Quote:
Originally Posted by FlyingScot
I agree with you on business strategy. What you describe maximizes profits, at least short term. I do this regularly.
But having grown up in a town with a lot of people who were just scraping by--if I owned an apartment building and property values were roaring while costs were pretty much flat, I would not raise rates in a way that would squeeze (good) tenants who were barely making it. Keep in mind that if a person is paying 30-50% of their income on rent, and prices go up by 50%, as you suggest, they cannot possibly afford the jump--you'll turn over the entire building at once. But that's just me making a personal choice. Maybe it's why I don't own an apartment building? (haha)
Back on topic-- can I infer from your post that you and all the folks who thanked you are cool with slip prices jumping by 64% in a single year?
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Maybe not so much 'cool' as 'accepting' or 'resigned'.