yeah I live in a non-rent-controlled apartment building, I meant building management. what I think happened is the building was bought a few months ago by some random private equity group in the northeast, and coincidentally our rent renewed during the handover when all the websites and portals and whatever were in flux. I think their valuation models for our rent probably didn't have access to our current rent rates or something so we ended up being assigned a rent decrease. From asking around we are literally the only people in our building this happened to and building management was shocked when they found out.
The same thing happened to me a few years ago, pretty much exactly. Apartment complex bought by a private equity firm, renewal came up during the transition, rent went down by a tiny amount. The previous (i.e. non-equity) owners kept incredibly shitty records, so my guess was that the new vampires just had to guess at a "fair market value" and fucked up.
we've found the secret, just convince these ghouls to incessantly play building hot potato with each other until everybody's rent goes down by fifty bucks
yeah I live in a non-rent-controlled apartment building, I meant building management. what I think happened is the building was bought a few months ago by some random private equity group in the northeast, and coincidentally our rent renewed during the handover when all the websites and portals and whatever were in flux. I think their valuation models for our rent probably didn't have access to our current rent rates or something so we ended up being assigned a rent decrease. From asking around we are literally the only people in our building this happened to and building management was shocked when they found out.
Oh, yeah, man. That was 100% a bug and nothing like an actual rent reduction. You got lucky but hopefully they don't get their revenge next year.
The same thing happened to me a few years ago, pretty much exactly. Apartment complex bought by a private equity firm, renewal came up during the transition, rent went down by a tiny amount. The previous (i.e. non-equity) owners kept incredibly shitty records, so my guess was that the new vampires just had to guess at a "fair market value" and fucked up.
we've found the secret, just convince these ghouls to incessantly play building hot potato with each other until everybody's rent goes down by fifty bucks