US Justice Department accuses six major landlords of scheming to keep rents high
TimLovesTech (AuDHD)(he/him) @ TimLovesTech @badatbeing.social Posts 0Comments 1,189Joined 2 yr. ago

TimLovesTech (AuDHD)(he/him) @ TimLovesTech @badatbeing.social
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I understand that, but at some point they will hit a number where people in the area can't afford the 1st month (or more) down or even monthly payments. And landlords aren't going to just start waiving the down payment or rent up front as this whole thing is about them using algorithms to maximize income. So there is a ceiling, but they can of course collude on what that is and all match that ceiling so that it's the only option (which I assume is what happened here). If they can then cause turnover once tenants are in place by prices breaking that ceiling they can keep down payments for breaking lease, then drop the price back to that ceiling for the next victim, rinse and repeat.