Quote:
Originally Posted by Hayward
This building should be renting $750 / apartment. There's simply too many cheap apartments in the area. Quite a few of them rehabbed. But you never know. Some people rent apartments without looking.
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Not to beat a dead horse, or to focus on you in particular Hayward, but I don't understand the rationale behind the ongoing pricing argument. The article on DNAinfo is saturated with the exact same kind of comments about the proposed rent amounts being too high, and "you would have to be crazy to pay that amount".
This property would be treated like every other rental property in the history of mankind... if someone comes along and thinks the rent is too high for the apartment, or too high for their budget, they will pass and look elsewhere. If they feel the rent is appropriate, and fits their budgetary and physical needs, they will rent it. So what is the big deal exactly? If the units cant rent for $1000/mo, then the landlord will have to lower rent... if they can rent for $1000/mo then there is obviously a demand, and the product will help supply that demand.