unit off of the market. Even less (as a percentage) if the unit rents for more. At $500, the monthly charge is $42/month.
Oops! Dropped a “0” in that last calculation:
At $5k, it is $417/month.