Landlords are supposed to want tenants to stay. Right?
Welcome to San Francisco, where things don't always make perfect sense. Rent-controlled apartments, where city laws prevent the price of rent increasing by too much, don't come along every day in S.F. If a person has one and they've lived there for years, motivation to move out can be low. Why leave a place with below-market rent in a booming city where new residents are paying through the nose?
Some landlords, eager to get long-term tenants out so they can raise the rent on a new tenant, are offering residents tens of thousands of dollars to hit the bricks, the San Francisco Chronicle reports. While the practice isn't new, it is seeing a renaissance in light of the recent influx of tech workers willing and able to pay more rent.
This is a controversial topic in San Francisco, where the city has become divided over whether the resurgence of tech workers is hurting the city's culture.
So what is a rent-controlled apartment and howRead More »from Some landlords in SF offering tenants big bucks to move out. Here's why